PDT Partners LLC Acquires Shares of 41,900 Harmonic Inc. $HLIT

Key Points

• PDT Partners LLC has made a new investment in Harmonic Inc. by acquiring 41,900 shares valued at approximately $402,000.
• Institutional ownership of Harmonic Inc. is high, with institutional investors and hedge funds owning 99.38% of the company's stock.
• Harmonic reported a quarterly EPS of $0.09, beating analysts' expectations, but its revenue decreased by 0.5% year-over-year.

PDT Partners LLC purchased a new stake in shares of Harmonic Inc. (NASDAQ:HLIT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 41,900 shares of the communications equipment provider's stock, valued at approximately $402,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in Harmonic by 132.6% during the first quarter. CWM LLC now owns 7,119 shares of the communications equipment provider's stock valued at $68,000 after purchasing an additional 4,058 shares during the last quarter. Drive Wealth Management LLC acquired a new position in Harmonic during the first quarter valued at approximately $111,000. Cresset Asset Management LLC grew its holdings in Harmonic by 16.5% during the first quarter. Cresset Asset Management LLC now owns 11,721 shares of the communications equipment provider's stock valued at $112,000 after purchasing an additional 1,660 shares during the last quarter. Virtu Financial LLC acquired a new position in Harmonic during the first quarter valued at approximately $114,000. Finally, Mackenzie Financial Corp acquired a new position in Harmonic during the first quarter valued at approximately $132,000. Institutional investors and hedge funds own 99.38% of the company's stock.

Wall Street Analysts Forecast Growth

HLIT has been the subject of several research reports. Wall Street Zen cut Harmonic from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays reduced their price objective on Harmonic from $10.00 to $8.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 29th. Wolfe Research initiated coverage on Harmonic in a research report on Tuesday, July 8th. They issued an "underperform" rating for the company. Rosenblatt Securities reissued a "buy" rating and issued a $11.00 price objective on shares of Harmonic in a research report on Tuesday, July 29th. Finally, Needham & Company LLC reduced their price objective on Harmonic from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $11.67.

Harmonic Stock Performance

HLIT stock traded up $0.01 during midday trading on Wednesday, hitting $9.92. The stock had a trading volume of 53,649 shares, compared to its average volume of 1,159,852. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 16.81 and a beta of 1.01. Harmonic Inc. has a 52 week low of $7.80 and a 52 week high of $15.46. The stock has a 50-day simple moving average of $9.23 and a 200 day simple moving average of $9.35. The company has a current ratio of 1.99, a quick ratio of 1.58 and a debt-to-equity ratio of 0.27.

Harmonic (NASDAQ:HLIT - Get Free Report) last issued its earnings results on Monday, July 28th. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. The firm had revenue of $138.03 million during the quarter, compared to analysts' expectations of $134.90 million. Harmonic had a return on equity of 17.83% and a net margin of 9.96%.Harmonic's quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the business earned $0.08 earnings per share. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. As a group, equities research analysts anticipate that Harmonic Inc. will post 0.31 earnings per share for the current year.

About Harmonic

Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.