Harmonic’s (HLIT) Buy Rating Reaffirmed at Rosenblatt Securities

Harmonic (NASDAQ:HLIT)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a report issued on Thursday, Benzinga reports. They currently have a $20.00 price objective on the communications equipment provider’s stock. Rosenblatt Securities’ price target points to a potential upside of 87.35% from the company’s current price.

A number of other analysts also recently commented on the company. Barclays lifted their price objective on Harmonic from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Northland Securities set a $17.00 price target on shares of Harmonic in a research note on Thursday, August 13th. Needham & Company LLC reissued a “buy” rating on shares of Harmonic in a report on Thursday, August 13th. Zacks Research downgraded shares of Harmonic from a “strong-buy” rating to a “hold” rating in a report on Friday, July 24th. Finally, Weiss Ratings lowered shares of Harmonic from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.50.

Harmonic Stock Performance

NASDAQ HLIT traded up $0.12 during trading on Thursday, hitting $10.68. The company’s stock had a trading volume of 316,268 shares, compared to its average volume of 1,843,016. Harmonic has a 52 week low of $8.47 and a 52 week high of $17.68. The firm has a market cap of $1.16 billion, a P/E ratio of -25.37 and a beta of 1.32. The firm has a 50 day moving average price of $11.73 and a 200 day moving average price of $12.17. The company has a quick ratio of 2.56, a current ratio of 3.05 and a debt-to-equity ratio of 0.30.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Wednesday, August 12th. The communications equipment provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.07. The company had revenue of $133.46 million during the quarter, compared to analysts’ expectations of $120.89 million. Harmonic had a positive return on equity of 10.91% and a negative net margin of 8.50%.Harmonic’s revenue for the quarter was up 53.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 earnings per share. Harmonic has set its Q3 2026 guidance at 0.150-0.190 EPS and its FY 2026 guidance at 0.670-0.750 EPS. Equities research analysts forecast that Harmonic will post 0.53 earnings per share for the current fiscal year.

Institutional Trading of Harmonic

Institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP boosted its stake in shares of Harmonic by 59.6% during the 2nd quarter. Engineers Gate Manager LP now owns 76,479 shares of the communications equipment provider’s stock worth $1,249,000 after buying an additional 28,545 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Harmonic in the second quarter valued at about $47,000. Squarepoint Ops LLC raised its holdings in Harmonic by 486.9% during the second quarter. Squarepoint Ops LLC now owns 344,782 shares of the communications equipment provider’s stock worth $5,630,000 after acquiring an additional 286,038 shares in the last quarter. Nykredit A S bought a new stake in Harmonic during the second quarter worth about $36,000. Finally, Allianz Asset Management GmbH acquired a new position in Harmonic during the second quarter valued at approximately $4,090,000. 99.38% of the stock is currently owned by institutional investors.

About Harmonic

Harmonic Inc (NASDAQ: HLIT) develops broadband access and video delivery solutions for communications and media companies. Its broadband portfolio includes the CableOS platform, which supports virtualized and software-based cable access networks, along with technologies for fiber, hybrid fiber-coaxial and distributed access architectures. These solutions are designed to help service providers expand network capacity, improve operating flexibility and deliver high-speed broadband services.

Harmonic also provides video infrastructure and software for broadcasters, streaming providers, pay-TV operators and other media organizations.