Harmonic (NASDAQ:HLIT) Earns Buy Rating from Rosenblatt Securities

Harmonic (NASDAQ:HLIT)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $20.00 price target on the communications equipment provider’s stock. Rosenblatt Securities’ target price indicates a potential upside of 86.31% from the stock’s current price.

HLIT has been the subject of several other reports. Weiss Ratings lowered Harmonic from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 22nd. Zacks Research lowered Harmonic from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 24th. Raymond James Financial reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Harmonic in a research report on Thursday, August 13th. Northland Securities set a $17.00 target price on Harmonic in a research report on Thursday, August 13th. Finally, Barclays boosted their target price on Harmonic from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.50.

Harmonic Trading Up 1.7%

Shares of HLIT stock traded up $0.18 during mid-day trading on Thursday, hitting $10.74. The company’s stock had a trading volume of 376,959 shares, compared to its average volume of 1,843,137. The company’s fifty day simple moving average is $11.73 and its 200-day simple moving average is $12.17. Harmonic has a 52 week low of $8.47 and a 52 week high of $17.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.56 and a current ratio of 3.05. The company has a market cap of $1.17 billion, a PE ratio of -25.62 and a beta of 1.32.

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, topping the consensus estimate of $0.17 by $0.07. Harmonic had a positive return on equity of 10.91% and a negative net margin of 8.50%.The firm had revenue of $133.46 million during the quarter, compared to analyst estimates of $120.89 million. During the same period last year, the company posted $0.09 EPS. The business’s quarterly revenue was up 53.5% on a year-over-year basis. Harmonic has set its Q3 2026 guidance at 0.150-0.190 EPS and its FY 2026 guidance at 0.670-0.750 EPS. As a group, equities research analysts expect that Harmonic will post 0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmonic

A number of hedge funds and other institutional investors have recently bought and sold shares of HLIT. BlackRock Inc. purchased a new stake in shares of Harmonic during the second quarter worth about $294,012,000. Bank of New York Mellon Corp purchased a new stake in shares of Harmonic during the second quarter worth about $10,509,000. Renaissance Technologies LLC boosted its holdings in shares of Harmonic by 120.7% during the first quarter. Renaissance Technologies LLC now owns 1,052,927 shares of the communications equipment provider’s stock worth $9,455,000 after purchasing an additional 575,800 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of 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 purchasing an additional 286,038 shares during the period. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Harmonic during the second quarter worth about $4,090,000. Institutional investors own 99.38% of the company’s stock.

Harmonic Company Profile

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.