Harmonic (NASDAQ:HLIT) Trading Up 10.5% – Here’s What Happened

Harmonic Inc. (NASDAQ:HLIT)’s share price rose 10.5% on Thursday . The company traded as high as $11.31 and last traded at $11.4060. Approximately 811,618 shares changed hands during trading, a decline of 23% from the average daily volume of 1,056,218 shares. The stock had previously closed at $10.32.

Wall Street Analysts Forecast Growth

HLIT has been the subject of a number of research analyst reports. Needham & Company LLC raised their price objective on Harmonic from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Northland Securities set a $14.00 price target on shares of Harmonic in a report on Friday, February 20th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $16.00 price target on shares of Harmonic in a report on Friday, March 27th. Finally, Weiss Ratings downgraded shares of Harmonic from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, March 6th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Harmonic presently has an average rating of “Hold” and a consensus price target of $14.50.

Harmonic Trading Up 10.7%

The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.26 and a current ratio of 2.50. The stock’s fifty day moving average is $9.85 and its 200 day moving average is $9.98. The stock has a market cap of $1.24 billion, a P/E ratio of -29.28 and a beta of 1.10.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings results on Thursday, February 19th. The communications equipment provider reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.04). Harmonic had a negative net margin of 7.59% and a positive return on equity of 5.91%. The business had revenue of ($53.02) million during the quarter, compared to the consensus estimate of $140.98 million. During the same period in the previous year, the business posted $0.45 EPS. The firm’s revenue was down 42.6% on a year-over-year basis. Harmonic has set its FY 2026 guidance at 0.460-0.630 EPS and its Q1 2026 guidance at 0.110-0.120 EPS. As a group, equities research analysts predict that Harmonic Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Harmonic

Several institutional investors have recently added to or reduced their stakes in HLIT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Harmonic by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,664 shares of the communications equipment provider’s stock worth $630,000 after purchasing an additional 2,853 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Harmonic by 9.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,538 shares of the communications equipment provider’s stock worth $3,390,000 after purchasing an additional 31,276 shares during the last quarter. Jane Street Group LLC lifted its stake in Harmonic by 978.5% in the first quarter. Jane Street Group LLC now owns 247,480 shares of the communications equipment provider’s stock worth $2,373,000 after purchasing an additional 224,534 shares during the last quarter. American Century Companies Inc. lifted its stake in Harmonic by 239.3% in the second quarter. American Century Companies Inc. now owns 110,892 shares of the communications equipment provider’s stock worth $1,050,000 after purchasing an additional 78,214 shares during the last quarter. Finally, Norges Bank bought a new stake in Harmonic in the second quarter worth about $1,426,000. Institutional investors own 99.38% of the company’s stock.

Harmonic Company Profile

Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high?quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real?time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic’s product lines include cable edge QAM modules and set?top video processing platforms for traditional pay?TV operators, alongside cloud?native software for over?the?top (OTT) delivery, origin servers and content delivery network (CDN) services.