Harmonic (NASDAQ:HLIT) Given Buy Rating at Rosenblatt Securities

Harmonic (NASDAQ:HLIT)‘s stock had its “buy” rating reaffirmed by investment analysts at Rosenblatt Securities in a report released on Thursday, Benzinga reports. They presently have a $20.00 price target on the communications equipment provider’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 78.89% from the company’s current price.

Other research analysts also recently issued reports about the company. Needham & Company LLC reiterated a “buy” rating on shares of Harmonic in a research note on Thursday, August 13th. Zacks Research lowered shares of Harmonic from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 24th. Northland Securities set a $17.00 price objective on shares of Harmonic in a research note on Thursday, August 13th. Wall Street Zen downgraded shares of Harmonic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Harmonic in a report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $17.50.

Harmonic Stock Performance

Shares of HLIT stock traded up $0.46 during mid-day trading on Thursday, reaching $11.18. 1,291,149 shares of the company’s stock traded hands, compared to its average volume of 1,848,291. 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 firm has a market capitalization of $1.22 billion, a PE ratio of -26.62 and a beta of 1.34. Harmonic has a 12 month low of $8.47 and a 12 month high of $17.68. The firm has a 50 day moving average price of $11.71 and a two-hundred day moving average price of $12.18.

Harmonic (NASDAQ:HLIT) last released its earnings results 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. Harmonic had a positive return on equity of 10.91% and a negative net margin of 8.50%.The company had revenue of $133.46 million for the quarter, compared to the consensus estimate of $120.89 million. During the same period in the previous year, the business earned $0.09 earnings per share. Harmonic’s quarterly revenue was up 53.5% compared to the same quarter last year. Harmonic has set its Q3 2026 guidance at 0.150-0.190 EPS and its FY 2026 guidance at 0.670-0.750 EPS. On average, research analysts forecast that Harmonic will post 0.53 EPS for the current year.

Institutional Investors Weigh In On Harmonic

Several large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Harmonic during the second quarter valued at approximately $294,012,000. Dimensional Fund Advisors LP increased its stake in Harmonic by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,673,398 shares of the communications equipment provider’s stock worth $32,987,000 after acquiring an additional 188,293 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Harmonic by 2.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,196,469 shares of the communications equipment provider’s stock worth $19,724,000 after acquiring an additional 54,157 shares in the last quarter. Silverberg Bernstein Capital Management LLC boosted its position in shares of Harmonic by 2.1% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 1,327,455 shares of the communications equipment provider’s stock valued at $11,921,000 after acquiring an additional 27,817 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Harmonic by 120.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,052,927 shares of the communications equipment provider’s stock valued at $9,455,000 after acquiring an additional 575,800 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

About Harmonic

Harmonic Inc (NASDAQ: HLIT) develops broadband access and video technology for communications service providers, broadcasters, content owners and streaming companies. Its solutions are designed to help customers deliver high-speed internet, television and streaming media services across cable, fiber and other network architectures.

The company’s broadband portfolio includes the CableOS platform, a cloud-native solution that supports the virtualization and management of cable access networks.