Harmonic (NASDAQ:HLIT) Stock Rating Reaffirmed as “Buy” by Rosenblatt Securities

Harmonic (NASDAQ:HLIT)‘s stock had its “buy” rating restated by 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 indicate a potential upside of 79.05% from the company’s current price.

A number of other equities analysts have also recently issued reports on HLIT. Weiss Ratings cut Harmonic from a “sell (d+)” rating to a “sell (d)” rating in a 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. Northland Securities set a $17.00 price target on Harmonic in a research report on Thursday, August 13th. Wall Street Zen lowered Harmonic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Barclays raised their price target on Harmonic from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.50.

Harmonic Trading Up 4.2%

HLIT traded up $0.45 during midday trading on Thursday, reaching $11.17. 1,809,869 shares of the company were exchanged, compared to its average volume of 1,851,569. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.56 and a current ratio of 3.05. Harmonic has a one year low of $8.47 and a one year high of $17.68. The stock has a market capitalization of $1.22 billion, a P/E ratio of -26.60 and a beta of 1.34. The stock’s 50-day simple moving average is $11.71 and its 200 day simple moving average is $12.18.

Harmonic (NASDAQ:HLIT) last issued its earnings results on Wednesday, August 12th. The communications equipment provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $120.89 million. During the same quarter last year, the business earned $0.09 earnings per share. The company’s 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. As a group, analysts forecast 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 have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Harmonic in the 2nd quarter valued at approximately $294,012,000. Dimensional Fund Advisors LP raised its position 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 valued at $32,987,000 after buying an additional 188,293 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in Harmonic by 2.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,196,469 shares of the communications equipment provider’s stock valued at $19,724,000 after buying an additional 54,157 shares during the last quarter. Silverberg Bernstein Capital Management LLC raised its position in Harmonic by 2.1% in 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 buying an additional 27,817 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Harmonic in the 2nd quarter valued at approximately $10,509,000. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Company Profile

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.