Harmonic (NASDAQ:HLIT) Stock Keeps “Buy” Rating at Rosenblatt Securities

Harmonic (NASDAQ:HLIT)‘s stock had its “buy” rating reaffirmed by Rosenblatt Securities in a research note issued to investors on Thursday, Benzinga reports. They presently have a $20.00 price objective on the communications equipment provider’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 79.05% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Harmonic from a “sell (d+)” rating to a “sell (d)” rating in a research note 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. Needham & Company LLC restated a “buy” rating on shares of 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, Northland Securities set a $17.00 price target on Harmonic 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 assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.50.

Harmonic Trading Up 4.2%

Harmonic stock traded up $0.45 during mid-day trading on Thursday, hitting $11.17. The company’s stock had a trading volume of 1,809,869 shares, compared to its average volume of 1,851,568. The firm has a market capitalization of $1.22 billion, a PE ratio of -26.60 and a beta of 1.34. Harmonic has a 1 year low of $8.47 and a 1 year high of $17.68. The company has a current ratio of 3.05, a quick ratio of 2.56 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average is $11.71 and its two-hundred day moving average is $12.18.

Harmonic (NASDAQ:HLIT) last announced its earnings results 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. The company had revenue of $133.46 million during the quarter, compared to analyst estimates of $120.89 million. Harmonic had a negative net margin of 8.50% and a positive return on equity of 10.91%. Harmonic’s revenue was up 53.5% compared to the same quarter last year. During the same quarter last year, the firm posted $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. On average, analysts anticipate that Harmonic will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Harmonic in the second quarter worth approximately $294,012,000. Dimensional Fund Advisors LP lifted its stake in Harmonic by 5.4% in the first 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 lifted its stake in Harmonic by 2.5% in the first 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 during the last quarter. Silverberg Bernstein Capital Management LLC lifted its stake in Harmonic by 2.1% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 1,327,455 shares of the communications equipment provider’s stock worth $11,921,000 after acquiring an additional 27,817 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Harmonic in the second quarter worth approximately $10,509,000. 99.38% of the stock is currently owned by hedge funds and other 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.