Harmonic’s (HLIT) “Buy” Rating Reaffirmed at Rosenblatt Securities

Harmonic (NASDAQ:HLIT)‘s stock had its “buy” rating reiterated by investment analysts at Rosenblatt Securities in a research note issued on Thursday, Benzinga reports. They currently have a $20.00 price target on the communications equipment provider’s stock. Rosenblatt Securities‘s target price would suggest a potential upside of 86.39% from the company’s previous close.

HLIT has been the topic of a number of other reports. Weiss Ratings upgraded shares of Harmonic from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Barclays increased their price objective on shares of Harmonic from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Needham & Company LLC restated a “buy” rating on shares of Harmonic in a research report on Thursday, August 13th. Northland Securities set a $17.00 target price on Harmonic in a report on Thursday, August 13th. Finally, Zacks Research cut Harmonic from a “strong-buy” rating to a “hold” rating in a report on Friday, July 24th. Three 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.50.

Harmonic Trading Up 1.5%

Shares of HLIT opened at $10.73 on Thursday. The firm has a market cap of $1.17 billion, a P/E ratio of -25.55 and a beta of 1.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.56. Harmonic has a 1 year low of $8.47 and a 1 year high of $17.68. The company has a 50 day simple moving average of $11.25 and a two-hundred day simple moving average of $11.56.

Harmonic (NASDAQ:HLIT) last released its earnings results on Wednesday, August 12th. The communications equipment provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.17 by $0.07. Harmonic had a negative net margin of 8.50% and a positive return on equity of 10.91%. The firm had revenue of $133.46 million for the quarter, compared to the consensus estimate of $120.89 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The company’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, equities analysts expect that Harmonic will post 0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Harmonic

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Harmonic in the 2nd quarter valued at approximately $294,012,000. Bank of New York Mellon Corp bought a new position in shares of Harmonic during the 2nd quarter valued at approximately $10,509,000. Renaissance Technologies LLC lifted its position in Harmonic by 120.7% in the first quarter. Renaissance Technologies LLC now owns 1,052,927 shares of the communications equipment provider’s stock worth $9,455,000 after buying an additional 575,800 shares during the last quarter. Squarepoint Ops LLC lifted its position in Harmonic by 486.9% in the second quarter. Squarepoint Ops LLC now owns 344,782 shares of the communications equipment provider’s stock worth $5,630,000 after buying an additional 286,038 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in Harmonic during the second quarter worth $4,090,000. Institutional investors own 99.38% of the company’s stock.

About Harmonic

Harmonic Inc (NASDAQ: HLIT) develops broadband access and video-delivery technologies for communications service providers, content providers and broadcasters. Its solutions help operators deliver high-speed internet, television and streaming services across cable, fiber and other network infrastructures.

The company’s broadband portfolio includes its CableOS platform, a software-based solution designed to support virtualized broadband access networks, along with technologies for DOCSIS, fiber and hybrid fiber-coaxial networks.