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

Key Points

• Rosenblatt Securities reiterated its “buy” rating on Harmonic and set a $20 price target, implying approximately 86% upside from the reported $10.73 share price.
• Analyst sentiment is mixed overall: Harmonic has three Buy, three Hold, and one Sell rating, resulting in a consensus “Hold” rating and an average price target of $17.50.
• Harmonic’s latest quarterly results exceeded expectations, with adjusted EPS of $0.24 versus $0.17 expected and revenue of $133.46 million, up 53.5% year over year.

Harmonic (NASDAQ:HLIT - Get Free Report)'s stock had its "buy" rating reiterated by Rosenblatt Securities in a report released on Thursday, Benzinga reports. They currently have a $20.00 target price on the communications equipment provider's stock. Rosenblatt Securities's price objective indicates a potential upside of 86.39% from the stock's current price.

HLIT has been the subject of a number of other research reports. Barclays boosted their price objective on shares of Harmonic from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. Wall Street Zen downgraded Harmonic from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Zacks Research lowered Harmonic from a "strong-buy" rating to a "hold" rating in a report on Friday, July 24th. Raymond James Financial restated an "outperform" rating and issued a $19.00 price target on shares of Harmonic in a research report on Thursday, August 13th. Finally, Weiss Ratings raised Harmonic from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, October 8th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $17.50.

Harmonic Stock Performance

HLIT opened at $10.73 on Thursday. The company's 50 day moving average is $11.25 and its 200 day moving average is $11.56. 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 company has a market cap of $1.17 billion, a price-to-earnings ratio of -25.55 and a beta of 1.34. Harmonic has a 12-month low of $8.47 and a 12-month high of $17.68.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its earnings results on Wednesday, August 12th. The communications equipment provider reported $0.24 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $133.46 million during the quarter, compared to analysts' expectations of $120.89 million. During the same period in the prior year, the company earned $0.09 earnings per share. The firm's revenue was up 53.5% on a year-over-year basis. 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 research analysts predict that Harmonic will post 0.53 EPS for the current year.

Institutional Trading of Harmonic

Several institutional investors and hedge funds have recently modified their holdings of HLIT. Nykredit A S purchased a new position in shares of Harmonic during the 2nd quarter valued at $36,000. Sterling Capital Management LLC increased its stake in Harmonic by 847.4% in the 3rd quarter. Sterling Capital Management LLC now owns 3,695 shares of the communications equipment provider's stock worth $39,000 after buying an additional 3,305 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Harmonic in the 2nd quarter worth $47,000. Northwestern Mutual Wealth Management Co. bought a new stake in Harmonic during the second quarter valued at about $49,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Harmonic during the first quarter valued at about $75,000. 99.38% of the stock is currently owned by institutional investors.

Harmonic Company Profile

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.

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