Harmonic (NASDAQ:HLIT) Stock Price Target Lowered at Jefferies Financial Group

Key Points

• Jefferies cut Harmonic’s price target from $15 to $13 and maintained a “hold” rating; its revised target implies about 26% upside from the prior close.
• Harmonic beat quarterly expectations, reporting EPS of $0.23 versus $0.17 expected and revenue of $148.8 million versus $129.5 million; revenue increased 64.5% year over year.
• Analyst views remain mixed: MarketBeat’s consensus rating is “hold,” with an average price target of $16.83.

Harmonic (NASDAQ:HLIT - Get Free Report) had its price objective cut by analysts at Jefferies Financial Group from $15.00 to $13.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a "hold" rating on the communications equipment provider's stock. Jefferies Financial Group's price objective points to a potential upside of 26.03% from the stock's previous close.

Several other brokerages have also recently issued reports on HLIT. Northland Securities set a $17.00 price objective on Harmonic in a report on Thursday, August 13th. Raymond James Financial reissued an "outperform" rating and issued a $19.00 price target on shares of Harmonic in a report on Thursday, August 13th. Needham & Company LLC reaffirmed a "buy" rating on shares of Harmonic in a research note on Thursday, August 13th. Rosenblatt Securities reissued a "buy" rating and set a $20.00 price target on shares of Harmonic in a report on Thursday, October 29th. Finally, Barclays dropped their price target on shares of Harmonic from $16.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $16.83.

Harmonic Stock Performance

NASDAQ HLIT traded up $0.12 on Tuesday, hitting $10.31. 2,692,470 shares of the company's stock traded hands, compared to its average volume of 1,815,568. The company has a current ratio of 3.05, a quick ratio of 2.56 and a debt-to-equity ratio of 0.30. Harmonic has a 1-year low of $8.47 and a 1-year high of $17.68. The firm's 50-day moving average price is $11.12 and its two-hundred day moving average price is $11.57. The firm has a market capitalization of $1.13 billion, a PE ratio of -24.70 and a beta of 1.34.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The communications equipment provider reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. Harmonic had a negative net margin of 8.50% and a positive return on equity of 10.91%. The firm had revenue of $148.84 million for the quarter, compared to analyst estimates of $129.47 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. The business's quarterly revenue was up 64.5% compared to the same quarter last year. As a group, analysts expect that Harmonic will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Nykredit A S purchased a new position in shares of Harmonic in the second quarter worth about $36,000. Integrated Wealth Concepts LLC purchased a new stake in Harmonic during the 2nd quarter valued at about $47,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Harmonic during the 2nd quarter valued at about $49,000. Sterling Capital Management LLC raised its holdings 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 valued at $39,000 after acquiring an additional 3,305 shares during the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in Harmonic in the 2nd quarter valued at about $105,000. 99.38% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Harmonic

Here are the key news stories impacting Harmonic this week:

• Positive Sentiment: Harmonic reported third-quarter earnings of $0.23 per share, exceeding the $0.17 analyst consensus, while revenue rose 64% year over year to $148.8 million and surpassed expectations of $129.5 million. Harmonic Announces Third Quarter 2026 Results
• Positive Sentiment: Management raised its full-year 2026 forecast to revenue of $545 million-$555 million and EPS of $0.80-$0.84, well above consensus estimates of $517 million and $0.50, respectively. Harmonic Updates 2026 Guidance
• Positive Sentiment: Fourth-quarter guidance also exceeded expectations, with EPS projected at $0.19-$0.23 versus the $0.12 consensus and revenue of $141 million-$151 million versus $131.6 million expected. Harmonic Updates Fourth-Quarter Guidance
• Positive Sentiment: Rest-of-Market revenue more than doubled year over year and reached a record 46% of total revenue, suggesting stronger diversification and demand beyond Harmonic’s traditional markets. Harmonic Third-Quarter Results
• Neutral Sentiment: Barclays lowered its price target from $16 to $14 and maintained an “equal weight” rating. The new target still implies meaningful upside, but the reduction signals limited analyst conviction following the results. Barclays Revises Harmonic Price Target

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.

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