Harmonic's (HLIT) "Buy" Rating Reaffirmed at Rosenblatt Securities

Key Points

• Rosenblatt Securities reaffirmed its “Buy” rating on Harmonic, maintaining a $20 price target—implying approximately 72% upside from the prior close.
• Harmonic reported quarterly EPS of $0.24, exceeding the $0.17 consensus estimate, while revenue rose 53.5% year over year to $133.46 million.
• Analyst sentiment remains mixed: three analysts rate the stock a Buy, three a Hold and one a Sell, resulting in a consensus Hold rating and a $17.50 target price. Institutional investors own 99.38% of the company.

Harmonic (NASDAQ:HLIT - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Rosenblatt Securities in a report released on Wednesday, 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 72.12% from the stock'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 Friday, September 4th. 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. Northland Securities set a $17.00 target price on Harmonic in a 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. Finally, Needham & Company LLC reissued a "buy" rating on shares of Harmonic in a research note on Thursday, August 13th. 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $17.50.

Harmonic Price Performance

HLIT opened at $11.62 on Wednesday. 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 52-week low of $8.47 and a 52-week high of $17.68. The stock has a market capitalization of $1.27 billion, a P/E ratio of -27.67 and a beta of 1.32. The company's 50-day simple moving average is $12.18 and its two-hundred day simple moving average is $12.09.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The communications equipment provider reported $0.24 earnings per share (EPS) for the quarter, beating 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 business had revenue of $133.46 million during the quarter, compared to the consensus estimate of $120.89 million. During the same period in the previous year, the company posted $0.09 EPS. The business'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. As a group, analysts predict that Harmonic will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HLIT. BlackRock Inc. bought a new position in Harmonic during the 2nd quarter valued at about $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 purchasing an additional 188,293 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Harmonic by 2.5% during the first 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 period. Silverberg Bernstein Capital Management LLC grew its stake in shares of Harmonic by 2.1% during the first 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, Renaissance Technologies LLC grew its stake in shares of Harmonic by 120.7% during the first quarter. Renaissance Technologies LLC now owns 1,052,927 shares of the communications equipment provider's stock valued at $9,455,000 after buying an additional 575,800 shares during the last quarter. Institutional investors own 99.38% of the company's stock.

About Harmonic

Harmonic Inc NASDAQ: HLIT develops broadband access and video delivery solutions for communications and media companies. Its broadband portfolio includes the CableOS platform, which supports virtualized and software-based cable access networks, along with technologies for fiber, hybrid fiber-coaxial and distributed access architectures. These solutions are designed to help service providers expand network capacity, improve operating flexibility and deliver high-speed broadband services.

Harmonic also provides video infrastructure and software for broadcasters, streaming providers, pay-TV operators and other media organizations.

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