Rosenblatt Securities Reaffirms Buy Rating for Harmonic (NASDAQ:HLIT)

Key Points

• Rosenblatt Securities reaffirmed its Buy rating on Harmonic and maintained a $20 price target, implying approximately 89% upside from the stock’s $10.56 price.
• Analyst sentiment is mixed overall: Harmonic has three Buy, three Hold and one Sell rating, resulting in a consensus rating of Hold and an average price target of $17.50.
• Harmonic exceeded quarterly expectations, reporting $0.24 in EPS versus the $0.17 consensus and $133.46 million in revenue, up 53.5% year over year.

Harmonic (NASDAQ:HLIT - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Rosenblatt Securities in a research note issued to investors on Thursday, Benzinga reports. They presently have a $20.00 price target on the communications equipment provider's stock. Rosenblatt Securities' price target would suggest a potential upside of 89.39% from the company's current price.

A number of other equities analysts also recently issued reports on the company. Northland Securities set a $17.00 price target on Harmonic in a research report on Thursday, August 13th. Weiss Ratings cut shares of Harmonic from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, September 22nd. Wall Street Zen lowered shares of Harmonic from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Needham & Company LLC reiterated a "buy" rating on shares of Harmonic in a research note on Thursday, August 13th. Finally, Zacks Research cut Harmonic from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $17.50.

Harmonic Stock Performance

NASDAQ:HLIT opened at $10.56 on Thursday. The stock has a market capitalization of $1.15 billion, a P/E ratio of -25.14 and a beta of 1.32. The stock has a 50-day moving average price of $11.73 and a 200 day moving average price of $12.17. Harmonic has a 12-month low of $8.47 and a 12-month 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.

Harmonic (NASDAQ:HLIT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The communications equipment provider reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.07. The firm had revenue of $133.46 million during the quarter, compared to analyst estimates of $120.89 million. Harmonic had a positive return on equity of 10.91% and a negative net margin of 8.50%.The business's quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter last year, the business 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. Equities research analysts forecast that Harmonic will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Harmonic

Several hedge funds have recently made changes to their positions in HLIT. BlackRock Inc. purchased a new stake in Harmonic in the second quarter valued at approximately $294,012,000. Bank of New York Mellon Corp acquired a new position in shares of Harmonic during the second quarter valued at $10,509,000. Renaissance Technologies LLC boosted its position in Harmonic by 120.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,052,927 shares of the communications equipment provider's stock worth $9,455,000 after acquiring an additional 575,800 shares during the period. Squarepoint Ops LLC raised its holdings in Harmonic by 486.9% during the second quarter. Squarepoint Ops LLC now owns 344,782 shares of the communications equipment provider's stock worth $5,630,000 after purchasing an additional 286,038 shares in the last quarter. Finally, Allianz Asset Management GmbH acquired a new stake in Harmonic during the second quarter valued at approximately $4,090,000. Hedge funds and other institutional investors own 99.38% of the company's stock.

Harmonic Company Profile

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.