Harmonic Inc. (NASDAQ:HLIT) Stock Rated "Hold" by Wall Street Brokerages

Key Points

• Harmonic has a consensus “Hold” rating among seven analysts, split between three buys, three holds, and one sell. The average 12-month price target is $17.50, with individual targets ranging from $16 to $20.
• Institutional investors own 99.38% of Harmonic’s shares; BlackRock recently established a stake valued at approximately $294 million, while several other funds increased their positions.
• Harmonic’s latest quarterly results exceeded expectations, with EPS of $0.24 versus a $0.17 estimate and revenue of $133.46 million, up 53.5% year over year. Shares opened at $10.01, below the 50-day and 200-day moving averages.

Shares of Harmonic Inc. (NASDAQ:HLIT - Get Free Report) have received a consensus rating of "Hold" from the seven research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $17.50.

Several brokerages recently issued reports on HLIT. Zacks Research lowered Harmonic from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 24th. Barclays raised their price target on Harmonic from $15.00 to $16.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th. Northland Securities set a $17.00 price target on Harmonic in a report on Thursday, August 13th. Rosenblatt Securities restated a "buy" rating and set a $20.00 price target on shares of Harmonic in a research note on Thursday, October 1st. Finally, Raymond James Financial restated an "outperform" rating and set a $19.00 price objective on shares of Harmonic in a report on Thursday, August 13th.

Institutional Trading of Harmonic

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Harmonic during the second quarter worth about $294,012,000. Dimensional Fund Advisors LP boosted its position 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 valued at $32,987,000 after buying an additional 188,293 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Harmonic by 2.5% in 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 last quarter. Silverberg Bernstein Capital Management LLC increased its holdings in Harmonic by 2.1% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 1,327,455 shares of the communications equipment provider's stock worth $11,921,000 after buying an additional 27,817 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Harmonic in the 2nd quarter worth approximately $10,509,000. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Harmonic Price Performance

Shares of HLIT opened at $10.01 on Thursday. The company has a 50 day moving average of $11.61 and a two-hundred day moving average of $12.28. The company has a quick ratio of 2.56, a current ratio of 3.05 and a debt-to-equity ratio of 0.30. Harmonic has a twelve month low of $8.47 and a twelve month high of $17.68. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -23.83 and a beta of 1.34.

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

About Harmonic

Harmonic Inc NASDAQ: HLIT develops broadband access and video technology for communications service providers, broadcasters, content owners and streaming companies. Its solutions are designed to help customers deliver high-speed internet, television and streaming media services across cable, fiber and other network architectures.

The company's broadband portfolio includes the CableOS platform, a cloud-native solution that supports the virtualization and management of cable access networks.

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