Harmonic (NASDAQ:HLIT) Issues Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• Harmonic beat quarterly expectations, reporting adjusted EPS of $0.24 versus the $0.17 consensus and revenue of $133.46 million versus estimates of $120.89 million.
• The company updated its outlook to $0.15–$0.19 EPS for Q3 2026 and $0.67–$0.75 EPS for full-year 2026.
• Shares rose 4.8% to $12.00 after the results, while analysts maintained a consensus “Hold” rating with an average price target of $16.60.

Harmonic (NASDAQ:HLIT - Get Free Report) announced its earnings results on Wednesday. The communications equipment provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.07, FiscalAI reports. The firm had revenue of $133.46 million during the quarter, compared to the consensus estimate of $120.89 million. Harmonic had a negative net margin of 7.50% and a positive return on equity of 7.84%. Harmonic updated its Q3 2026 guidance to 0.150-0.190 EPS and its FY 2026 guidance to 0.670-0.750 EPS.

Harmonic Trading Up 4.8%

Shares of HLIT traded up $0.55 during mid-day trading on Wednesday, reaching $12.00. The company had a trading volume of 2,796,201 shares, compared to its average volume of 1,904,068. Harmonic has a fifty-two week low of $8.47 and a fifty-two week high of $17.68. The firm has a fifty day simple moving average of $13.39 and a 200-day simple moving average of $11.75. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -32.43 and a beta of 1.32. The company has a current ratio of 2.27, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31.

Insider Activity at Harmonic

In related news, Director Stephanie Copeland sold 4,300 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $13.30, for a total value of $57,190.00. Following the transaction, the director directly owned 20,752 shares of the company's stock, valued at approximately $276,001.60. This trade represents a 17.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Harmonic

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Harmonic by 1.8% in the 4th quarter. State Street Corp now owns 4,471,187 shares of the communications equipment provider's stock worth $44,220,000 after purchasing an additional 80,791 shares during the period. Dimensional Fund Advisors LP increased its position in Harmonic by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,485,105 shares of the communications equipment provider's stock worth $34,468,000 after purchasing an additional 24,062 shares in the last quarter. Alliancebernstein L.P. increased its position in Harmonic by 2.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,406,945 shares of the communications equipment provider's stock worth $24,503,000 after purchasing an additional 68,921 shares in the last quarter. Marshall Wace LLP raised its holdings in Harmonic by 10.8% in the third quarter. Marshall Wace LLP now owns 2,132,625 shares of the communications equipment provider's stock valued at $21,710,000 after buying an additional 207,476 shares during the period. Finally, Alyeska Investment Group L.P. raised its holdings in Harmonic by 9.5% in the third quarter. Alyeska Investment Group L.P. now owns 2,013,804 shares of the communications equipment provider's stock valued at $20,501,000 after buying an additional 174,203 shares during the period. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HLIT shares. Zacks Research downgraded shares of Harmonic from a "strong-buy" rating to a "hold" rating in a report on Friday, July 24th. Needham & Company LLC upped their price objective on shares of Harmonic from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Rosenblatt Securities restated a "buy" rating and set a $20.00 target price on shares of Harmonic in a research report on Monday, June 15th. Weiss Ratings raised shares of Harmonic from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, July 17th. Finally, Northland Securities set a $15.00 price target on Harmonic in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $16.60.

Harmonic Company Profile

Harmonic Inc NASDAQ: HLIT is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company's portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic's product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.

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