Harmonic (NASDAQ:HLIT) Releases Earnings Results, Beats Expectations By $0.06 EPS

Harmonic (NASDAQ:HLIT - Get Free Report) posted its quarterly earnings data on Monday. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06, Briefing.com reports. Harmonic had a return on equity of 15.90% and a net margin of 5.78%. The business had revenue of $133.14 million for the quarter, compared to analysts' expectations of $127.51 million. Harmonic's revenue was up 9.1% on a year-over-year basis. Harmonic updated its Q2 2025 guidance to -0.040 EPS.

Harmonic Stock Performance

NASDAQ HLIT opened at $9.34 on Tuesday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 26.96 and a beta of 0.92. The company has a current ratio of 2.18, a quick ratio of 1.80 and a debt-to-equity ratio of 0.26. Harmonic has a twelve month low of $7.91 and a twelve month high of $15.46. The stock has a 50-day moving average of $9.65 and a 200 day moving average of $11.49.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HLIT. Jefferies Financial Group assumed coverage on Harmonic in a report on Friday, February 21st. They issued a "hold" rating for the company. Needham & Company LLC restated a "buy" rating and set a $14.00 price objective on shares of Harmonic in a research note on Tuesday. Barclays cut their price target on shares of Harmonic from $14.00 to $10.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Northland Securities dropped their price objective on shares of Harmonic from $14.00 to $12.50 and set an "outperform" rating on the stock in a report on Tuesday, February 11th. Finally, Rosenblatt Securities cut their price objective on shares of Harmonic from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Harmonic has an average rating of "Moderate Buy" and a consensus price target of $12.33.

Harmonic announced that its board has approved a share repurchase program on Monday, February 10th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the communications equipment provider to repurchase up to 15.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Harmonic

In other Harmonic news, Director David Krall purchased 10,000 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $9.78 per share, for a total transaction of $97,800.00. Following the completion of the acquisition, the director now directly owns 163,490 shares in the company, valued at $1,598,932.20. This represents a 6.52 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Walter Jankovic purchased 12,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was purchased at an average price of $9.44 per share, for a total transaction of $113,280.00. Following the completion of the acquisition, the chief financial officer now owns 46,129 shares of the company's stock, valued at approximately $435,457.76. This represents a 35.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 32,780 shares of company stock worth $316,607 over the last 90 days. Corporate insiders own 2.36% of the company's stock.

About Harmonic

Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.