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

Key Points

• Harmonic's earnings surpassed expectations, reporting $0.05 EPS compared to the estimated $0.03, showcasing a strong return on equity of 18.28% and a net margin of 7.72%.
• The company's stock (NASDAQ:HLIT) saw an increase of $0.14, closing at $9.14, with institutional investors owning approximately 99.38% of the shares.
• Analysts have mixed views on Harmonic, with a consensus rating of "Hold" and an average price target of $12.33, reflecting differing opinions on the company's future performance.

Harmonic (NASDAQ:HLIT - Get Free Report) issued its quarterly earnings data on Monday. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.06, Briefing.com reports. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The company had revenue of $138.03 million during the quarter, compared to the consensus estimate of $134.90 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The firm's revenue was down .5% compared to the same quarter last year. Harmonic updated its Q3 2025 guidance to 0.020-0.070 EPS.

Harmonic Stock Performance

HLIT stock traded down $0.09 during mid-day trading on Friday, reaching $8.43. The company had a trading volume of 266,342 shares, compared to its average volume of 1,173,553. The company has a quick ratio of 1.69, a current ratio of 1.99 and a debt-to-equity ratio of 0.27. The stock's 50-day simple moving average is $9.22 and its two-hundred day simple moving average is $9.76. Harmonic has a one year low of $7.80 and a one year high of $15.46. The stock has a market capitalization of $952.87 million, a P/E ratio of 14.28 and a beta of 1.05.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays set a $8.00 price target on Harmonic and gave the company an "equal weight" rating in a research note on Tuesday. Needham & Company LLC reduced their price target on shares of Harmonic from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday. Wolfe Research assumed coverage on shares of Harmonic in a research report on Tuesday, July 8th. They issued an "underperform" rating for the company. Rosenblatt Securities reissued a "buy" rating and issued a $11.00 price target on shares of Harmonic in a research note on Tuesday. Finally, Wall Street Zen cut shares of Harmonic from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Harmonic currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.67.

Institutional Trading of Harmonic

Several institutional investors and hedge funds have recently bought and sold shares of HLIT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Harmonic by 9.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,538 shares of the communications equipment provider's stock valued at $3,390,000 after purchasing an additional 31,276 shares during the last quarter. Jane Street Group LLC increased its position in Harmonic by 978.5% in the first quarter. Jane Street Group LLC now owns 247,480 shares of the communications equipment provider's stock worth $2,373,000 after purchasing an additional 224,534 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Harmonic by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,664 shares of the communications equipment provider's stock worth $630,000 after purchasing an additional 2,853 shares in the last quarter. Institutional investors and hedge funds own 99.38% 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.