Harmonic (NASDAQ:HLIT) Price Target Raised to $14.00 at Rosenblatt Securities

Key Points

• Rosenblatt Securities has raised its price target for Harmonic (NASDAQ:HLIT) from $11.00 to $14.00, indicating a potential upside of 37.52% from the previous close.
• Harmonic's stock received mixed ratings from analysts, with four ratings as Buy, two as Hold, and one as Sell, resulting in a consensus rating of Hold and an average target price of $12.17.
• In its latest earnings report, Harmonic beat analyst expectations with an EPS of $0.09 and reported revenue of $138.03 million, slightly down from the previous year.

Harmonic (NASDAQ:HLIT - Get Free Report) had its target price lifted by equities researchers at Rosenblatt Securities from $11.00 to $14.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the communications equipment provider's stock. Rosenblatt Securities' price target would suggest a potential upside of 37.52% from the stock's previous close.

Several other research analysts have also issued reports on HLIT. Barclays dropped their target price on Harmonic from $10.00 to $8.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 29th. Wolfe Research initiated coverage on Harmonic in a report on Tuesday, July 8th. They set an "underperform" rating for the company. Wall Street Zen cut Harmonic from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Needham & Company LLC lowered their target price on shares of Harmonic from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Harmonic currently has a consensus rating of "Hold" and an average target price of $12.17.

Harmonic Stock Up 1.4%

NASDAQ HLIT opened at $10.18 on Wednesday. The company has a quick ratio of 1.58, a current ratio of 1.99 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $9.43 and a two-hundred day moving average of $9.33. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 17.25 and a beta of 1.01. Harmonic has a 52 week low of $7.80 and a 52 week high of $15.46.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The communications equipment provider reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.06. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The firm had revenue of $138.03 million during the quarter, compared to analysts' expectations of $134.90 million. During the same period in the previous year, the company earned $0.08 EPS. The firm's revenue for the quarter was down .5% compared to the same quarter last year. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. On average, analysts predict that Harmonic will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On Harmonic

Several hedge funds have recently made changes to their positions in HLIT. Arizona State Retirement System lifted its stake in Harmonic by 4.2% in the first quarter. Arizona State Retirement System now owns 33,392 shares of the communications equipment provider's stock worth $320,000 after acquiring an additional 1,344 shares during the period. Cresset Asset Management LLC lifted its stake in Harmonic by 16.5% in the first quarter. Cresset Asset Management LLC now owns 11,721 shares of the communications equipment provider's stock worth $112,000 after acquiring an additional 1,660 shares during the period. Prudential Financial Inc. lifted its position in shares of Harmonic by 1.6% in the 2nd quarter. Prudential Financial Inc. now owns 118,226 shares of the communications equipment provider's stock worth $1,120,000 after purchasing an additional 1,829 shares during the period. Bouvel Investment Partners LLC lifted its position in shares of Harmonic by 1.8% in the 1st quarter. Bouvel Investment Partners LLC now owns 120,524 shares of the communications equipment provider's stock worth $1,156,000 after purchasing an additional 2,079 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in shares of Harmonic by 3.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 67,306 shares of the communications equipment provider's stock worth $636,000 after purchasing an additional 2,448 shares during the period. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Harmonic Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.