Harmonic (NASDAQ:HLIT) Trading Up 10.5% - Here's What Happened

Key Points

• Harmonic (NASDAQ:HLIT) shares jumped 10.5% Thursday to about $11.41, trading as high as $11.31 on volume of ~811,618 shares (roughly 23% below average).
• Analyst views are mixed: Needham hiked its target to $17 and Rosenblatt holds a buy at $16 while Weiss cut to a sell; the consensus rating is Hold with a consensus target price of $14.50.
• Harmonic reported Q4 EPS of $0.06, missing estimates and showing a ~42.6% YoY revenue decline to roughly $53.0M, but issued FY2026 guidance of 0.460–0.630 EPS (Q1 0.110–0.120) and analysts forecast about 0.35 EPS for the year.

Harmonic Inc. (NASDAQ:HLIT - Get Free Report) was up 10.5% on Thursday . The stock traded as high as $11.31 and last traded at $11.4060. Approximately 811,618 shares traded hands during trading, a decline of 23% from the average daily volume of 1,056,218 shares. The stock had previously closed at $10.32.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HLIT shares. Needham & Company LLC increased their price target on Harmonic from $15.00 to $17.00 and gave the company a "buy" rating in a report on Friday, February 20th. Rosenblatt Securities reissued a "buy" rating and set a $16.00 price target on shares of Harmonic in a report on Friday, March 27th. Weiss Ratings cut Harmonic from a "hold (c)" rating to a "sell (d)" rating in a report on Friday, March 6th. Finally, Northland Securities set a $14.00 price target on Harmonic in a report on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $14.50.

Harmonic Price Performance

The company has a current ratio of 2.50, a quick ratio of 2.26 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.24 billion, a PE ratio of -29.28 and a beta of 1.10. The stock has a 50 day simple moving average of $9.85 and a 200-day simple moving average of $9.98.

Harmonic (NASDAQ:HLIT - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.04). Harmonic had a positive return on equity of 5.91% and a negative net margin of 7.59%.The business had revenue of ($53.02) million during the quarter, compared to analysts' expectations of $140.98 million. During the same quarter in the previous year, the company posted $0.45 EPS. The company's quarterly revenue was down 42.6% on a year-over-year basis. Harmonic has set its FY 2026 guidance at 0.460-0.630 EPS and its Q1 2026 guidance at 0.110-0.120 EPS. Equities analysts anticipate that Harmonic Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. iSAM Funds UK Ltd purchased a new position in shares of Harmonic during the third quarter valued at about $49,000. McIlrath & Eck LLC purchased a new position in shares of Harmonic during the third quarter valued at about $57,000. Global Retirement Partners LLC grew its position in shares of Harmonic by 23,193.5% during the fourth quarter. Global Retirement Partners LLC now owns 7,221 shares of the communications equipment provider's stock valued at $71,000 after purchasing an additional 7,190 shares in the last quarter. KBC Group NV grew its position in shares of Harmonic by 130.7% during the fourth quarter. KBC Group NV now owns 7,476 shares of the communications equipment provider's stock valued at $74,000 after purchasing an additional 4,236 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of Harmonic by 64.6% during the fourth quarter. Royal Bank of Canada now owns 7,645 shares of the communications equipment provider's stock valued at $75,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 99.38% of the company's stock.

About Harmonic

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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