Harmonic’s (HLIT) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Harmonic (NASDAQ:HLIT) in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a $20.00 price objective on the communications equipment provider’s stock.

HLIT has been the topic of several other research reports. Needham & Company LLC reiterated a “buy” rating on shares of Harmonic in a report on Thursday, August 13th. Northland Securities set a $17.00 price objective on Harmonic in a report on Thursday, August 13th. Wall Street Zen lowered Harmonic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded Harmonic from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 4th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $19.00 price target on shares of Harmonic in a research report on Thursday, August 13th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.50.

Harmonic Trading Up 1.0%

HLIT opened at $11.10 on Wednesday. Harmonic has a 1-year low of $8.47 and a 1-year high of $17.68. The company has a current ratio of 3.05, a quick ratio of 2.56 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.21 billion, a P/E ratio of -26.43 and a beta of 1.32. The company has a fifty day moving average price of $12.00 and a two-hundred day moving average price of $12.09.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Wednesday, August 12th. The communications equipment provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.07. The firm had revenue of $133.46 million for the quarter, compared to analyst estimates of $120.89 million. Harmonic had a negative net margin of 8.50% and a positive return on equity of 10.91%. The business’s quarterly revenue was up 53.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. Harmonic has set its Q3 2026 guidance at 0.150-0.190 EPS and its FY 2026 guidance at 0.670-0.750 EPS. Analysts predict that Harmonic will post 0.53 EPS for the current fiscal year.

Institutional Trading of Harmonic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HLIT. Engineers Gate Manager LP boosted its position in shares of Harmonic by 59.6% during the second quarter. Engineers Gate Manager LP now owns 76,479 shares of the communications equipment provider’s stock valued at $1,249,000 after buying an additional 28,545 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Harmonic in the 2nd quarter valued at $47,000. Squarepoint Ops LLC lifted its stake in Harmonic by 486.9% during the 2nd quarter. Squarepoint Ops LLC now owns 344,782 shares of the communications equipment provider’s stock valued at $5,630,000 after acquiring an additional 286,038 shares in the last quarter. Nykredit A S bought a new position in Harmonic during the 2nd quarter valued at $36,000. Finally, Allianz Asset Management GmbH purchased a new position in Harmonic during the 2nd quarter worth $4,090,000. 99.38% of the stock is owned by institutional investors.

About Harmonic

Harmonic Inc (NASDAQ: HLIT) develops broadband access and video delivery solutions for communications and media companies. Its broadband portfolio includes the CableOS platform, which supports virtualized and software-based cable access networks, along with technologies for fiber, hybrid fiber-coaxial and distributed access architectures. These solutions are designed to help service providers expand network capacity, improve operating flexibility and deliver high-speed broadband services.

Harmonic also provides video infrastructure and software for broadcasters, streaming providers, pay-TV operators and other media organizations.