Harmonic (NASDAQ:HLIT – Get Free Report)‘s stock had its “buy” rating restated by investment analysts at Rosenblatt Securities in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $20.00 price target on the communications equipment provider’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 72.12% from the company’s current price.
A number of other brokerages also recently issued reports on HLIT. Northland Securities set a $17.00 price target on Harmonic in a report on Thursday, August 13th. Needham & Company LLC reiterated a “buy” rating on shares of Harmonic in a research note on Thursday, August 13th. Barclays upped their price objective on shares of Harmonic from $15.00 to $16.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Raymond James Financial reissued an “outperform” rating and set a $19.00 price objective on shares of Harmonic in a report on Thursday, August 13th. Finally, Weiss Ratings raised Harmonic from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 4th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.50.
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Harmonic Price Performance
Harmonic (NASDAQ:HLIT – Get Free Report) last issued its earnings results on Wednesday, August 12th. The communications equipment provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.07. The business had revenue of $133.46 million during the quarter, compared to analyst estimates of $120.89 million. Harmonic had a positive return on equity of 10.91% and a negative net margin of 8.50%.Harmonic’s revenue was up 53.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. Harmonic has set its Q3 2026 guidance at 0.150-0.190 EPS and its FY 2026 guidance at 0.670-0.750 EPS. On average, research analysts forecast that Harmonic will post 0.53 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Harmonic during the second quarter worth $294,012,000. Dimensional Fund Advisors LP grew its stake in Harmonic by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,673,398 shares of the communications equipment provider’s stock valued at $32,987,000 after acquiring an additional 188,293 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Harmonic by 2.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,196,469 shares of the communications equipment provider’s stock valued at $19,724,000 after acquiring an additional 54,157 shares during the last quarter. Silverberg Bernstein Capital Management LLC raised its holdings in Harmonic by 2.1% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 1,327,455 shares of the communications equipment provider’s stock valued at $11,921,000 after acquiring an additional 27,817 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Harmonic in the 2nd quarter worth approximately $10,509,000. Hedge funds and other institutional investors own 99.38% of the company’s stock.
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.
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