Harmonic (NASDAQ:HLIT – Get Free Report) had its target price lowered by investment analysts at Jefferies Financial Group from $15.00 to $13.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the communications equipment provider’s stock. Jefferies Financial Group‘s price objective would suggest a potential upside of 26.03% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reissued a “buy” rating on shares of Harmonic in a report on Thursday, August 13th. Weiss Ratings raised shares of Harmonic from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Wall Street Zen lowered shares of Harmonic from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Raymond James Financial reiterated an “outperform” rating and issued a $19.00 target price on shares of Harmonic in a report on Thursday, August 13th. Finally, Zacks Research cut shares of Harmonic from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.83.
View Our Latest Research Report on Harmonic
Harmonic Trading Up 1.2%
NASDAQ HLIT traded up $0.12 on Tuesday, reaching $10.31. 2,692,470 shares of the company were exchanged, compared to its average volume of 1,815,568. The business’s fifty day moving average price is $11.12 and its 200 day moving average price is $11.57. The stock has a market capitalization of $1.13 billion, a P/E ratio of -24.70 and a beta of 1.34. The company has a current ratio of 3.05, a quick ratio of 2.56 and a debt-to-equity ratio of 0.30. Harmonic has a fifty-two week low of $8.47 and a fifty-two week high of $17.68.
Harmonic (NASDAQ:HLIT – Get Free Report) last issued its earnings results on Monday, November 2nd. The communications equipment provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Harmonic had a positive return on equity of 10.91% and a negative net margin of 8.50%. The business had revenue of $148.84 million during the quarter, compared to the consensus estimate of $129.47 million. During the same period last year, the company earned $0.12 EPS. The company’s revenue for the quarter was up 64.5% on a year-over-year basis. Analysts forecast that Harmonic will post 0.53 earnings per share for the current year.
Hedge Funds Weigh In On Harmonic
Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Harmonic in the second quarter valued at about $294,012,000. Dimensional Fund Advisors LP increased its position in shares of Harmonic by 5.4% during the first 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 during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Harmonic by 2.5% during the first 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. Bank of New York Mellon Corp purchased a new stake in shares of Harmonic in the 2nd quarter valued at approximately $10,509,000. Finally, Renaissance Technologies LLC raised its stake in shares of Harmonic by 120.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,052,927 shares of the communications equipment provider’s stock valued at $9,455,000 after acquiring an additional 575,800 shares during the period. Institutional investors and hedge funds own 99.38% of the company’s stock.
Harmonic News Roundup
Here are the key news stories impacting Harmonic this week:
- Positive Sentiment: Harmonic reported third-quarter earnings of $0.23 per share, exceeding the $0.17 analyst consensus, while revenue rose 64% year over year to $148.8 million and surpassed expectations of $129.5 million. Harmonic Announces Third Quarter 2026 Results
- Positive Sentiment: Management raised its full-year 2026 forecast to revenue of $545 million-$555 million and EPS of $0.80-$0.84, well above consensus estimates of $517 million and $0.50, respectively. Harmonic Updates 2026 Guidance
- Positive Sentiment: Fourth-quarter guidance also exceeded expectations, with EPS projected at $0.19-$0.23 versus the $0.12 consensus and revenue of $141 million-$151 million versus $131.6 million expected. Harmonic Updates Fourth-Quarter Guidance
- Positive Sentiment: Rest-of-Market revenue more than doubled year over year and reached a record 46% of total revenue, suggesting stronger diversification and demand beyond Harmonic’s traditional markets. Harmonic Third-Quarter Results
- Neutral Sentiment: Barclays lowered its price target from $16 to $14 and maintained an “equal weight” rating. The new target still implies meaningful upside, but the reduction signals limited analyst conviction following the results. Barclays Revises Harmonic Price Target
About Harmonic
Harmonic Inc (NASDAQ: HLIT) develops broadband access and video-delivery technologies for communications service providers, content providers and broadcasters. Its solutions help operators deliver high-speed internet, television and streaming services across cable, fiber and other network infrastructures.
The company’s broadband portfolio includes its CableOS platform, a software-based solution designed to support virtualized broadband access networks, along with technologies for DOCSIS, fiber and hybrid fiber-coaxial networks.
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