Harmonic (NASDAQ:HLIT) Receives Buy Rating from Rosenblatt Securities

Harmonic (NASDAQ:HLIT)‘s stock had its “buy” rating restated by research analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $14.00 price target on the communications equipment provider’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 31.21% from the stock’s previous close.

HLIT has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target (up from $12.00) on shares of Harmonic in a research note on Tuesday. Barclays lowered their target price on shares of Harmonic from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 29th. Wolfe Research began coverage on shares of Harmonic in a research report on Tuesday, July 8th. They set an “underperform” rating on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Harmonic in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Harmonic from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Three equities research 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 MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.38.

Harmonic Trading Down 0.3%

NASDAQ HLIT opened at $10.67 on Tuesday. Harmonic has a 1-year low of $7.80 and a 1-year high of $13.75. The company has a current ratio of 1.99, a quick ratio of 1.58 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.21 billion, a PE ratio of 18.09 and a beta of 1.01. The firm’s fifty day simple moving average is $10.15 and its 200-day simple moving average is $9.50.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Monday, November 3rd. The communications equipment provider reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The business had revenue of $142.38 million for the quarter, compared to the consensus estimate of $127.94 million. During the same period in the prior year, the business posted $0.26 earnings per share. Harmonic’s revenue for the quarter was down 27.3% compared to the same quarter last year. Harmonic has set its Q4 2025 guidance at 0.060-0.120 EPS. As a group, sell-side analysts anticipate that Harmonic will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmonic

A number of hedge funds have recently bought and sold shares of HLIT. Alyeska Investment Group L.P. boosted its holdings in Harmonic by 310.1% during the first quarter. Alyeska Investment Group L.P. now owns 3,077,776 shares of the communications equipment provider’s stock valued at $29,516,000 after acquiring an additional 2,327,272 shares during the period. Marshall Wace LLP boosted its holdings in Harmonic by 112.8% during the second quarter. Marshall Wace LLP now owns 1,925,149 shares of the communications equipment provider’s stock valued at $18,231,000 after acquiring an additional 1,020,431 shares during the period. Nuveen LLC bought a new stake in Harmonic during the first quarter valued at about $8,621,000. Hillsdale Investment Management Inc. bought a new stake in Harmonic during the second quarter valued at about $5,432,000. Finally, Lazard Asset Management LLC boosted its holdings in Harmonic by 249.1% during the second quarter. Lazard Asset Management LLC now owns 718,996 shares of the communications equipment provider’s stock valued at $6,808,000 after acquiring an additional 513,022 shares during the period. 99.38% of the stock is currently owned by institutional investors.

About Harmonic

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.