Harmonic (NASDAQ:HLIT) Hits New 12-Month High – Should You Buy?

Harmonic Inc. (NASDAQ:HLIT) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $12.33 and last traded at $12.1790, with a volume of 780104 shares. The stock had previously closed at $11.89.

Analysts Set New Price Targets

Several brokerages have recently commented on HLIT. Weiss Ratings lowered Harmonic from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, March 6th. Needham & Company LLC lifted their target price on Harmonic from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Northland Securities set a $14.00 target price on Harmonic in a research report on Friday, February 20th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $16.00 target price on shares of Harmonic in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Harmonic currently has a consensus rating of “Hold” and a consensus price target of $14.50.

Harmonic Stock Up 2.4%

The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -31.23 and a beta of 1.24. 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 stock has a 50-day moving average of $9.89 and a 200-day moving average of $10.00.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings data 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 negative net margin of 7.59% and a positive return on equity of 5.91%. The company had revenue of ($53.02) million for the quarter, compared to analyst estimates of $140.98 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The company’s revenue for the quarter was down 42.6% compared to the same quarter last year. Harmonic has set its FY 2026 guidance at 0.460-0.630 EPS and its Q1 2026 guidance at 0.110-0.120 EPS. As a group, sell-side analysts forecast that Harmonic Inc. will post 0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Harmonic by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 12,022,963 shares of the communications equipment provider’s stock valued at $118,907,000 after purchasing an additional 148,281 shares during the period. State Street Corp boosted its position in Harmonic by 1.8% during the 4th quarter. State Street Corp now owns 4,471,187 shares of the communications equipment provider’s stock valued at $44,220,000 after purchasing an additional 80,791 shares during the period. Dimensional Fund Advisors LP boosted its position in Harmonic by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,485,105 shares of the communications equipment provider’s stock valued at $34,468,000 after purchasing an additional 24,062 shares during the period. Alliancebernstein L.P. raised its stake in Harmonic by 2.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,406,945 shares of the communications equipment provider’s stock valued at $24,503,000 after acquiring an additional 68,921 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Harmonic by 10.8% during the 3rd quarter. Marshall Wace LLP now owns 2,132,625 shares of the communications equipment provider’s stock valued at $21,710,000 after acquiring an additional 207,476 shares in the last quarter. Institutional investors and hedge funds 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.