Harmonic (NASDAQ:HLIT) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Harmonic (NASDAQ:HLIT) posted its earnings results on Wednesday. The communications equipment provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.07, FiscalAI reports. 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 7.84% and a negative net margin of 7.50%. Harmonic updated its Q3 2026 guidance to 0.150-0.190 EPS and its FY 2026 guidance to 0.670-0.750 EPS.

Harmonic Stock Up 4.8%

Shares of Harmonic stock traded up $0.55 on Wednesday, hitting $12.00. 2,796,201 shares of the company’s stock traded hands, compared to its average volume of 1,904,068. Harmonic has a 52-week low of $8.47 and a 52-week high of $17.68. The company has a quick ratio of 2.03, a current ratio of 2.27 and a debt-to-equity ratio of 0.31. The stock has a market cap of $1.30 billion, a P/E ratio of -32.43 and a beta of 1.32. The firm’s 50-day moving average is $13.39 and its 200 day moving average is $11.75.

Insider Activity

In related news, Director Stephanie Copeland sold 4,300 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $13.30, for a total value of $57,190.00. Following the sale, the director directly owned 20,752 shares of the company’s stock, valued at $276,001.60. This represents a 17.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.74% of the company’s stock.

Institutional Investors Weigh In On Harmonic

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC raised its stake in shares of Harmonic by 33.4% in the 4th quarter. Hsbc Holdings PLC now owns 30,266 shares of the communications equipment provider’s stock valued at $299,000 after purchasing an additional 7,583 shares in the last quarter. Invesco Ltd. grew its stake in Harmonic by 4.3% in the fourth quarter. Invesco Ltd. now owns 537,329 shares of the communications equipment provider’s stock worth $5,314,000 after purchasing an additional 22,253 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Harmonic in the fourth quarter valued at about $117,000. Summit Global Investments increased its holdings in Harmonic by 67.6% in the fourth quarter. Summit Global Investments now owns 86,740 shares of the communications equipment provider’s stock valued at $858,000 after buying an additional 34,980 shares during the last quarter. Finally, State of Tennessee Department of Treasury raised its stake in Harmonic by 43.9% during the fourth quarter. State of Tennessee Department of Treasury now owns 97,909 shares of the communications equipment provider’s stock valued at $952,000 after buying an additional 29,853 shares in the last quarter. Institutional investors own 99.38% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on HLIT. Barclays increased their price objective on shares of Harmonic from $11.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Jefferies Financial Group restated a “hold” rating and issued a $15.00 target price on shares of Harmonic in a research note on Tuesday, May 12th. Wall Street Zen lowered shares of Harmonic from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Zacks Research downgraded shares of Harmonic from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Harmonic from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.60.

Harmonic Company Profile

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.