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

Harmonic (NASDAQ:HLIT)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a research report issued on Tuesday,Benzinga reports. They currently have a $14.00 target price on the communications equipment provider’s stock. Rosenblatt Securities’ price objective points to a potential upside of 31.70% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Harmonic in a research note on Wednesday, October 8th. Barclays boosted their target price on shares of Harmonic from $8.00 to $11.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Harmonic in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.13.

Harmonic Stock Performance

Shares of NASDAQ HLIT opened at $10.63 on Tuesday. Harmonic has a 52-week low of $7.80 and a 52-week high of $13.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.64 and a current ratio of 2.08. The firm’s fifty day moving average is $10.03 and its two-hundred day moving average is $9.61. The company has a market cap of $1.19 billion, a P/E ratio of 25.31 and a beta of 1.06.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings results on Monday, November 3rd. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.07. The company had revenue of $142.38 million for the quarter, compared to the consensus estimate of $127.94 million. Harmonic had a net margin of 7.81% and a return on equity of 13.70%. Harmonic’s revenue was down 27.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Harmonic has set its Q4 2025 guidance at 0.060-0.120 EPS. As a group, analysts anticipate that Harmonic will post 0.31 EPS for the current fiscal year.

Institutional Trading of Harmonic

A number of large investors have recently modified their holdings of the stock. iSAM Funds UK Ltd acquired a new stake in Harmonic in the third quarter valued at $49,000. McIlrath & Eck LLC acquired a new position in shares of Harmonic during the 3rd quarter worth about $57,000. Russell Investments Group Ltd. increased its holdings in shares of Harmonic by 23,297.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,359 shares of the communications equipment provider’s stock valued at $95,000 after acquiring an additional 9,319 shares during the last quarter. Cresset Asset Management LLC increased its holdings in shares of Harmonic by 16.5% in the 1st quarter. Cresset Asset Management LLC now owns 11,721 shares of the communications equipment provider’s stock valued at $112,000 after acquiring an additional 1,660 shares during the last quarter. Finally, Significant Wealth Partners LLC acquired a new stake in shares of Harmonic during the 2nd quarter worth about $112,000. Hedge funds and other institutional investors own 99.38% of the company’s stock.

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.