Needham & Company LLC Reaffirms Buy Rating for Harmonic (NASDAQ:HLIT)

Harmonic (NASDAQ:HLIT)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $15.00 target price on the communications equipment provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 41.11% from the stock’s current price.

A number of other research analysts have also weighed in on HLIT. Rosenblatt Securities reaffirmed a “buy” rating and issued a $14.00 price target on shares of Harmonic in a research note on Tuesday, November 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Harmonic in a report on Wednesday, October 8th. Finally, Barclays boosted their price objective on shares of Harmonic from $8.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Three 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.13.

Harmonic Stock Up 1.7%

NASDAQ:HLIT opened at $10.63 on Tuesday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 25.31 and a beta of 1.06. Harmonic has a 12-month low of $7.80 and a 12-month high of $13.75. The stock’s fifty day simple moving average is $10.03 and its 200-day simple moving average is $9.61. The company has a quick ratio of 1.64, a current ratio of 2.08 and a debt-to-equity ratio of 0.27.

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

Institutional Investors Weigh In On Harmonic

Several large investors have recently made changes to their positions in the stock. iSAM Funds UK Ltd bought a new position in shares of Harmonic in the third quarter valued at $49,000. McIlrath & Eck LLC bought a new position in shares of Harmonic in the 3rd quarter valued at about $57,000. Russell Investments Group Ltd. increased its stake in shares of Harmonic by 23,297.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 9,359 shares of the communications equipment provider’s stock worth $95,000 after purchasing an additional 9,319 shares during the last quarter. Cresset Asset Management LLC raised 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 purchasing an additional 1,660 shares during the period. Finally, Significant Wealth Partners LLC bought a new stake in shares of Harmonic in the 2nd quarter valued at about $112,000. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Company Profile

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.