Harmonic’s (HLIT) “Buy” Rating Reaffirmed at Rosenblatt Securities

Harmonic (NASDAQ:HLIT)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $14.00 price target on the communications equipment provider’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 35.79% from the company’s current price.

A number of other equities research analysts also recently weighed in on HLIT. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Harmonic in a research report on Wednesday, October 8th. Barclays lifted their target price on 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 set a $15.00 price target on shares of Harmonic in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $13.13.

Harmonic Stock Performance

HLIT stock opened at $10.31 on Tuesday. The stock’s 50 day simple moving average is $10.03 and its 200 day simple moving average is $9.59. Harmonic has a 12-month low of $7.80 and a 12-month high of $13.75. The firm has a market cap of $1.16 billion, a P/E ratio of 24.55 and a beta of 1.07. The company has a current ratio of 2.08, a quick ratio of 1.64 and a debt-to-equity ratio of 0.27.

Harmonic (NASDAQ:HLIT) last released its earnings results on Monday, November 3rd. The communications equipment provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.07. The firm had revenue of $142.38 million during the quarter, compared to analyst estimates of $127.94 million. Harmonic had a net margin of 7.81% and a return on equity of 13.70%. The firm’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same quarter in the previous 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, equities research analysts predict that Harmonic will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HLIT. Connors Investor Services Inc. bought a new stake in shares of Harmonic during the third quarter valued at about $240,000. CIBC Bancorp USA Inc. bought a new position in Harmonic in the 3rd quarter valued at about $122,000. Dark Forest Capital Management LP increased its stake in Harmonic by 82.7% during the 3rd quarter. Dark Forest Capital Management LP now owns 292,764 shares of the communications equipment provider’s stock valued at $2,980,000 after buying an additional 132,487 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Harmonic by 9.5% during the 3rd quarter. Alyeska Investment Group L.P. now owns 2,013,804 shares of the communications equipment provider’s stock worth $20,501,000 after buying an additional 174,203 shares in the last quarter. Finally, Clearline Capital LP lifted its stake in shares of Harmonic by 32.6% in the 3rd quarter. Clearline Capital LP now owns 795,076 shares of the communications equipment provider’s stock worth $8,094,000 after acquiring an additional 195,298 shares during the period. 99.38% of the stock is owned by institutional investors and hedge funds.

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.