Harmonic (NASDAQ:HLIT) Price Target Raised to $14.00 at Rosenblatt Securities

Harmonic (NASDAQ:HLIT) had its price objective raised by Rosenblatt Securities from $11.00 to $14.00 in a report issued on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the communications equipment provider’s stock.

HLIT has been the topic of several other research reports. Barclays lowered their target price on Harmonic from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 29th. Needham & Company LLC lowered their price objective on shares of Harmonic from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, July 29th. Wolfe Research began coverage on shares of Harmonic in a research report on Tuesday, July 8th. They set an “underperform” rating for the company. Finally, Wall Street Zen downgraded shares of Harmonic from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $12.17.

Harmonic Stock Up 4.1%

HLIT stock opened at $10.60 on Wednesday. The company has a current ratio of 1.99, a quick ratio of 1.58 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $9.46 and its 200 day moving average price is $9.34. Harmonic has a 52 week low of $7.80 and a 52 week high of $15.46. The company has a market cap of $1.21 billion, a P/E ratio of 17.97 and a beta of 1.01.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Monday, July 28th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. The company had revenue of $138.03 million during the quarter, compared to the consensus estimate of $134.90 million. Harmonic had a net margin of 9.96% and a return on equity of 17.83%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.08 EPS. Harmonic has set its Q3 2025 guidance at 0.020-0.070 EPS. On average, research analysts expect that Harmonic will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of Harmonic

A number of hedge funds have recently bought and sold shares of the company. Alyeska Investment Group L.P. raised its holdings in Harmonic by 310.1% in the 1st quarter. Alyeska Investment Group L.P. now owns 3,077,776 shares of the communications equipment provider’s stock valued at $29,516,000 after acquiring an additional 2,327,272 shares during the last quarter. Marshall Wace LLP grew its position in shares of Harmonic by 112.8% in the second quarter. Marshall Wace LLP now owns 1,925,149 shares of the communications equipment provider’s stock valued at $18,231,000 after purchasing an additional 1,020,431 shares during the period. Nuveen LLC acquired a new position in Harmonic in the first quarter valued at $8,621,000. Hillsdale Investment Management Inc. purchased a new position in Harmonic during the second quarter worth about $5,432,000. Finally, Lazard Asset Management LLC boosted its stake in Harmonic by 249.1% in the 2nd quarter. Lazard Asset Management LLC now owns 718,996 shares of the communications equipment provider’s stock worth $6,808,000 after buying an additional 513,022 shares during the last quarter. Institutional investors and hedge funds 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.