Harmonic (NASDAQ:HLIT) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Harmonic (NASDAQ:HLIT) in a report released on Tuesday,Benzinga reports. The brokerage currently has a $15.00 price target on the communications equipment provider’s stock.

Several other equities research analysts also recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Harmonic in a research note on Wednesday, October 8th. Rosenblatt Securities restated a “buy” rating and set a $14.00 price objective on shares of Harmonic in a research note on Tuesday, November 4th. Finally, Barclays upped their price objective on shares of Harmonic from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Three equities 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 data from MarketBeat, Harmonic currently has an average rating of “Hold” and a consensus price target of $13.13.

Harmonic Price Performance

Shares of HLIT stock opened at $10.45 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.08 and a quick ratio of 1.64. The company has a market capitalization of $1.17 billion, a P/E ratio of 24.88 and a beta of 1.06. The company’s 50-day simple moving average is $10.03 and its two-hundred day simple moving average is $9.60. Harmonic has a one year low of $7.80 and a one year high of $13.75.

Harmonic (NASDAQ:HLIT) last posted its quarterly 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. The business 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 company’s quarterly revenue was down 27.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 EPS. Harmonic has set its Q4 2025 guidance at 0.060-0.120 EPS. As a group, equities analysts anticipate that Harmonic will post 0.31 EPS for the current year.

Institutional Investors Weigh In On Harmonic

Several large investors have recently added to or reduced their stakes in HLIT. iSAM Funds UK Ltd acquired a new stake in Harmonic in the 3rd quarter valued at about $49,000. McIlrath & Eck LLC purchased a new stake in shares of Harmonic in the 3rd quarter valued at about $57,000. Russell Investments Group Ltd. boosted its holdings in shares of Harmonic by 23,297.5% in the third 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 period. Franklin Resources Inc. acquired a new position in Harmonic in the third quarter valued at $115,000. Finally, Magnetar Financial LLC acquired a new position in Harmonic in the 3rd quarter valued at about $119,000. 99.38% of the stock is owned by hedge funds and other institutional investors.

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.