Harmonic Inc. (NASDAQ:HLIT) Stock Has Consensus Target Price of $17.50

Harmonic Inc. (NASDAQ:HLIT) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $17.50.

Several equities analysts have issued reports on the stock. Zacks Research downgraded shares of Harmonic from a “strong-buy” rating to a “hold” rating in a report on Friday, July 24th. Needham & Company LLC reissued a “buy” rating on shares of Harmonic in a research note on Thursday, August 13th. Weiss Ratings downgraded shares of Harmonic from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. Barclays raised their price target on shares of Harmonic from $15.00 to $16.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $19.00 price objective on shares of Harmonic in a report on Thursday, August 13th.

Harmonic Stock Up 0.6%

Harmonic stock opened at $11.01 on Friday. The stock has a market capitalization of $1.20 billion, a PE ratio of -26.21 and a beta of 1.32. Harmonic has a 12 month low of $8.47 and a 12 month high of $17.68. The business has a 50 day simple moving average of $11.82 and a 200-day simple moving average of $12.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.56.

Harmonic (NASDAQ:HLIT) last announced its earnings results on Wednesday, August 12th. The communications equipment provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.07. Harmonic had a positive return on equity of 10.91% and a negative net margin of 8.50%.The business had revenue of $133.46 million during the quarter, compared to the consensus estimate of $120.89 million. During the same period in the prior year, the company posted $0.09 EPS. The business’s quarterly revenue was up 53.5% on a year-over-year basis. Harmonic has set its Q3 2026 guidance at 0.150-0.190 EPS and its FY 2026 guidance at 0.670-0.750 EPS. On average, analysts anticipate that Harmonic will post 0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Harmonic

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP increased its position in shares of Harmonic by 59.6% during the second quarter. Engineers Gate Manager LP now owns 76,479 shares of the communications equipment provider’s stock worth $1,249,000 after purchasing an additional 28,545 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Harmonic in the 2nd quarter valued at $47,000. Squarepoint Ops LLC lifted its stake in Harmonic by 486.9% in the 2nd quarter. Squarepoint Ops LLC now owns 344,782 shares of the communications equipment provider’s stock worth $5,630,000 after purchasing an additional 286,038 shares in the last quarter. Nykredit A S acquired a new position in shares of Harmonic during the 2nd quarter worth approximately $36,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of Harmonic during the 2nd quarter worth approximately $4,090,000. Hedge funds and other institutional investors own 99.38% of the company’s stock.

About Harmonic

Harmonic Inc (NASDAQ: HLIT) develops broadband access and video delivery solutions for communications and media companies. Its broadband portfolio includes the CableOS platform, which supports virtualized and software-based cable access networks, along with technologies for fiber, hybrid fiber-coaxial and distributed access architectures. These solutions are designed to help service providers expand network capacity, improve operating flexibility and deliver high-speed broadband services.

Harmonic also provides video infrastructure and software for broadcasters, streaming providers, pay-TV operators and other media organizations.