Harmonic Inc. (NASDAQ:HLIT – Free Report) – Investment analysts at Northland Capmk dropped their Q4 2024 earnings estimates for shares of Harmonic in a research note issued to investors on Tuesday, October 29th. Northland Capmk analyst T. Savageaux now anticipates that the communications equipment provider will post earnings per share of $0.29 for the quarter, down from their previous forecast of $0.31. The consensus estimate for Harmonic’s current full-year earnings is $0.49 per share. Northland Capmk also issued estimates for Harmonic’s Q3 2025 earnings at $0.16 EPS and Q4 2025 earnings at $0.21 EPS.
Several other research firms also recently commented on HLIT. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Harmonic in a report on Tuesday. Northland Securities cut their price target on Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday. Rosenblatt Securities decreased their price objective on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday. Barclays lowered their target price on Harmonic from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Jefferies Financial Group cut Harmonic from a “buy” rating to a “hold” rating and reduced their price target for the company from $14.00 to $12.50 in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.25.
Harmonic Price Performance
Shares of NASDAQ HLIT opened at $10.96 on Thursday. Harmonic has a 52 week low of $9.10 and a 52 week high of $15.46. The business’s 50 day moving average price is $13.90 and its 200 day moving average price is $12.56. The company has a quick ratio of 1.32, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The firm has a market cap of $1.27 billion, a P/E ratio of 15.01 and a beta of 0.87.
Harmonic (NASDAQ:HLIT – Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. The firm had revenue of $195.80 million for the quarter, compared to analyst estimates of $181.77 million. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The business’s quarterly revenue was up 53.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share.
Hedge Funds Weigh In On Harmonic
A number of large investors have recently added to or reduced their stakes in HLIT. Vanguard Group Inc. increased its stake in shares of Harmonic by 1.7% during the first quarter. Vanguard Group Inc. now owns 9,852,064 shares of the communications equipment provider’s stock worth $132,412,000 after purchasing an additional 166,018 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Harmonic by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,741,998 shares of the communications equipment provider’s stock valued at $44,043,000 after acquiring an additional 294,922 shares during the last quarter. Leeward Investments LLC MA raised its holdings in shares of Harmonic by 5.6% during the second quarter. Leeward Investments LLC MA now owns 1,975,966 shares of the communications equipment provider’s stock valued at $23,257,000 after acquiring an additional 105,162 shares during the last quarter. Clearline Capital LP boosted its stake in shares of Harmonic by 777.6% in the second quarter. Clearline Capital LP now owns 1,570,461 shares of the communications equipment provider’s stock worth $18,484,000 after acquiring an additional 1,391,504 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Harmonic by 1,276.3% during the first quarter. Jane Street Group LLC now owns 1,203,297 shares of the communications equipment provider’s stock worth $16,172,000 after purchasing an additional 1,115,870 shares in the last quarter. 99.38% of the stock is currently owned by institutional investors and hedge funds.
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.
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