Harmonic (NASDAQ:HLIT) Sets New 12-Month Low – What’s Next?

04 Apr 2025, 16:34 by Amy Steele · The Cerbat Gem

Harmonic Inc. (NASDAQ:HLIT – Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $8.15 and last traded at $8.30, with a volume of 363179 shares changing hands. The stock had previously closed at $8.81.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Harmonic from a “hold” rating to a “buy” rating in a research report on Thursday, March 27th. Jefferies Financial Group started coverage on Harmonic in a research note on Friday, February 21st. They issued a “hold” rating on the stock. Northland Securities decreased their price objective on Harmonic from $14.00 to $12.50 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Barclays dropped their target price on shares of Harmonic from $14.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Finally, Rosenblatt Securities decreased their price target on shares of Harmonic from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Harmonic presently has an average rating of “Moderate Buy” and an average price target of $12.50.

Get Our Latest Report on HLIT

Harmonic Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.80 and a current ratio of 2.18. The firm’s 50-day moving average price is $10.42 and its two-hundred day moving average price is $12.18. The stock has a market cap of $975.05 million, a price-to-earnings ratio of 25.24 and a beta of 0.87.

Harmonic (NASDAQ:HLIT – Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The communications equipment provider reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. Harmonic had a net margin of 5.78% and a return on equity of 15.90%. On average, analysts expect that Harmonic Inc. will post 0.31 EPS for the current fiscal year.

Harmonic declared that its board has authorized a share repurchase program on Monday, February 10th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the communications equipment provider to purchase up to 15.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Daniel T. Whalen purchased 3,000 shares of the company’s stock in a transaction on Monday, February 24th. The stock was acquired at an average cost of $10.15 per share, for a total transaction of $30,450.00. Following the completion of the transaction, the director now directly owns 8,840 shares in the company, valued at approximately $89,726. The trade was a 51.37 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Walter Jankovic acquired 12,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was bought at an average price of $9.44 per share, for a total transaction of $113,280.00. Following the completion of the acquisition, the chief financial officer now owns 46,129 shares in the company, valued at approximately $435,457.76. The trade was a 35.16 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 32,780 shares of company stock valued at $316,607. 2.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Harmonic

A number of institutional investors have recently modified their holdings of HLIT. Handelsbanken Fonder AB boosted its holdings in Harmonic by 2.6% during the 4th quarter. Handelsbanken Fonder AB now owns 36,100 shares of the communications equipment provider’s stock valued at $478,000 after acquiring an additional 900 shares during the period. Barclays PLC lifted its position in shares of Harmonic by 0.7% during the fourth quarter. Barclays PLC now owns 203,300 shares of the communications equipment provider’s stock worth $2,690,000 after purchasing an additional 1,324 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Harmonic by 14.9% in the third quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider’s stock valued at $185,000 after purchasing an additional 1,647 shares during the period. Inspire Investing LLC boosted its stake in shares of Harmonic by 6.9% in the fourth quarter. Inspire Investing LLC now owns 30,154 shares of the communications equipment provider’s stock valued at $399,000 after purchasing an additional 1,944 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Harmonic by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,811 shares of the communications equipment provider’s stock valued at $831,000 after purchasing an additional 2,146 shares in the last quarter. 99.38% of the stock is owned by institutional investors and hedge funds.

Harmonic Company Profile

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