Harmonic (NASDAQ:HLIT) Updates FY 2026 Earnings Guidance

Harmonic (NASDAQ:HLIT) updated its FY 2026 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.670-0.750 for the period, compared to the consensus earnings per share estimate of 0.400. The company issued revenue guidance of $505.0 million-$525.0 million, compared to the consensus revenue estimate of $486.8 million. Harmonic also updated its Q3 2026 guidance to 0.150-0.190 EPS.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HLIT shares. Needham & Company LLC lifted their price objective on Harmonic from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $15.00 target price on shares of Harmonic in a research report on Tuesday, May 12th. Northland Securities set a $15.00 price target on shares of Harmonic in a research note on Tuesday, May 12th. Barclays boosted their price target on shares of Harmonic from $11.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen cut shares of Harmonic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Harmonic presently has an average rating of “Hold” and a consensus target price of $16.60.

Harmonic Trading Up 4.8%

Shares of Harmonic stock opened at $12.00 on Thursday. The stock has a market capitalization of $1.30 billion, a P/E ratio of -32.43 and a beta of 1.32. The company has a quick ratio of 2.03, a current ratio of 2.27 and a debt-to-equity ratio of 0.31. The company has a 50-day simple moving average of $13.34 and a 200 day simple moving average of $11.76. Harmonic has a 12-month low of $8.47 and a 12-month high of $17.68.

Key Headlines Impacting Harmonic

Here are the key news stories impacting Harmonic this week:

• Positive Sentiment: Second-quarter results exceeded expectations. Harmonic reported adjusted earnings of $0.24 per share, ahead of the $0.17 consensus estimate and up from $0.09 a year earlier. Revenue reached $133.46 million, surpassing estimates of $120.89 million and increasing 53.5% year over year. Harmonic Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Full-year guidance was raised above analyst expectations. Harmonic now expects fiscal 2026 earnings per share of $0.67 to $0.75, versus the $0.40 consensus estimate, and revenue of $505 million to $525 million, compared with expectations of $486.8 million. Harmonic Q2 2026 Earnings Call Transcript
• Positive Sentiment: Third-quarter projections also exceeded consensus. Management forecasts EPS of $0.15 to $0.19 and revenue of $125 million to $135 million, above analyst estimates of $0.10 and $120.3 million, respectively.
• Neutral Sentiment: The stock’s technical position is mixed. HLIT’s quoted opening level was below its 50-day moving average of $13.34 but above its 200-day average of $11.76, suggesting near-term weakness has not fully overturned the longer-term recovery trend.
• Negative Sentiment: Harmonic delayed its quarterly filing. The company submitted a Form 12b-25 notification after the sale of a business, which may prompt investor caution until the filing is completed and the transaction’s accounting implications are clearer. Harmonic Delays Quarterly Filing After Business Sale

Institutional Trading of Harmonic

Hedge funds have recently modified their holdings of the company. iSAM Funds UK Ltd acquired a new position in shares of Harmonic in the 3rd quarter worth approximately $49,000. Royal Bank of Canada increased its holdings in Harmonic by 64.6% during the 4th quarter. Royal Bank of Canada now owns 7,645 shares of the communications equipment provider’s stock valued at $75,000 after purchasing an additional 3,000 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Harmonic during the 4th quarter valued at $90,000. Russell Investments Group Ltd. raised its position in Harmonic by 23,297.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 9,359 shares of the communications equipment provider’s stock valued at $95,000 after purchasing an additional 9,319 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Harmonic in the 4th quarter valued at $110,000. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Company Profile

Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic’s product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.