Harmonic Analysts Slash Their Forecasts After Q2 Earnings

Harmonic Inc. (NASDAQ:HLIT) posted better-than-expected second-quarter earnings, but issued third-quarter guidance below estimates on Monday.

Harmonic reported quarterly earnings of 9 cents per share which beat the analyst consensus estimate of 3 cents per share. The company reported quarterly sales of $138.027 million which beat the analyst consensus estimate of $128.728 million.

Harmonic said it sees third-quarter adjusted EPS of 2 cents to 7 cents, versus market estimates of 14 cents. The company sees sales of $120.000 million to $135.000 million versus expectations of $154.258 million.

“Our team delivered strong second quarter results with revenue and profitability in both our Video and Broadband businesses exceeding the high end of our guidance,” said Nimrod Ben-Natan, president and chief executive officer of Harmonic. “We are seeing further momentum in Video and while we expect Broadband upgrade activity to persist at a moderate pace in 2025, we are beginning to see positive indicators, with improving customer ramp readiness and progress on Unified DOCSIS 4.0, which we expect will turn into tailwinds for us in 2026.”

Harmonic shares fell 8% to trade at $8.41 on Tuesday.

These analysts made changes to their price targets on Harmonic following earnings announcement.

• Needham analyst Ryan Koontz maintained Harmonic with a Buy and lowered the price target from $14 to $12.
• Barclays analyst Tim Long maintained the stock with an Equal-Weight rating and cut the price target from $10 to $8.
• Rosenblatt analyst Steve Frankel maintained Harmonic with a Buy and maintained a price target of $11.

Considering buying HLIT stock? Here’s what analysts think:

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