New York, May 24, 2026, 16:04 (EDT)
Harmonic Inc. (HLIT) jumped 19.7% Friday, finishing at $15.20 after a big surge late in the week. The broadband-equipment maker moved on 12.8 million shares traded. Shares had closed at $12.70 Thursday and touched $15.26 Friday. Markets were preparing to pause for a long weekend.
Nasdaq shut for Memorial Day on Monday, May 25, so the next open is Tuesday. That’s the first shot to see if the rally keeps up after a thin holiday break. Usual Nasdaq hours are 9:30 a.m. to 4:00 p.m. Eastern, Monday through Friday, unless it’s a holiday.
Harmonic got a boost in its broadband unit after posting first-quarter results earlier this month. The company reported broadband revenue up 43% from a year ago, with “Rest-of-Market” revenue—customers outside its biggest programs—jumping 78%. CEO Nimrod Ben-Natan said it was a “strong start to the year” and raised the 2026 broadband revenue forecast to $475 million to $495 million. SEC
Harmonic is trading less as a mixed video and broadband name and more as a broadband infrastructure play now. Backlog and deferred revenue jumped 87% from a year ago to $582.1 million. The company said its cOS platform is live with 150 customers and supports 45.7 million cable modems.
Harmonic is pushing to complete its move out of video. In a March filing, the company said its agreement to sell the Video business could be terminated if closing conditions are not met by June 8, with a possible extension to Sept. 8. Harmonic expects the deal to close in the second quarter.
Broker calls shifted after the earnings print. On May 12, Steve Frankel at Rosenblatt held his strong-buy rating and bumped his price target to $20 from $16, according to StockAnalysis. Ryan Koontz at Needham also kept a strong-buy and moved his target up to $18 from $17. Tim Long at Barclays stayed with hold, raising his target to $15, up from $11. Jefferies’ Blayne Curtis kept his hold call, moving his target to $15 from $10, after labeling the quarter a “strong Q1 print.” StockAnalysis
S&P 500 gained 0.37% on Friday and the Nasdaq added 0.19%. But Harmonic jumped 19.69%, Investing.com market data show. The tape was higher but didn’t explain Harmonic’s move.
Competition is tight. Harmonic lists Comcast and Charter as key customers for its virtual CMTS software — the system cable operators use to run internet traffic. CommScope and Vecima are active in the same space and have chased deals, too. So the timing of ramps, which companies win contracts, and cable-operator spending will shape where the trade goes next.
But the rally now leaves Harmonic with less margin for any slip. Walter Jankovic, Harmonic’s CFO, told analysts the company expects “a net impact of about $6 million related to memory” in the second half, and said switch and server supply tied to cOS was tighter for some buyers. If video deals slow, cable or telco capex drops, tariff costs bite, or pricing gets tougher, the broadband story could swing back into volatility. MarketScreener
Traders look to see if Friday’s big-volume finish sticks after the holiday, and if management hints at the Video divestiture before the June 8 deadline. A smooth sale timeline could keep investor attention on broadband orders, margins and customer diversification.
