Harmonic Inc. (NASDAQ:HLIT) Given Average Recommendation of “Moderate Buy” by Brokerages

by · The Markets Daily

Harmonic Inc. (NASDAQ:HLIT – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $12.33.

HLIT has been the topic of several recent analyst reports. Barclays restated an “underperform” rating on shares of Harmonic in a research note on Tuesday, April 29th. Needham & Company LLC restated a “buy” rating and issued a $14.00 target price on shares of Harmonic in a research note on Tuesday, April 29th. Wall Street Zen upgraded shares of Harmonic from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 6th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $11.00 target price on shares of Harmonic in a research note on Tuesday, June 17th.

Get Our Latest Stock Report on HLIT

Harmonic Stock Up 3.7%

Shares of HLIT stock opened at $9.82 on Friday. The stock has a market cap of $1.11 billion, a P/E ratio of 21.82 and a beta of 1.05. Harmonic has a one year low of $7.91 and a one year high of $15.46. The stock has a fifty day moving average price of $9.21 and a 200 day moving average price of $10.34. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.06 and a quick ratio of 1.69.

Harmonic (NASDAQ:HLIT – Get Free Report) last issued its earnings results on Monday, April 28th. The communications equipment provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06. The firm had revenue of $133.14 million during the quarter, compared to analysts’ expectations of $127.51 million. Harmonic had a return on equity of 18.28% and a net margin of 7.72%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts predict that Harmonic will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HLIT. Quarry LP bought a new stake in Harmonic during the 4th quarter worth about $33,000. CWM LLC raised its holdings in Harmonic by 132.6% during the 1st quarter. CWM LLC now owns 7,119 shares of the communications equipment provider’s stock worth $68,000 after purchasing an additional 4,058 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Harmonic by 5,388.1% during the 4th quarter. Russell Investments Group Ltd. now owns 5,543 shares of the communications equipment provider’s stock worth $73,000 after purchasing an additional 5,442 shares during the last quarter. AlphaQuest LLC raised its holdings in Harmonic by 14,765.9% during the 4th quarter. AlphaQuest LLC now owns 6,095 shares of the communications equipment provider’s stock worth $81,000 after purchasing an additional 6,054 shares during the last quarter. Finally, Drive Wealth Management LLC bought a new stake in Harmonic during the 1st quarter worth about $111,000. 99.38% of the stock is owned by institutional investors.

About Harmonic

(Get Free Report

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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