Rosenblatt Securities Reiterates Buy Rating for Harmonic (NASDAQ:HLIT)

by · The Markets Daily

Harmonic (NASDAQ:HLIT – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities researchers at Rosenblatt Securities in a research report issued on Monday,Benzinga reports. They presently have a $20.00 target price on the communications equipment provider’s stock. Rosenblatt Securities’ target price indicates a potential upside of 33.96% from the company’s current price.

Other analysts have also recently issued reports about the stock. Needham & Company LLC raised their target price on shares of Harmonic from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Jefferies Financial Group restated a “hold” rating and set a $15.00 target price on shares of Harmonic in a report on Tuesday, May 12th. Northland Securities set a $15.00 target price on shares of Harmonic in a report on Tuesday, May 12th. Barclays raised their price objective on shares of Harmonic from $11.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Harmonic in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.60.

View Our Latest Stock Report on HLIT

Harmonic Price Performance

NASDAQ HLIT opened at $14.93 on Monday. Harmonic has a 12 month low of $7.80 and a 12 month high of $17.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.27 and a quick ratio of 2.03. The firm has a market capitalization of $1.62 billion, a PE ratio of -40.35 and a beta of 1.32. The company’s 50 day simple moving average is $12.34 and its 200 day simple moving average is $10.79.

Insiders Place Their Bets

In other Harmonic news, Director Stephanie Copeland sold 4,300 shares of Harmonic stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $13.30, for a total transaction of $57,190.00. Following the completion of the sale, the director owned 20,752 shares of the company’s stock, valued at $276,001.60. This trade represents a 17.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Neven Haltmayer sold 31,766 shares of Harmonic stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $13.24, for a total transaction of $420,581.84. Following the sale, the senior vice president directly owned 133,924 shares of the company’s stock, valued at $1,773,153.76. This trade represents a 19.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.74% of the company’s stock.

Institutional Investors Weigh In On Harmonic

Several institutional investors and hedge funds have recently modified their holdings of the business. Amundi lifted its stake in shares of Harmonic by 68.5% in the 1st quarter. Amundi now owns 52,167 shares of the communications equipment provider’s stock valued at $468,000 after purchasing an additional 21,205 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Harmonic by 16.9% in the 1st quarter. California State Teachers Retirement System now owns 126,667 shares of the communications equipment provider’s stock valued at $1,137,000 after purchasing an additional 18,318 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Harmonic by 17.7% in the 1st quarter. Quantinno Capital Management LP now owns 32,605 shares of the communications equipment provider’s stock valued at $293,000 after purchasing an additional 4,910 shares during the last quarter. Gateway Wealth Partners LLC acquired a new stake in shares of Harmonic in the 1st quarter valued at $90,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Harmonic by 120.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,052,927 shares of the communications equipment provider’s stock valued at $9,455,000 after purchasing an additional 575,800 shares during the last quarter. Institutional investors and hedge funds own 99.38% of the company’s stock.

About Harmonic

(Get Free Report)

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.

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