Analysts Set Harmonic Inc. (NASDAQ:HLIT) PT at $15.25

Shares of Harmonic Inc. (NASDAQ:HLIT) have been given an average rating of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $15.25.

HLIT has been the topic of several research analyst reports. Barclays dropped their price objective on Harmonic from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Raymond James cut Harmonic from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $17.00 to $14.00 in a research report on Tuesday, October 29th. Jefferies Financial Group downgraded Harmonic from a “buy” rating to a “hold” rating and cut their price target for the stock from $14.00 to $12.50 in a research note on Tuesday, October 29th. Needham & Company LLC restated a “buy” rating and issued a $18.00 price objective on shares of Harmonic in a research note on Tuesday, October 29th. Finally, Northland Securities cut their target price on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th.

Institutional Trading of Harmonic

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Harmonic by 117.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 1,323 shares in the last quarter. Dark Forest Capital Management LP boosted its position in shares of Harmonic by 7.2% in the second quarter. Dark Forest Capital Management LP now owns 20,192 shares of the communications equipment provider’s stock valued at $238,000 after acquiring an additional 1,362 shares during the period. Rhumbline Advisers grew its stake in Harmonic by 0.4% during the second quarter. Rhumbline Advisers now owns 320,516 shares of the communications equipment provider’s stock valued at $3,772,000 after acquiring an additional 1,382 shares in the last quarter. Captrust Financial Advisors increased its holdings in Harmonic by 14.9% during the 3rd quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider’s stock worth $185,000 after acquiring an additional 1,647 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Harmonic by 6.0% in the 3rd quarter. Franklin Resources Inc. now owns 39,041 shares of the communications equipment provider’s stock worth $538,000 after purchasing an additional 2,207 shares in the last quarter. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Harmonic Trading Down 1.9 %

NASDAQ HLIT opened at $13.24 on Friday. The business’s fifty day moving average is $12.70 and its 200-day moving average is $13.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.62. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 18.14 and a beta of 0.91. Harmonic has a one year low of $9.10 and a one year high of $15.46.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.17 by $0.09. The business had revenue of $195.80 million for the quarter, compared to analyst estimates of $181.77 million. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The company’s revenue for the quarter was up 53.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Equities research analysts predict that Harmonic will post 0.52 EPS for the current year.

About Harmonic

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.