Harmonic (NASDAQ:HLIT) Receives “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Harmonic (NASDAQ:HLIT) in a research note issued to investors on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a $16.00 target price on the communications equipment provider’s stock.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group downgraded shares of Harmonic from a “buy” rating to a “hold” rating and dropped their price target for the company from $14.00 to $12.50 in a research note on Tuesday, October 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Harmonic in a report on Tuesday, October 29th. Barclays lowered Harmonic from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $17.00 to $14.00 in a research report on Thursday, January 9th. Northland Securities lowered their price objective on Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Finally, Raymond James lowered shares of Harmonic from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $17.00 to $14.00 in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Harmonic currently has an average rating of “Moderate Buy” and an average price target of $14.75.

Harmonic Stock Performance

NASDAQ:HLIT opened at $11.19 on Tuesday. The stock’s 50-day moving average is $12.73 and its 200-day moving average is $13.16. The stock has a market cap of $1.30 billion, a P/E ratio of 15.33 and a beta of 0.89. Harmonic has a 1-year low of $9.10 and a 1-year high of $15.46. The company has a current ratio of 2.08, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29.

Hedge Funds Weigh In On Harmonic

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in shares of Harmonic by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,675,268 shares of the communications equipment provider’s stock valued at $38,986,000 after acquiring an additional 17,665 shares in the last quarter. Wasatch Advisors LP grew its holdings in Harmonic by 15.3% in the third quarter. Wasatch Advisors LP now owns 1,659,823 shares of the communications equipment provider’s stock worth $24,184,000 after purchasing an additional 219,685 shares during the period. Point72 Asset Management L.P. increased its stake in Harmonic by 85.1% in the third quarter. Point72 Asset Management L.P. now owns 1,208,829 shares of the communications equipment provider’s stock valued at $17,613,000 after purchasing an additional 555,737 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Harmonic by 117.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,187,528 shares of the communications equipment provider’s stock valued at $17,302,000 after purchasing an additional 642,033 shares during the period. Finally, Systematic Financial Management LP boosted its position in shares of Harmonic by 12.0% during the 3rd quarter. Systematic Financial Management LP now owns 1,107,668 shares of the communications equipment provider’s stock worth $16,139,000 after purchasing an additional 118,377 shares in the last quarter. 99.38% of the stock is owned by institutional investors and hedge funds.

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.