Harmonic Inc. (NASDAQ:HLIT) Receives Average Rating of “Buy” from Analysts

Harmonic Inc. (NASDAQ:HLITGet Free Report) has received an average rating of “Buy” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $17.20.

HLIT has been the topic of a number of recent research reports. TheStreet raised shares of Harmonic from a “c” rating to a “b” rating in a research report on Monday, January 29th. Barclays dropped their target price on Harmonic from $20.00 to $14.00 and set an “overweight” rating on the stock in a report on Wednesday, November 1st. Rosenblatt Securities lowered their price target on Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. StockNews.com raised Harmonic from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Raymond James reduced their price objective on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a research report on Tuesday, January 30th.

Check Out Our Latest Stock Report on HLIT

Hedge Funds Weigh In On Harmonic

Several institutional investors and hedge funds have recently modified their holdings of HLIT. Citigroup Inc. raised its stake in shares of Harmonic by 9.8% during the 1st quarter. Citigroup Inc. now owns 98,410 shares of the communications equipment provider’s stock worth $915,000 after purchasing an additional 8,751 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Harmonic by 11.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 17,132 shares of the communications equipment provider’s stock valued at $160,000 after acquiring an additional 1,710 shares during the period. MetLife Investment Management LLC raised its stake in Harmonic by 41.4% in the 1st quarter. MetLife Investment Management LLC now owns 44,310 shares of the communications equipment provider’s stock valued at $412,000 after acquiring an additional 12,980 shares during the period. Rhumbline Advisers raised its stake in Harmonic by 2.7% in the 1st quarter. Rhumbline Advisers now owns 265,630 shares of the communications equipment provider’s stock valued at $2,468,000 after acquiring an additional 6,932 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Harmonic by 14.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 88,761 shares of the communications equipment provider’s stock valued at $825,000 after acquiring an additional 11,240 shares during the period. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Harmonic Stock Performance

Shares of NASDAQ HLIT opened at $14.04 on Tuesday. The company has a market cap of $1.58 billion, a PE ratio of 19.77 and a beta of 0.82. Harmonic has a 12 month low of $8.80 and a 12 month high of $18.43. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 0.91. The company has a 50-day simple moving average of $11.99 and a 200-day simple moving average of $10.98.

Harmonic (NASDAQ:HLITGet Free Report) last released its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. The firm had revenue of $167.10 million during the quarter, compared to the consensus estimate of $158.98 million. During the same period in the previous year, the firm earned $0.12 earnings per share. Harmonic’s revenue was up 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Harmonic will post 0.35 earnings per share for the current year.

About Harmonic

(Get Free Report

Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Broadband. The Video segment sells video processing, production, and playout solutions and services to broadband operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies.

Further Reading

Analyst Recommendations for Harmonic (NASDAQ:HLIT)

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