Harmonic (NASDAQ:HLIT) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Harmonic (NASDAQ:HLIT) in a report issued on Thursday,Benzinga reports. The brokerage currently has a $14.00 price target on the communications equipment provider’s stock.

HLIT has been the topic of a number of other reports. Barclays boosted their target price on shares of Harmonic from $8.00 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Harmonic in a research report on Thursday, January 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Harmonic in a research note on Tuesday, December 9th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Harmonic has an average rating of “Hold” and a consensus target price of $13.33.

Harmonic Stock Up 1.4%

Shares of HLIT opened at $10.15 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.08 and a quick ratio of 1.64. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 24.17 and a beta of 1.05. Harmonic has a 1 year low of $7.80 and a 1 year high of $11.49. The business’s 50 day simple moving average is $10.08 and its 200-day simple moving average is $9.86.

Insider Activity

In other news, SVP Neven Haltmayer sold 23,835 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $10.41, for a total value of $248,122.35. Following the completion of the sale, the senior vice president owned 149,570 shares in the company, valued at approximately $1,557,023.70. The trade was a 13.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David Krall purchased 47,528 shares of the stock in a transaction dated Thursday, December 11th. The stock was acquired at an average cost of $10.50 per share, with a total value of $499,044.00. Following the transaction, the director directly owned 223,125 shares in the company, valued at approximately $2,342,812.50. This trade represents a 27.07% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 1.21% of the company’s stock.

Institutional Trading of Harmonic

A number of hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Harmonic by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,664 shares of the communications equipment provider’s stock valued at $630,000 after acquiring an additional 2,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Harmonic by 9.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,538 shares of the communications equipment provider’s stock worth $3,390,000 after purchasing an additional 31,276 shares during the last quarter. Jane Street Group LLC boosted its position in Harmonic by 978.5% during the first quarter. Jane Street Group LLC now owns 247,480 shares of the communications equipment provider’s stock valued at $2,373,000 after purchasing an additional 224,534 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Harmonic in the second quarter valued at about $415,000. Finally, CWM LLC grew its stake in Harmonic by 277.7% in the second quarter. CWM LLC now owns 26,886 shares of the communications equipment provider’s stock valued at $255,000 after purchasing an additional 19,767 shares during the last quarter. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Harmonic Company Profile

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.