Harmonic Inc. (NASDAQ:HLIT) Receives $15.25 Consensus Target Price from Analysts

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

HLIT has been the subject of a number of research reports. Rosenblatt Securities lowered their target price on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Northland Securities dropped their target price on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Harmonic in a research note on Tuesday, October 29th. Raymond James cut shares of Harmonic from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $17.00 to $14.00 in a research report on Tuesday, October 29th. Finally, Barclays decreased their price objective on Harmonic from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HLIT. CWM LLC increased its holdings in Harmonic by 780.9% in the second quarter. CWM LLC now owns 2,255 shares of the communications equipment provider’s stock valued at $27,000 after purchasing an additional 1,999 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Harmonic by 117.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock valued at $36,000 after acquiring an additional 1,323 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Harmonic in the 2nd quarter valued at approximately $47,000. SageView Advisory Group LLC bought a new position in Harmonic during the 1st quarter worth approximately $114,000. Finally, Verdence Capital Advisors LLC acquired a new position in Harmonic during the second quarter valued at approximately $140,000. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Trading Up 0.3 %

Shares of HLIT stock opened at $11.95 on Thursday. The company has a quick ratio of 1.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1.39 billion, a P/E ratio of 16.37 and a beta of 0.89. Harmonic has a 12-month low of $9.10 and a 12-month high of $15.46. The firm has a 50-day moving average price of $13.40 and a 200 day moving average price of $12.76.

Harmonic (NASDAQ:HLIT) last announced its earnings results 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. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The business had revenue of $195.80 million for the quarter, compared to the consensus estimate of $181.77 million. During the same period in the previous year, the business earned ($0.05) EPS. Harmonic’s revenue was up 53.9% compared to the same quarter last year. Research analysts forecast that Harmonic will post 0.52 earnings per share for the current fiscal year.

Harmonic Company Profile

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.