Harmonic Inc. (NASDAQ:HLIT) Given Consensus Rating of "Moderate Buy" by Analysts

Harmonic Inc. (NASDAQ:HLIT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the six research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $12.33.

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of Harmonic from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Rosenblatt Securities reissued a "buy" rating and issued a $11.00 price objective on shares of Harmonic in a research note on Tuesday, June 17th. Barclays reissued an "underperform" rating on shares of Harmonic in a research note on Tuesday, April 29th. Finally, Needham & Company LLC reissued a "buy" rating and set a $14.00 price objective on shares of Harmonic in a report on Tuesday, April 29th.

Hedge Funds Weigh In On Harmonic

Several hedge funds have recently bought and sold shares of the stock. Amundi boosted its position in Harmonic by 113.3% during the fourth quarter. Amundi now owns 71,976 shares of the communications equipment provider's stock worth $962,000 after acquiring an additional 38,230 shares during the last quarter. Russell Investments Group Ltd. increased its position in Harmonic by 5,388.1% during the 4th quarter. Russell Investments Group Ltd. now owns 5,543 shares of the communications equipment provider's stock worth $73,000 after purchasing an additional 5,442 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Harmonic in the 4th quarter valued at $4,292,000. Principal Financial Group Inc. raised its position in Harmonic by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 568,187 shares of the communications equipment provider's stock valued at $7,517,000 after purchasing an additional 17,562 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Harmonic by 415.7% during the 1st quarter. GAMMA Investing LLC now owns 8,612 shares of the communications equipment provider's stock valued at $898,000 after buying an additional 6,942 shares during the period. Hedge funds and other institutional investors own 99.38% of the company's stock.

Harmonic Stock Down 0.2%

Shares of Harmonic stock traded down $0.02 during trading on Friday, hitting $9.47. 1,169,792 shares of the stock were exchanged, compared to its average volume of 1,144,182. The firm's 50-day moving average price is $9.19 and its 200 day moving average price is $10.35. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 21.04 and a beta of 1.04. Harmonic has a 12-month low of $7.91 and a 12-month high of $15.46. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.06 and a quick ratio of 1.69.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. The company had revenue of $133.14 million during the quarter, compared to the consensus estimate of $127.51 million. Harmonic had a net margin of 7.72% and a return on equity of 18.28%. The business's quarterly revenue was up 9.1% compared to the same quarter last year. As a group, analysts forecast that Harmonic will post 0.31 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.