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

Shares of Harmonic Inc. (NASDAQ:HLIT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $12.33.

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

Hedge Funds Weigh In On Harmonic

Several hedge funds and other institutional investors have recently modified their holdings of HLIT. Voya Investment Management LLC increased its position in shares of Harmonic by 44.7% during the first quarter. Voya Investment Management LLC now owns 98,457 shares of the communications equipment provider's stock valued at $944,000 after buying an additional 30,398 shares during the period. Inspire Investing LLC increased its position in shares of Harmonic by 181.7% during the first quarter. Inspire Investing LLC now owns 84,930 shares of the communications equipment provider's stock valued at $814,000 after buying an additional 54,776 shares during the period. Intech Investment Management LLC increased its position in shares of Harmonic by 24.4% during the first quarter. Intech Investment Management LLC now owns 548,876 shares of the communications equipment provider's stock valued at $5,264,000 after buying an additional 107,520 shares during the period. Jane Street Group LLC increased its position in shares of 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 buying an additional 224,534 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Harmonic by 9.7% during the first 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 valued at $3,390,000 after buying an additional 31,276 shares during the period. 99.38% of the stock is owned by institutional investors.

Harmonic Price Performance

Shares of NASDAQ:HLIT opened at $9.42 on Friday. The stock has a market cap of $1.07 billion, a PE ratio of 20.93 and a beta of 1.04. The company's fifty day moving average is $9.16 and its 200 day moving average is $10.44. Harmonic has a 52 week low of $7.91 and a 52 week high of $15.46. The company has a quick ratio of 1.69, a current ratio of 2.06 and a debt-to-equity ratio of 0.27.

Harmonic (NASDAQ:HLIT - Get Free Report) last issued its earnings results on Monday, April 28th. The communications equipment provider reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.06. The company had revenue of $133.14 million for the quarter, compared to analysts' expectations of $127.51 million. Harmonic had a net margin of 7.72% and a return on equity of 18.28%. The business's revenue was up 9.1% on a year-over-year basis. Research analysts anticipate that Harmonic will post 0.31 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.