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

Harmonic Inc. (NASDAQ:HLIT - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $12.33.

Several equities analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Harmonic in a research note on Friday, February 21st. They issued a "hold" rating for the company. Wall Street Zen raised shares of Harmonic from a "hold" rating to a "buy" rating in a research report on Thursday, March 27th. Northland Securities decreased their price objective on shares of Harmonic from $14.00 to $12.50 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. Barclays reiterated an "underperform" rating on shares of Harmonic in a report on Tuesday, April 29th. Finally, Rosenblatt Securities reduced their price target on Harmonic from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 29th.

Harmonic Stock Down 0.9%

Harmonic stock traded down $0.08 during mid-day trading on Monday, reaching $9.32. The company's stock had a trading volume of 427,254 shares, compared to its average volume of 1,141,689. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 28.24 and a beta of 1.03. Harmonic has a 12 month low of $7.91 and a 12 month high of $15.46. The business's 50 day simple moving average is $9.07 and its 200 day simple moving average is $10.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.80 and a current ratio of 2.18.

Harmonic (NASDAQ:HLIT - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The communications equipment provider reported $0.11 earnings per share 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 analysts' expectations of $127.51 million. Harmonic had a return on equity of 15.90% and a net margin of 5.78%. The company's revenue was up 9.1% compared to the same quarter last year. As a group, research analysts anticipate that Harmonic will post 0.31 earnings per share for the current year.

Harmonic announced that its board has initiated a stock buyback plan on Monday, February 10th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the communications equipment provider to purchase up to 15.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Harmonic

A number of institutional investors have recently modified their holdings of the business. Inspire Investing LLC boosted its position in shares of Harmonic by 181.7% in the first quarter. Inspire Investing LLC now owns 84,930 shares of the communications equipment provider's stock valued at $814,000 after acquiring an additional 54,776 shares during the period. Intech Investment Management LLC boosted its holdings in Harmonic by 24.4% in the 1st quarter. Intech Investment Management LLC now owns 548,876 shares of the communications equipment provider's stock valued at $5,264,000 after purchasing an additional 107,520 shares during the period. Jane Street Group LLC boosted its holdings in Harmonic by 978.5% in the 1st 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Harmonic by 9.7% in 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. Finally, Dean Capital Management boosted its stake in shares of Harmonic by 51.3% in the first quarter. Dean Capital Management now owns 145,075 shares of the communications equipment provider's stock valued at $1,391,000 after buying an additional 49,202 shares during the period. Institutional investors own 99.38% of the company's stock.

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.