Harmonic Inc. (NASDAQ:HLIT) Receives Average Recommendation of "Hold" from Brokerages

Harmonic Inc. (NASDAQ:HLIT - Get Free Report) has earned an average recommendation of "Hold" from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $12.33.

A number of equities analysts have commented on the stock. Rosenblatt Securities reaffirmed a "buy" rating and set a $11.00 price objective on shares of Harmonic in a research report on Tuesday, June 17th. Wolfe Research started coverage on shares of Harmonic in a research report on Tuesday, July 8th. They issued an "underperform" rating for the company. Wall Street Zen cut shares of Harmonic from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 price objective on shares of Harmonic in a research report on Tuesday, April 29th. Finally, Barclays reaffirmed an "underperform" rating on shares of Harmonic in a research note on Tuesday, April 29th.

Harmonic Stock Down 0.2%

HLIT stock opened at $9.23 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.06 and a quick ratio of 1.69. The firm has a market capitalization of $1.04 billion, a PE ratio of 20.51 and a beta of 1.05. The company's 50 day simple moving average is $9.31 and its 200-day simple moving average is $9.97. Harmonic has a 12 month low of $7.91 and a 12 month high of $15.46.

Harmonic (NASDAQ:HLIT - Get Free Report) last issued 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. Harmonic had a net margin of 7.72% and a return on equity of 18.28%. The firm had revenue of $133.14 million for the quarter, compared to the consensus estimate of $127.51 million. The firm's quarterly revenue was up 9.1% on a year-over-year basis. Equities analysts expect that Harmonic will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Harmonic

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in shares of Harmonic in the 4th quarter valued at $4,292,000. Cibc World Markets Corp bought a new position in Harmonic during the fourth quarter worth $137,000. Teacher Retirement System of Texas increased its stake in Harmonic by 363.8% in the fourth quarter. Teacher Retirement System of Texas now owns 50,070 shares of the communications equipment provider's stock valued at $662,000 after purchasing an additional 39,275 shares in the last quarter. Quantbot Technologies LP bought a new stake in Harmonic in the fourth quarter valued at $209,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Harmonic during the fourth quarter worth about $307,000. 99.38% of the stock is owned by institutional investors and hedge funds.

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.

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