Harmonic (NASDAQ:HLIT) Now Covered by Wolfe Research

Research analysts at Wolfe Research assumed coverage on shares of Harmonic (NASDAQ:HLIT - Get Free Report) in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set an "underperform" rating on the communications equipment provider's stock.

HLIT has been the topic of a number of other research reports. Barclays reissued an "underperform" rating on shares of Harmonic in a research report on Tuesday, April 29th. Rosenblatt Securities restated a "buy" rating and issued a $11.00 price target on shares of Harmonic in a research note on Tuesday, June 17th. Wall Street Zen upgraded shares of Harmonic from a "buy" rating to a "strong-buy" rating in a research note on Friday, June 6th. Finally, Needham & Company LLC restated a "buy" rating and issued a $14.00 price target on shares of Harmonic in a research note on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $12.33.

Harmonic Stock Down 5.0%

Shares of NASDAQ:HLIT opened at $9.67 on Tuesday. Harmonic has a one year low of $7.91 and a one year high of $15.46. The company has a 50 day moving average of $9.28 and a 200-day moving average of $10.23. 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 stock has a market cap of $1.09 billion, a price-to-earnings ratio of 21.39 and a beta of 1.05.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.06. The firm had revenue of $133.14 million during 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 quarterly revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts forecast that Harmonic will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its holdings in Harmonic by 44.7% during the 1st quarter. Voya Investment Management LLC now owns 98,457 shares of the communications equipment provider's stock worth $944,000 after purchasing an additional 30,398 shares during the last quarter. Inspire Investing LLC raised its holdings in Harmonic by 181.7% during the 1st quarter. Inspire Investing LLC now owns 84,930 shares of the communications equipment provider's stock worth $814,000 after purchasing an additional 54,776 shares during the last quarter. Intech Investment Management LLC raised its holdings in Harmonic by 24.4% during the 1st quarter. Intech Investment Management LLC now owns 548,876 shares of the communications equipment provider's stock worth $5,264,000 after purchasing an additional 107,520 shares during the last quarter. Jane Street Group LLC raised its holdings in Harmonic by 978.5% during the 1st quarter. Jane Street Group LLC now owns 247,480 shares of the communications equipment provider's stock worth $2,373,000 after purchasing an additional 224,534 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Harmonic by 9.7% during the 1st 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 worth $3,390,000 after purchasing an additional 31,276 shares during the last quarter. 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.

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