Harmonic Inc. (NASDAQ:HLIT) Receives Average Rating of "Buy" from Analysts

Shares of Harmonic Inc. (NASDAQ:HLIT - Get Free Report) have been assigned an average recommendation of "Buy" from the five ratings firms that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $17.20.

Several research analysts recently issued reports on HLIT shares. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price target on shares of Harmonic in a research note on Wednesday, April 17th. Raymond James cut their price target on Harmonic from $19.00 to $18.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, January 30th. TheStreet upgraded Harmonic from a "c" rating to a "b" rating in a research note on Monday, January 29th. StockNews.com upgraded Harmonic from a "sell" rating to a "hold" rating in a report on Wednesday, February 28th. Finally, Rosenblatt Securities reduced their price target on shares of Harmonic from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, January 30th.

Insiders Place Their Bets

In related news, SVP Neven Haltmayer sold 14,747 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $13.68, for a total value of $201,738.96. Following the completion of the transaction, the senior vice president now owns 156,559 shares of the company's stock, valued at approximately $2,141,727.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Neven Haltmayer sold 14,747 shares of the business's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $13.68, for a total value of $201,738.96. Following the transaction, the senior vice president now directly owns 156,559 shares of the company's stock, valued at approximately $2,141,727.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the company's stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $12.91, for a total value of $1,291,000.00. Following the completion of the transaction, the senior vice president now owns 302,214 shares of the company's stock, valued at $3,901,582.74. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock worth $1,917,122 over the last three months. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Harmonic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HLIT. SG Americas Securities LLC purchased a new stake in Harmonic during the third quarter valued at $299,000. Exchange Traded Concepts LLC bought a new position in shares of Harmonic in the 3rd quarter valued at about $522,000. Harbor Capital Advisors Inc. grew its position in Harmonic by 41.4% in the third quarter. Harbor Capital Advisors Inc. now owns 27,212 shares of the communications equipment provider's stock worth $262,000 after acquiring an additional 7,962 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Harmonic by 551.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 122,937 shares of the communications equipment provider's stock worth $1,184,000 after acquiring an additional 104,061 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in Harmonic by 65.8% during the third quarter. Inspire Investing LLC now owns 32,184 shares of the communications equipment provider's stock worth $310,000 after acquiring an additional 12,778 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

Harmonic Price Performance

Harmonic stock remained flat at $9.20 during trading hours on Friday. The company's stock had a trading volume of 7,936,060 shares, compared to its average volume of 2,108,406. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.21. Harmonic has a 1-year low of $8.80 and a 1-year high of $18.43. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 12.96 and a beta of 0.84. The stock has a 50-day simple moving average of $12.25 and a 200-day simple moving average of $11.76.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. The firm had revenue of $167.10 million for the quarter, compared to analysts' expectations of $158.98 million. During the same period in the previous year, the firm earned $0.12 earnings per share. The business's revenue was up 1.7% compared to the same quarter last year. As a group, research analysts expect that Harmonic will post 0.32 earnings per share for the current 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.