Harmonic (NASDAQ:HLIT) Earns "Buy" Rating from Rosenblatt Securities

Harmonic (NASDAQ:HLIT - Get Free Report)'s stock had its "buy" rating reissued by Rosenblatt Securities in a report released on Tuesday,Benzinga reports. They presently have a $11.00 price objective on the communications equipment provider's stock. Rosenblatt Securities' price objective indicates a potential upside of 23.87% from the company's current price.

Other research analysts have also recently issued reports about the stock. Barclays reiterated an "underperform" rating on shares of Harmonic in a report on Tuesday, April 29th. Wall Street Zen raised shares of Harmonic from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 6th. Needham & Company LLC reissued a "buy" rating and set a $14.00 price objective on shares of Harmonic in a report on Tuesday, April 29th. Finally, Jefferies Financial Group started coverage on Harmonic in a research note on Friday, February 21st. They issued a "hold" rating for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $12.33.

Harmonic Stock Up 1.0%

NASDAQ:HLIT traded up $0.09 on Tuesday, hitting $8.88. The stock had a trading volume of 2,271,053 shares, compared to its average volume of 1,142,586. 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 has a 52 week low of $7.91 and a 52 week high of $15.46. The business's fifty day moving average is $9.13 and its 200 day moving average is $10.57. The company has a market cap of $1.00 billion, a PE ratio of 19.73 and a beta of 1.04.

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

Institutional Investors Weigh In On Harmonic

A number of institutional investors have recently added to or reduced their stakes in HLIT. Quarry LP bought a new position in shares of Harmonic during the 4th quarter worth approximately $33,000. Russell Investments Group Ltd. increased its position in shares of Harmonic by 5,388.1% during the fourth quarter. Russell Investments Group Ltd. now owns 5,543 shares of the communications equipment provider's stock valued at $73,000 after acquiring an additional 5,442 shares during the last quarter. AlphaQuest LLC lifted its holdings in Harmonic by 14,765.9% during the fourth quarter. AlphaQuest LLC now owns 6,095 shares of the communications equipment provider's stock worth $81,000 after acquiring an additional 6,054 shares during the period. CWM LLC lifted its holdings in Harmonic by 132.6% during the first quarter. CWM LLC now owns 7,119 shares of the communications equipment provider's stock worth $68,000 after acquiring an additional 4,058 shares during the period. Finally, GAMMA Investing LLC boosted its position in Harmonic by 415.7% in the first quarter. GAMMA Investing LLC now owns 8,612 shares of the communications equipment provider's stock worth $898,000 after purchasing an additional 6,942 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

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.