Harmonic Inc. (NASDAQ:HLIT) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Harmonic Inc. (NASDAQ:HLIT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $15.25.

Several equities analysts have issued reports on the stock. Needham & Company LLC reissued a "buy" rating and issued a $18.00 price objective on shares of Harmonic in a research note on Tuesday, October 29th. Northland Securities dropped their price target on shares of Harmonic from $16.00 to $14.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 29th. Rosenblatt Securities reduced their price objective on shares of Harmonic from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, October 29th. Raymond James cut Harmonic from a "strong-buy" rating to an "outperform" rating and dropped their target price for the stock from $17.00 to $14.00 in a research report on Tuesday, October 29th. Finally, Barclays cut their target price on Harmonic from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Tuesday, October 29th.

Institutional Investors Weigh In On Harmonic

A number of institutional investors and hedge funds have recently modified their holdings of HLIT. Dimensional Fund Advisors LP raised its holdings in Harmonic by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 3,741,998 shares of the communications equipment provider's stock worth $44,043,000 after purchasing an additional 294,922 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Harmonic by 0.7% in the third quarter. Geode Capital Management LLC now owns 2,675,268 shares of the communications equipment provider's stock valued at $38,986,000 after buying an additional 17,665 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of Harmonic by 15.3% during the 3rd quarter. Wasatch Advisors LP now owns 1,659,823 shares of the communications equipment provider's stock worth $24,184,000 after buying an additional 219,685 shares during the last quarter. Clearline Capital LP boosted its position in shares of Harmonic by 777.6% in the 2nd quarter. Clearline Capital LP now owns 1,570,461 shares of the communications equipment provider's stock worth $18,484,000 after buying an additional 1,391,504 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Harmonic by 85.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,208,829 shares of the communications equipment provider's stock valued at $17,613,000 after acquiring an additional 555,737 shares during the last quarter. Institutional investors and hedge funds own 99.38% of the company's stock.

Harmonic Stock Performance

Shares of HLIT traded up $0.47 during mid-day trading on Friday, hitting $13.55. 1,393,319 shares of the company's stock were exchanged, compared to its average volume of 1,078,660. The firm has a market capitalization of $1.58 billion, a P/E ratio of 18.56 and a beta of 0.91. Harmonic has a fifty-two week low of $9.10 and a fifty-two week high of $15.46. The business's 50 day moving average is $12.68 and its two-hundred day moving average is $13.09. The company has a current ratio of 2.08, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29.

Harmonic (NASDAQ:HLIT - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.09. The company had revenue of $195.80 million during the quarter, compared to analysts' expectations of $181.77 million. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The firm's revenue for the quarter was up 53.9% on a year-over-year basis. During the same period last year, the firm earned ($0.05) EPS. On average, equities analysts expect that Harmonic will post 0.52 earnings per share for the current year.

About Harmonic

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.