Harmonic Inc. (NASDAQ:HLIT) Receives $15.25 Average Price Target from Analysts

Shares of Harmonic Inc. (NASDAQ:HLIT - Get Free Report) have been given an average rating of "Moderate Buy" by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $15.25.

A number of research firms have recently weighed in on HLIT. Rosenblatt Securities cut their target price on Harmonic from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, October 29th. Northland Securities cut their target price on Harmonic from $16.00 to $14.00 and set an "outperform" rating for the company in a research report on Tuesday, October 29th. Needham & Company LLC reiterated a "buy" rating and set a $18.00 target price on shares of Harmonic in a research report on Tuesday, October 29th. Raymond James downgraded Harmonic from a "strong-buy" rating to an "outperform" rating and cut their target price for the company 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 report on Tuesday, October 29th.

Hedge Funds Weigh In On Harmonic

A number of institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Harmonic by 117.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider's stock worth $36,000 after purchasing an additional 1,323 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in Harmonic by 7.2% in the 2nd quarter. Dark Forest Capital Management LP now owns 20,192 shares of the communications equipment provider's stock worth $238,000 after purchasing an additional 1,362 shares in the last quarter. Rhumbline Advisers increased its holdings in Harmonic by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 320,516 shares of the communications equipment provider's stock worth $3,772,000 after purchasing an additional 1,382 shares in the last quarter. Captrust Financial Advisors increased its holdings in Harmonic by 14.9% in the 3rd quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider's stock worth $185,000 after purchasing an additional 1,647 shares in the last quarter. Finally, CWM LLC increased its holdings in Harmonic by 780.9% in the 2nd quarter. CWM LLC now owns 2,255 shares of the communications equipment provider's stock worth $27,000 after purchasing an additional 1,999 shares in the last quarter. Institutional investors and hedge funds own 99.38% of the company's stock.

Harmonic Stock Performance

HLIT traded up $0.11 during trading on Monday, hitting $13.00. The stock had a trading volume of 675,972 shares, compared to its average volume of 1,467,756. The company has a 50 day moving average price of $12.96 and a 200-day moving average price of $12.90. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 17.81 and a beta of 0.92. Harmonic has a one year low of $9.10 and a one year high of $15.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.62.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.09. The business had revenue of $195.80 million during the quarter, compared to the consensus estimate of $181.77 million. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The firm's quarterly revenue was up 53.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. As a group, research analysts predict that Harmonic will post 0.52 EPS 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.