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

Harmonic Inc. (NASDAQ:HLIT - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $14.75.

A number of equities analysts have issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 target price on shares of Harmonic in a research report on Tuesday, October 29th. Jefferies Financial Group lowered shares of Harmonic from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $14.00 to $12.50 in a report on Tuesday, October 29th. Rosenblatt Securities reduced their price target on shares of Harmonic from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, October 29th. Raymond James lowered Harmonic from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $17.00 to $14.00 in a report on Tuesday, October 29th. Finally, Northland Securities cut their price objective on Harmonic from $16.00 to $14.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 29th.

Institutional Trading of Harmonic

A number of large investors have recently modified their holdings of the company. Entropy Technologies LP acquired a new position in Harmonic during the 4th quarter worth $146,000. Yorktown Management & Research Co Inc acquired a new stake in Harmonic in the fourth quarter worth about $344,000. KBC Group NV grew its position in Harmonic by 84.8% in the 4th quarter. KBC Group NV now owns 6,295 shares of the communications equipment provider's stock valued at $83,000 after buying an additional 2,888 shares in the last quarter. Inspire Investing LLC increased its stake in Harmonic by 6.9% during the 4th quarter. Inspire Investing LLC now owns 30,154 shares of the communications equipment provider's stock valued at $399,000 after buying an additional 1,944 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Harmonic by 18.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 246,944 shares of the communications equipment provider's stock worth $3,598,000 after buying an additional 38,137 shares in the last quarter. Institutional investors and hedge funds own 99.38% of the company's stock.

Harmonic Price Performance

Shares of HLIT remained flat at $11.56 during mid-day trading on Tuesday. 754,876 shares of the stock were exchanged, compared to its average volume of 1,003,146. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 15.84 and a beta of 0.91. The firm has a 50-day moving average of $12.84 and a two-hundred day moving average of $13.20. 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 has a 12 month low of $9.10 and a 12 month high of $15.46.

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