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

Rosenblatt Securities reissued their buy rating on shares of Harmonic (NASDAQ:HLIT - Free Report) in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a $16.00 price objective on the communications equipment provider's stock.

Several other analysts have also issued reports on the company. Needham & Company LLC reissued a "buy" rating and set a $18.00 price target on shares of Harmonic in a report on Tuesday, October 29th. Jefferies Financial Group downgraded Harmonic from a "buy" rating to a "hold" rating and cut their price objective for the company from $14.00 to $12.50 in a research note on Tuesday, October 29th. Raymond James cut shares of Harmonic from a "strong-buy" rating to an "outperform" rating and decreased their target price for the stock from $17.00 to $14.00 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 for the company in a research report on Tuesday, October 29th. Finally, Barclays downgraded shares of Harmonic from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $17.00 to $14.00 in a research report on Thursday, January 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Harmonic currently has a consensus rating of "Moderate Buy" and an average target price of $14.75.

Harmonic Stock Performance

Shares of HLIT stock traded down $0.22 during mid-day trading on Tuesday, reaching $11.13. 1,196,213 shares of the company's stock traded hands, compared to its average volume of 986,265. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.08. The firm has a market capitalization of $1.30 billion, a PE ratio of 15.25 and a beta of 0.89. Harmonic has a 12 month low of $9.10 and a 12 month high of $15.46. The firm has a 50 day moving average price of $12.68 and a two-hundred day moving average price of $13.13.

Hedge Funds Weigh In On Harmonic

Several hedge funds have recently modified their holdings of HLIT. AQR Capital Management LLC bought a new stake in Harmonic in the 2nd quarter valued at $1,417,000. Algert Global LLC purchased a new position in shares of Harmonic during the second quarter valued at about $289,000. SG Americas Securities LLC bought a new stake in shares of Harmonic in the third quarter worth about $771,000. GAMMA Investing LLC increased its holdings in shares of Harmonic by 117.6% in the third 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 during the last quarter. Finally, CWM LLC lifted its position in shares of Harmonic by 274.2% in the third quarter. CWM LLC now owns 8,439 shares of the communications equipment provider's stock worth $123,000 after buying an additional 6,184 shares in the last quarter. Hedge funds and other institutional investors own 99.38% of the company's stock.

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.