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

Shares of Harmonic Inc. (NASDAQ:HLIT) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $15.25.

A number of analysts recently weighed in on HLIT shares. Raymond James cut shares of Harmonic from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $17.00 to $14.00 in a report on Tuesday, October 29th. Barclays lowered their target price on Harmonic from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Northland Securities dropped their price objective 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. Jefferies Financial Group lowered shares of Harmonic from a “buy” rating to a “hold” rating and decreased their target price for the company from $14.00 to $12.50 in a research note on Tuesday, October 29th. Finally, Rosenblatt Securities dropped their target price on Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th.

Harmonic Stock Performance

Harmonic stock opened at $11.92 on Thursday. 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 has a 12 month low of $9.10 and a 12 month high of $15.46. The stock’s 50-day moving average is $13.40 and its 200-day moving average is $12.74. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 16.33 and a beta of 0.89.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The firm had revenue of $195.80 million during the quarter, compared to the consensus estimate of $181.77 million. During the same quarter in the prior year, the business posted ($0.05) earnings per share. Harmonic’s revenue for the quarter was up 53.9% on a year-over-year basis. Equities analysts anticipate that Harmonic will post 0.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC boosted its stake in shares of Harmonic by 780.9% in the 2nd quarter. CWM LLC now owns 2,255 shares of the communications equipment provider’s stock valued at $27,000 after purchasing an additional 1,999 shares in the last quarter. GAMMA Investing LLC raised its stake 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 valued at $36,000 after acquiring an additional 1,323 shares during the last quarter. Innealta Capital LLC bought a new stake in Harmonic during the 2nd quarter worth approximately $47,000. SageView Advisory Group LLC acquired a new stake in shares of Harmonic in the first quarter valued at $114,000. Finally, iSAM Funds UK Ltd bought a new position in shares of Harmonic in the third quarter valued at about $166,000. 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.