Harmonic (NASDAQ:HLIT – Get Rating) had its target price hoisted by Barclays from $17.00 to $20.00 in a research report released on Tuesday, The Fly reports. They currently have an overweight rating on the communications equipment provider's stock.
Other equities analysts also recently issued research reports about the stock. Rosenblatt Securities boosted their price target on shares of Harmonic from $17.00 to $20.00 and gave the company a buy rating in a report on Wednesday, October 19th. Raymond James boosted their price target on shares of Harmonic from $13.00 to $18.00 and gave the company an outperform rating in a report on Tuesday, November 1st. Needham & Company LLC boosted their price target on shares of Harmonic from $17.00 to $19.00 and gave the company a buy rating in a report on Tuesday, January 24th. Jefferies Financial Group upgraded shares of Harmonic from a hold rating to a buy rating and lifted their price objective for the company from $14.25 to $19.00 in a research note on Monday, January 9th. Finally, StockNews.com cut shares of Harmonic from a buy rating to a hold rating in a research note on Thursday, November 3rd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of Buy and an average price target of $18.33.
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Harmonic Stock Performance
Shares of HLIT opened at $14.29 on Tuesday. Harmonic has a 1 year low of $8.25 and a 1 year high of $15.80. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 54.96 and a beta of 0.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.07 and a current ratio of 1.08. The firm has a fifty day moving average of $14.06 and a 200-day moving average of $12.99.
Insiders Place Their Bets
In other Harmonic news, SVP Neven Haltmayer sold 24,947 shares of the business's stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $14.80, for a total value of $369,215.60. Following the sale, the senior vice president now directly owns 150,447 shares in the company, valued at $2,226,615.60. The sale was disclosed in a document filed with the SEC, which is available through
this hyperlink. In other Harmonic news, CEO Patrick Harshman sold 6,040 shares of the business's stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $13.41, for a total value of $80,996.40. Following the sale, the chief executive officer now directly owns 434,578 shares in the company, valued at $5,827,690.98. The sale was disclosed in a document filed with the SEC, which is available through
this hyperlink. Also, SVP Neven Haltmayer sold 24,947 shares of the business's stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $14.80, for a total transaction of $369,215.60. Following the completion of the sale, the senior vice president now owns 150,447 shares in the company, valued at $2,226,615.60. The disclosure for this sale can be found
here. Over the last three months, insiders have sold 80,987 shares of company stock worth $1,195,212. 3.50% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Harmonic
Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue increased its stake in Harmonic by 1.0% in the 4th quarter. State of Alaska Department of Revenue now owns 73,472 shares of the communications equipment provider's stock worth $962,000 after purchasing an additional 736 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Harmonic by 5.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 16,981 shares of the communications equipment provider's stock worth $222,000 after purchasing an additional 872 shares in the last quarter. Sei Investments Co. increased its stake in Harmonic by 5.1% in the 2nd quarter. Sei Investments Co. now owns 25,432 shares of the communications equipment provider's stock worth $238,000 after purchasing an additional 1,233 shares in the last quarter. Waterfront Wealth Inc. increased its stake in Harmonic by 3.3% in the 4th quarter. Waterfront Wealth Inc. now owns 40,728 shares of the communications equipment provider's stock worth $601,000 after purchasing an additional 1,285 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Harmonic by 0.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 193,425 shares of the communications equipment provider's stock worth $1,677,000 after purchasing an additional 1,460 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors.
Harmonic Company Profile
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Harmonic, Inc engages in the development and sale of video delivery software, products, system solutions, and services. It operates through the Video and Cable Access segments. The Video segment sells video processing and production and playout services to cable operators, satellite and telecommunications pay-TV service providers, and broadcast and media companies.
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