Harmonic (NASDAQ:HLIT – Get Rating) had its target price lowered by Raymond James from $18.00 to $17.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the communications equipment provider's stock.
HLIT has been the subject of a number of other research reports. Needham & Company LLC lifted their price objective on shares of Harmonic from $17.00 to $19.00 and gave the company a buy rating in a report on Tuesday, January 24th. StockNews.com cut shares of Harmonic from a buy rating to a hold rating in a report on Thursday, November 3rd. Rosenblatt Securities restated a buy rating and issued a $20.00 price target on shares of Harmonic in a research report on Tuesday. Jefferies Financial Group raised shares of Harmonic from a hold rating to a buy rating and upped their price objective for the company from $14.25 to $19.00 in a research note on Monday, January 9th. Finally, Barclays upped their price objective on Harmonic from $17.00 to $20.00 and gave the stock an overweight rating in a report on Tuesday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $18.33.
Get Harmonic alerts:Harmonic Stock Performance
Shares of Harmonic stock opened at $13.17 on Tuesday. Harmonic has a one year low of $8.25 and a one year high of $15.80. The company has a market capitalization of $1.39 billion, a PE ratio of 50.66 and a beta of 0.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.07 and a current ratio of 1.52. The company has a 50-day simple moving average of $14.09 and a two-hundred day simple moving average of $12.93.
Harmonic (NASDAQ:HLIT – Get Rating) last issued its quarterly earnings data on Monday, October 31st. The communications equipment provider reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $155.70 million for the quarter, compared to analyst estimates of $153.27 million. Harmonic had a return on equity of 12.55% and a net margin of 4.51%. Harmonic's quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. Research analysts expect that Harmonic will post 0.49 EPS for the current fiscal year.Insider Buying and Selling at Harmonic
In other news, SVP Nimrod Ben-Natan sold 50,000 shares of Harmonic stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $14.90, for a total transaction of $745,000.00. Following the sale, the senior vice president now owns 265,023 shares of the company's stock, valued at approximately $3,948,842.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Harmonic news, SVP Nimrod Ben-Natan sold 50,000 shares of the stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $14.90, for a total transaction of $745,000.00. Following the completion of the transaction, the senior vice president now directly owns 265,023 shares in the company, valued at $3,948,842.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Neven Haltmayer sold 24,947 shares of the business's stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $14.80, for a total value of $369,215.60. Following the completion of the transaction, the senior vice president now directly owns 150,447 shares in the company, valued at $2,226,615.60. The disclosure for this sale can be found here. Insiders have sold 230,822 shares of company stock valued at $3,303,390 in the last 90 days. 3.50% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Harmonic
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Harmonic by 0.5% in the first quarter. BlackRock Inc. now owns 16,004,878 shares of the communications equipment provider's stock valued at $148,685,000 after buying an additional 72,246 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Harmonic by 5.5% in the 3rd quarter. Vanguard Group Inc. now owns 7,459,977 shares of the communications equipment provider's stock valued at $97,501,000 after acquiring an additional 389,000 shares during the period. Trigran Investments Inc. increased its position in Harmonic by 13.0% during the third quarter. Trigran Investments Inc. now owns 6,835,062 shares of the communications equipment provider's stock worth $89,334,000 after buying an additional 784,597 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Harmonic by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,768,594 shares of the communications equipment provider's stock valued at $44,300,000 after acquiring an additional 51,817 shares during the period. Finally, State Street Corp boosted its holdings in shares of Harmonic by 2.1% during the 3rd quarter. State Street Corp now owns 3,282,322 shares of the communications equipment provider's stock worth $42,900,000 after buying an additional 68,405 shares during the period. Institutional investors own 97.72% of the company's stock.
About Harmonic
(Get Rating)
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.
See Also
- Get a free copy of the StockNews.com research report on Harmonic (HLIT)
- How Do Lawsuits Affect Johnson & Johnson's Stock Price?
- Has The Salesforce Turnaround Begun?
- Pfizer Stock: What the Bulls and Bears are Getting Wrong
- Should You Take General Motors for a Ride After Earnings?
- These 2 Healthcare Stocks Have Doubled in 2023
Receive News & Ratings for Harmonic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmonic and related companies with MarketBeat.com's FREE daily email newsletter.