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

Harmonic Inc. (NASDAQ:HLIT) has received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $15.25.

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

Hedge Funds Weigh In On Harmonic

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Harmonic by 117.6% during the third quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 1,323 shares in the last quarter. CWM LLC raised 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 acquiring an additional 6,184 shares during the period. iSAM Funds UK Ltd purchased a new stake in shares of Harmonic during the 3rd quarter worth about $166,000. Captrust Financial Advisors grew its position in shares of Harmonic by 14.9% during the 3rd quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider’s stock valued at $185,000 after acquiring an additional 1,647 shares during the period. Finally, Versor Investments LP purchased a new position in shares of Harmonic in the 3rd quarter valued at about $227,000. 99.38% of the stock is owned by hedge funds and other institutional investors.

Harmonic Price Performance

Shares of HLIT stock opened at $13.55 on Friday. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 18.56 and a beta of 0.91. 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 stock’s 50-day simple moving average is $12.68 and its 200-day simple moving average is $13.10. Harmonic has a fifty-two week low of $9.10 and a fifty-two week high of $15.46.

Harmonic (NASDAQ:HLIT) last released its earnings results on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.09. The company had revenue of $195.80 million for the quarter, compared to the consensus estimate of $181.77 million. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. Harmonic’s revenue was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. As a group, equities analysts forecast 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.