Harmonic Inc (HLIT) Receives $7.17 Consensus PT from Analysts

Harmonic Inc (NASDAQ:HLIT) has been assigned an average rating of “Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $7.17.

A number of research analysts have weighed in on HLIT shares. Zacks Investment Research raised shares of Harmonic from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a research report on Saturday, November 3rd. ValuEngine cut shares of Harmonic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. BidaskClub raised shares of Harmonic from a “hold” rating to a “buy” rating in a research report on Wednesday, September 26th. Loop Capital started coverage on shares of Harmonic in a research report on Thursday, September 20th. They set a “buy” rating and a $8.25 price target on the stock. Finally, Northland Securities set a $7.00 target price on shares of Harmonic and gave the stock a “buy” rating in a research report on Thursday, August 2nd.

Large investors have recently modified their holdings of the stock. Manatuck Hill Partners LLC bought a new stake in shares of Harmonic in the second quarter worth $128,000. SG Americas Securities LLC bought a new stake in Harmonic during the second quarter valued at $138,000. Metropolitan Life Insurance Co. NY increased its stake in Harmonic by 112.4% during the second quarter. Metropolitan Life Insurance Co. NY now owns 36,235 shares of the communications equipment provider’s stock valued at $154,000 after purchasing an additional 19,174 shares during the last quarter. Laurion Capital Management LP bought a new stake in Harmonic during the second quarter valued at $213,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Harmonic during the second quarter valued at $253,000. Institutional investors and hedge funds own 86.42% of the company’s stock.

Harmonic stock opened at $5.96 on Tuesday. Harmonic has a 1 year low of $2.90 and a 1 year high of $6.23. The company has a market capitalization of $514.98 million, a P/E ratio of -11.04 and a beta of 0.67. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.57.

Harmonic (NASDAQ:HLIT) last released its earnings results on Monday, October 29th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. Harmonic had a negative net margin of 9.26% and a negative return on equity of 5.97%. The firm had revenue of $101.40 million during the quarter, compared to the consensus estimate of $99.46 million. During the same period in the previous year, the firm earned ($0.01) earnings per share. Harmonic’s revenue was up 10.7% compared to the same quarter last year. On average, research analysts predict that Harmonic will post -0.04 earnings per share for the current year.

About Harmonic

Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.

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