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 (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.
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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