Upgrades Harmonic (NASDAQ:HLIT) to “Hold” upgraded shares of Harmonic (NASDAQ:HLITFree Report) from a sell rating to a hold rating in a report issued on Friday.

A number of other equities research analysts also recently issued reports on HLIT. Barclays cut their target price on shares of Harmonic from $23.00 to $20.00 and set an overweight rating for the company in a research report on Tuesday, August 1st. Raymond James upgraded shares of Harmonic from an outperform rating to a strong-buy rating and raised their target price for the company from $15.00 to $16.00 in a research note on Thursday, August 10th. Rosenblatt Securities lowered their target price on Harmonic from $22.00 to $18.00 and set a buy rating on the stock in a report on Tuesday, August 1st. Northland Securities dropped their target price on shares of Harmonic from $23.00 to $20.00 and set an outperform rating on the stock in a research report on Tuesday, August 1st. Finally, TheStreet cut shares of Harmonic from a b rating to a c+ rating in a research note on Monday, July 31st. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from, the company currently has a consensus rating of Buy and an average target price of $18.50.

Check Out Our Latest Analysis on HLIT

Harmonic Stock Up 1.4 %

Harmonic stock opened at $9.85 on Friday. The company’s 50-day moving average price is $11.94 and its two-hundred day moving average price is $14.19. The company has a current ratio of 1.15, a quick ratio of 0.76 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 54.73 and a beta of 0.88. Harmonic has a 52 week low of $9.49 and a 52 week high of $18.43.

Harmonic (NASDAQ:HLITGet Free Report) last announced its quarterly earnings data on Monday, July 31st. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The business had revenue of $155.96 million during the quarter, compared to analyst estimates of $167.27 million. Harmonic had a return on equity of 11.78% and a net margin of 3.40%. On average, analysts expect that Harmonic will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Harmonic

Hedge funds and other institutional investors have recently bought and sold shares of the business. Chartwell Investment Partners LLC acquired a new stake in Harmonic during the 1st quarter worth $389,000. Credit Suisse AG raised its holdings in Harmonic by 2.4% during the first quarter. Credit Suisse AG now owns 124,022 shares of the communications equipment provider’s stock worth $1,809,000 after acquiring an additional 2,870 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of Harmonic during the 4th quarter worth approximately $244,000. State of Alaska Department of Revenue boosted its holdings in shares of Harmonic by 2.4% in the 1st quarter. State of Alaska Department of Revenue now owns 75,238 shares of the communications equipment provider’s stock valued at $1,097,000 after buying an additional 1,766 shares during the last quarter. Finally, Emerald Advisers LLC bought a new position in shares of Harmonic in the first quarter valued at $1,981,000. 99.38% of the stock is owned by institutional investors.

About Harmonic

(Get Free Report)

Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Broadband. The Video segment sells video processing, production, and playout solutions and services to broadband operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies.

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