BidaskClub downgraded shares of Harmonic (NASDAQ:HLIT) from a strong-buy rating to a buy rating in a report issued on Thursday, November 8th.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Harmonic from a hold rating to a buy rating and set a $6.25 price objective for the company in a research report on Saturday, November 3rd. ValuEngine downgraded shares of Harmonic from a strong-buy rating to a buy rating in a research report on Thursday, November 1st. 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 objective for the company. Northland Securities set a $7.00 price target on shares of Harmonic and gave the company a buy rating in a research report on Thursday, August 2nd. Finally, TheStreet raised shares of Harmonic from a d rating to a c- rating in a research report on Monday, July 30th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Harmonic currently has an average rating of Buy and a consensus target price of $7.17.
Harmonic stock traded down $0.01 during mid-day trading on Thursday, hitting $5.62. 982,169 shares of the stock were exchanged, compared to its average volume of 505,026. The firm has a market cap of $487.24 million, a price-to-earnings ratio of -10.41 and a beta of 0.67. Harmonic has a 12 month low of $2.90 and a 12 month high of $6.32. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.19 and a current ratio of 1.36.
Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, October 29th. The communications equipment provider reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. The company had revenue of $101.40 million during the quarter, compared to the consensus estimate of $99.46 million. Harmonic had a negative net margin of 9.26% and a negative return on equity of 5.97%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) EPS. As a group, equities research analysts predict that Harmonic will post -0.04 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of HLIT. Manatuck Hill Partners LLC purchased a new position in Harmonic during the 2nd quarter worth $128,000. SG Americas Securities LLC purchased a new position in Harmonic during the 2nd quarter worth $138,000. Metropolitan Life Insurance Co. NY boosted its holdings in Harmonic by 112.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 36,235 shares of the communications equipment provider’s stock worth $154,000 after acquiring an additional 19,174 shares during the last quarter. Laurion Capital Management LP purchased a new position in Harmonic during the 2nd quarter worth $213,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Harmonic during the 2nd quarter worth $253,000. 87.03% of the stock is owned by institutional investors and hedge funds.
Harmonic Company Profile
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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