Brokerages Set Harmonic Inc. (NASDAQ:HLIT) PT at $14.75

Shares of Harmonic Inc. (NASDAQ:HLIT) have received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $14.75.

A number of equities analysts recently weighed in on the stock. Northland Securities lowered their price target on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Raymond James downgraded Harmonic from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $17.00 to $14.00 in a research report on Tuesday, October 29th. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Harmonic in a report on Tuesday, October 29th. Barclays lowered Harmonic from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $17.00 to $14.00 in a report on Thursday, January 9th. Finally, Rosenblatt Securities dropped their price objective on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, October 29th.

Institutional Investors Weigh In On Harmonic

A number of institutional investors and hedge funds have recently modified their holdings of HLIT. Stanley Laman Group Ltd. boosted its stake in shares of Harmonic by 0.9% during the 4th quarter. Stanley Laman Group Ltd. now owns 322,353 shares of the communications equipment provider’s stock worth $4,265,000 after purchasing an additional 2,742 shares during the last quarter. Entropy Technologies LP acquired a new stake in Harmonic during the fourth quarter worth approximately $146,000. Yorktown Management & Research Co Inc purchased a new stake in Harmonic in the 4th quarter worth approximately $344,000. KBC Group NV grew its stake in Harmonic by 84.8% in the 4th quarter. KBC Group NV now owns 6,295 shares of the communications equipment provider’s stock worth $83,000 after acquiring an additional 2,888 shares during the period. Finally, Inspire Investing LLC lifted its stake in shares of Harmonic by 6.9% during the 4th quarter. Inspire Investing LLC now owns 30,154 shares of the communications equipment provider’s stock worth $399,000 after purchasing an additional 1,944 shares during the period. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Stock Performance

Shares of HLIT opened at $11.35 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29. The firm has a market cap of $1.32 billion, a PE ratio of 15.55 and a beta of 0.91. The stock has a fifty day moving average price of $12.81 and a 200-day moving average price of $13.18. Harmonic has a 12 month low of $9.10 and a 12 month high of $15.46.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.09. Harmonic had a return on equity of 7.56% and a net margin of 13.62%. The business had revenue of $195.80 million during the quarter, compared to analysts’ expectations of $181.77 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The company’s revenue for the quarter was up 53.9% on a year-over-year basis. Equities research analysts predict that Harmonic will post 0.52 earnings per share for the current fiscal year.

About Harmonic

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.