Harmonic Inc (NASDAQ:HLIT) has been given a consensus recommendation of “Buy” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $7.08.
HLIT has been the topic of several recent research reports. Zacks Investment Research upgraded Harmonic from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a research report on Friday, January 11th. BidaskClub raised Harmonic from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 30th.
HLIT stock opened at $5.32 on Thursday. The company has a current ratio of 1.44, a quick ratio of 1.25 and a debt-to-equity ratio of 0.56. The firm has a market cap of $459.93 million, a price-to-earnings ratio of 177.33 and a beta of 0.85. Harmonic has a fifty-two week low of $2.90 and a fifty-two week high of $6.32.
Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Monday, February 4th. The communications equipment provider reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.06. The firm had revenue of $113.60 million for the quarter, compared to analysts’ expectations of $113.13 million. Harmonic had a negative return on equity of 0.08% and a negative net margin of 5.21%. The business’s revenue was up 12.4% compared to the same quarter last year. As a group, equities analysts expect that Harmonic will post -0.05 EPS for the current fiscal year.
In other news, Director Susan Swenson sold 30,000 shares of the stock in a transaction on Friday, December 14th. The stock was sold at an average price of $5.18, for a total transaction of $155,400.00. Following the sale, the director now directly owns 152,444 shares of the company’s stock, valued at approximately $789,659.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in shares of Harmonic by 11.3% during the 4th quarter. SG Americas Securities LLC now owns 19,690 shares of the communications equipment provider’s stock worth $93,000 after purchasing an additional 1,993 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Harmonic by 1.0% during the 4th quarter. Victory Capital Management Inc. now owns 275,800 shares of the communications equipment provider’s stock worth $1,302,000 after purchasing an additional 2,600 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of Harmonic by 4.8% during the 4th quarter. Texas Permanent School Fund now owns 56,734 shares of the communications equipment provider’s stock worth $268,000 after purchasing an additional 2,603 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Harmonic during the 4th quarter worth $32,000. Finally, Arizona State Retirement System grew its holdings in shares of Harmonic by 7.0% during the 4th quarter. Arizona State Retirement System now owns 133,514 shares of the communications equipment provider’s stock worth $630,000 after purchasing an additional 8,714 shares in the last quarter. 87.10% of the stock is currently owned by institutional investors.
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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