Harmonic (NASDAQ:HLIT) Stock Gets Price Target Trim from Barclays

by · The Cerbat Gem

Harmonic (NASDAQ:HLIT – Free Report) had its price objective lowered by Barclays from $16.00 to $14.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the communications equipment provider’s stock.

HLIT has been the subject of several other reports. Zacks Research downgraded Harmonic from a “strong-buy” rating to a “hold” rating in a report on Friday, July 24th. Northland Securities set a $17.00 price objective on shares of Harmonic in a research note on Thursday, August 13th. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Harmonic in a research note on Thursday, October 29th. Weiss Ratings upgraded shares of Harmonic from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen cut shares of Harmonic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.83.

Read Our Latest Stock Report on HLIT

Harmonic Stock Performance

NASDAQ HLIT opened at $9.31 on Tuesday. The firm has a market cap of $1.02 billion, a P/E ratio of 20.84 and a beta of 1.37. Harmonic has a 52-week low of $8.47 and a 52-week high of $17.68. The business’s 50-day moving average price is $10.98 and its 200 day moving average price is $11.57. The company has a quick ratio of 2.56, a current ratio of 2.43 and a debt-to-equity ratio of 0.09.

Harmonic (NASDAQ:HLIT – Get Free Report) last posted its quarterly earnings data on Monday, November 2nd. The communications equipment provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. Harmonic had a positive return on equity of 14.73% and a negative net margin of 6.27%. The firm had revenue of $148.84 million during the quarter, compared to the consensus estimate of $129.47 million. During the same period in the prior year, the business earned $0.12 EPS. The firm’s revenue was up 64.5% compared to the same quarter last year. On average, equities research analysts expect that Harmonic will post 0.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HLIT. Nykredit A S acquired a new stake in Harmonic in the 2nd quarter valued at about $36,000. Integrated Wealth Concepts LLC acquired a new position in Harmonic during the second quarter worth about $47,000. Northwestern Mutual Wealth Management Co. acquired a new position in Harmonic during the second quarter worth about $49,000. Sterling Capital Management LLC lifted its holdings in shares of Harmonic by 847.4% in the third quarter. Sterling Capital Management LLC now owns 3,695 shares of the communications equipment provider’s stock valued at $39,000 after purchasing an additional 3,305 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in shares of Harmonic in the second quarter valued at about $105,000. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Harmonic Company Profile

(Get Free Report)

Harmonic Inc (NASDAQ: HLIT) develops broadband access and video-delivery technologies for communications service providers, content providers and broadcasters. Its solutions help operators deliver high-speed internet, television and streaming services across cable, fiber and other network infrastructures.

The company’s broadband portfolio includes its CableOS platform, a software-based solution designed to support virtualized broadband access networks, along with technologies for DOCSIS, fiber and hybrid fiber-coaxial networks.

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