Harmonic Inc. (NASDAQ:HLIT) Receives $14.75 Consensus Target Price from Analysts

Harmonic Inc. (NASDAQ:HLIT) has been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $14.75.

HLIT has been the topic of a number of recent research reports. Barclays downgraded Harmonic from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $17.00 to $14.00 in a research note on Thursday, January 9th. Raymond James downgraded Harmonic from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $17.00 to $14.00 in a report on Tuesday, October 29th. Jefferies Financial Group cut shares of Harmonic from a “buy” rating to a “hold” rating and reduced their target price for the company from $14.00 to $12.50 in a research note on Tuesday, October 29th. Needham & Company LLC restated a “buy” rating and set a $18.00 price target on shares of Harmonic in a research note on Tuesday, October 29th. Finally, Rosenblatt Securities reduced their price objective on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th.

Harmonic Trading Down 0.6 %

Harmonic stock opened at $11.28 on Tuesday. Harmonic has a 12 month low of $9.10 and a 12 month high of $15.46. The company has a quick ratio of 1.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.31 billion, a P/E ratio of 15.45 and a beta of 0.91. The company’s fifty day simple moving average is $12.78 and its 200-day simple moving average is $13.17.

Institutional Trading of Harmonic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC boosted its position in shares of Harmonic by 40.3% in the third quarter. Jane Street Group LLC now owns 201,386 shares of the communications equipment provider’s stock valued at $2,934,000 after acquiring an additional 57,888 shares during the period. Baker Avenue Asset Management LP bought a new stake in Harmonic in the 3rd quarter valued at $833,000. Lisanti Capital Growth LLC bought a new stake in Harmonic in the 3rd quarter valued at $2,915,000. Geode Capital Management LLC grew its position in Harmonic by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,675,268 shares of the communications equipment provider’s stock worth $38,986,000 after purchasing an additional 17,665 shares during the last quarter. Finally, Bouvel Investment Partners LLC bought a new position in shares of Harmonic during the 3rd quarter worth about $1,756,000. Institutional investors and hedge funds own 99.38% of the company’s stock.

Harmonic Company Profile

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.