Analysts Set Harmonic Inc. (NASDAQ:HLIT) Target Price at $15.25

Harmonic Inc. (NASDAQ:HLIT) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $15.25.

Several analysts have recently weighed in on HLIT shares. Raymond James cut shares of Harmonic from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $17.00 to $14.00 in a research report on Tuesday, October 29th. Jefferies Financial Group downgraded Harmonic from a “buy” rating to a “hold” rating and lowered their price target for the company from $14.00 to $12.50 in a research report on Tuesday, October 29th. Northland Securities dropped their price target on Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Rosenblatt Securities reduced their price objective on Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Harmonic in a research report on Tuesday, October 29th.

Institutional Investors Weigh In On Harmonic

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in Harmonic by 117.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 1,323 shares during the last quarter. CWM LLC boosted its stake in shares of Harmonic by 274.2% during the third quarter. CWM LLC now owns 8,439 shares of the communications equipment provider’s stock valued at $123,000 after purchasing an additional 6,184 shares during the period. iSAM Funds UK Ltd purchased a new stake in shares of Harmonic during the third quarter valued at approximately $166,000. Captrust Financial Advisors grew its holdings in shares of Harmonic by 14.9% in the third quarter. Captrust Financial Advisors now owns 12,671 shares of the communications equipment provider’s stock worth $185,000 after purchasing an additional 1,647 shares during the last quarter. Finally, Versor Investments LP purchased a new position in shares of Harmonic in the third quarter worth $227,000. Institutional investors own 99.38% of the company’s stock.

Harmonic Price Performance

Shares of NASDAQ HLIT opened at $13.24 on Friday. The stock’s 50-day simple moving average is $12.70 and its two-hundred day simple moving average is $13.15. Harmonic has a twelve month low of $9.10 and a twelve month high of $15.46. The firm has a market capitalization of $1.54 billion, a P/E ratio of 18.14 and a beta of 0.91. The company has a quick ratio of 1.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.29.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.09. The company had revenue of $195.80 million for the quarter, compared to analysts’ expectations of $181.77 million. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. Harmonic’s revenue for the quarter was up 53.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) earnings per share. As a group, equities analysts anticipate that Harmonic will post 0.52 EPS 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.