Harmonic (NASDAQ:HLIT) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Harmonic (NASDAQ:HLIT) from a hold rating to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Northland Securities set a $15.00 price objective on shares of Harmonic in a research note on Tuesday, May 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $20.00 price objective on shares of Harmonic in a research note on Monday, June 15th. Needham & Company LLC boosted their target price on Harmonic from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Jefferies Financial Group restated a “hold” rating and set a $15.00 price target on shares of Harmonic in a research report on Tuesday, May 12th. Finally, Weiss Ratings upgraded Harmonic from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $16.60.

Harmonic Stock Performance

NASDAQ:HLIT opened at $14.90 on Thursday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -40.27 and a beta of 1.32. The business has a 50 day moving average of $13.40 and a 200 day moving average of $11.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.27 and a quick ratio of 2.03. Harmonic has a 1-year low of $7.80 and a 1-year high of $17.68.

Insider Activity

In other news, Director Stephanie Copeland sold 4,300 shares of Harmonic stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $13.30, for a total transaction of $57,190.00. Following the sale, the director owned 20,752 shares of the company’s stock, valued at approximately $276,001.60. The trade was a 17.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Neven Haltmayer sold 31,766 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $13.24, for a total transaction of $420,581.84. Following the completion of the transaction, the senior vice president directly owned 133,924 shares of the company’s stock, valued at approximately $1,773,153.76. The trade was a 19.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.74% of the company’s stock.

Institutional Trading of Harmonic

Several hedge funds have recently bought and sold shares of HLIT. iSAM Funds UK Ltd bought a new position in shares of Harmonic in the third quarter worth about $49,000. Global Retirement Partners LLC grew its stake in shares of Harmonic by 23,193.5% during the 4th quarter. Global Retirement Partners LLC now owns 7,221 shares of the communications equipment provider’s stock valued at $71,000 after acquiring an additional 7,190 shares during the period. KBC Group NV increased its holdings in Harmonic by 130.7% in the 4th quarter. KBC Group NV now owns 7,476 shares of the communications equipment provider’s stock worth $74,000 after acquiring an additional 4,236 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Harmonic in the 1st quarter worth approximately $75,000. Finally, Royal Bank of Canada raised its position in shares of Harmonic by 64.6% during the 4th quarter. Royal Bank of Canada now owns 7,645 shares of the communications equipment provider’s stock valued at $75,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 99.38% of the company’s stock.

Harmonic Company Profile

Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high?quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real?time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic’s product lines include cable edge QAM modules and set?top video processing platforms for traditional pay?TV operators, alongside cloud?native software for over?the?top (OTT) delivery, origin servers and content delivery network (CDN) services.