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

Shares of Harmonic Inc. (NASDAQ:HLIT) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $14.75.

Several brokerages have recently issued reports on HLIT. Raymond James lowered Harmonic from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $17.00 to $14.00 in a research report on Tuesday, October 29th. Rosenblatt Securities decreased their target price on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Jefferies Financial Group lowered Harmonic from a “buy” rating to a “hold” rating and decreased their target price for the company from $14.00 to $12.50 in a research report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Harmonic in a research report on Tuesday, October 29th. Finally, Barclays lowered Harmonic from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $17.00 to $14.00 in a research report on Thursday, January 9th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Harmonic by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,741,998 shares of the communications equipment provider’s stock valued at $44,043,000 after buying an additional 294,922 shares in the last quarter. Geode Capital Management LLC grew its holdings in Harmonic by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,675,268 shares of the communications equipment provider’s stock valued at $38,986,000 after buying an additional 17,665 shares in the last quarter. Wasatch Advisors LP grew its holdings in Harmonic by 15.3% during the 3rd quarter. Wasatch Advisors LP now owns 1,659,823 shares of the communications equipment provider’s stock valued at $24,184,000 after buying an additional 219,685 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Harmonic by 85.1% during the third quarter. Point72 Asset Management L.P. now owns 1,208,829 shares of the communications equipment provider’s stock worth $17,613,000 after purchasing an additional 555,737 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Harmonic by 117.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,187,528 shares of the communications equipment provider’s stock worth $17,302,000 after purchasing an additional 642,033 shares in the last quarter. Institutional investors own 99.38% of the company’s stock.

Harmonic Trading Down 2.5 %

Shares of Harmonic stock opened at $11.00 on Tuesday. Harmonic has a 1 year low of $9.10 and a 1 year high of $15.46. The firm has a market cap of $1.28 billion, a PE ratio of 15.07 and a beta of 0.89. The stock has a fifty day moving average price of $12.75 and a 200-day moving average price of $13.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.62.

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.