Harmonic (NASDAQ:HLIT) had its target price hoisted by Stifel Nicolaus from $7.00 to $10.00 in a report released on Wednesday, The Fly reports. The firm currently has a buy rating on the communications equipment provider’s stock.
HLIT has been the topic of a number of other reports. Raymond James restated a hold rating on shares of Broadcom in a research note on Friday, June 14th. Northland Securities upgraded Akoustis Technologies from a market perform rating to an outperform rating in a research note on Wednesday. Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. Finally, BidaskClub cut Zebra Technologies from a hold rating to a sell rating in a research note on Friday, May 24th. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $7.54.
HLIT opened at $7.68 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.35 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $5.63. Harmonic has a one year low of $4.25 and a one year high of $7.85. The firm has a market capitalization of $681.95 million, a PE ratio of 256.00 and a beta of 0.90.
Harmonic (NASDAQ:HLIT) last released its quarterly earnings results on Monday, April 29th. The communications equipment provider reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Harmonic had a negative return on equity of 0.08% and a negative net margin of 4.74%. The company had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $85.52 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. The firm’s revenue was down 11.1% compared to the same quarter last year. As a group, equities analysts predict that Harmonic will post -0.08 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its stake in Harmonic by 113.1% during the first quarter. BNP Paribas Arbitrage SA now owns 18,481 shares of the communications equipment provider’s stock worth $100,000 after purchasing an additional 9,807 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Harmonic by 293.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 24,239 shares of the communications equipment provider’s stock worth $114,000 after acquiring an additional 18,086 shares during the period. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Harmonic during the fourth quarter worth $117,000. Menta Capital LLC increased its position in shares of Harmonic by 38.0% during the first quarter. Menta Capital LLC now owns 25,775 shares of the communications equipment provider’s stock worth $140,000 after acquiring an additional 7,100 shares during the period. Finally, Everence Capital Management Inc. increased its position in shares of Harmonic by 117.4% during the first quarter. Everence Capital Management Inc. now owns 31,980 shares of the communications equipment provider’s stock worth $173,000 after acquiring an additional 17,270 shares during the period. Institutional investors own 88.72% of the company’s stock.
Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.
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