Harmonic Coverage Initiated by Analysts at Merrill Lynch (HLIT)
Research analysts at Merrill Lynch initiated coverage on shares of Harmonic (NYSE:HLIT) in a report released on Tuesday, American Banking News.com reports. The firm set a “buy” rating on the stock.
Separately, analysts at Raymond James downgraded shares of Harmonic from a “market perform” rating to an “underperform” rating in a research note to investors on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $7.00.
Harmonic (NYSE:HLIT) traded up 2.60% during mid-day trading on Tuesday, hitting $6.71. 646,140 shares of the company’s stock traded hands. Harmonic has a 52-week low of $4.85 and a 52-week high of $8.25. The stock has a 50-day moving average of $7.19 and a 200-day moving average of $7.40. The company has a market cap of $676.4 million and a P/E ratio of 16.31.
Harmonic Inc (NYSE:HLIT) designs, manufactures and sells video products and system solutions that enable service providers to deliver the broadcast and on-demand services, including high-definition television (HDTV), video-on-demand (VOD), network personal video recording and time-shifted television.
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