Several analysts have recently updated their ratings and price targets for Harmonic (NASDAQ: HLIT):

  • 8/4/2017 – Harmonic was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 8/1/2017 – Harmonic had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $4.00 price target on the stock, up previously from $3.50.
  • 7/19/2017 – Harmonic was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/18/2017 – Harmonic was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Harmonic designs, manufactures and markets digital and fiber optic systems for delivering video, voice and data services over cable, satellite, telephone, and wireless networks. The company’s advanced solutions enable cable television and other network operators to provide a range of broadcast and interactive broadband services that include high-speed Internet access, telephony and video on demand. The company offers a broad range of fiber optic transmission and digital headend products for hybrid fiber coax, satellite and wireless networks. “
  • 7/4/2017 – Harmonic was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Harmonic designs, manufactures and markets digital and fiber optic systems for delivering video, voice and data services over cable, satellite, telephone, and wireless networks. The company’s advanced solutions enable cable television and other network operators to provide a range of broadcast and interactive broadband services that include high-speed Internet access, telephony and video on demand. The company offers a broad range of fiber optic transmission and digital headend products for hybrid fiber coax, satellite and wireless networks. “

Shares of Harmonic Inc. (NASDAQ:HLIT) opened at 3.925 on Tuesday. The stock’s 50 day moving average price is $4.89 and its 200-day moving average price is $5.33. Harmonic Inc. has a 12-month low of $3.16 and a 12-month high of $6.18. The firm’s market cap is $316.62 million.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings results on Monday, July 31st. The communications equipment provider reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.02. The firm had revenue of $82.30 million for the quarter, compared to analysts’ expectations of $80.88 million. Harmonic had a negative return on equity of 13.22% and a negative net margin of 21.58%. The business’s quarterly revenue was down 24.9% compared to the same quarter last year. On average, analysts predict that Harmonic Inc. will post ($0.42) earnings per share for the current fiscal year.

In related news, CFO Harold L. Covert sold 13,172 shares of the stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $5.14, for a total transaction of $67,704.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 5.53% of the company’s stock.

Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products, and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers.

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