Harmonic Inc. (NASDAQ:HLIT) has been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $5.06.

HLIT has been the subject of a number of research reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $4.00 target price (up previously from $3.50) on shares of Harmonic in a report on Tuesday, August 1st. ValuEngine downgraded Harmonic from a “hold” rating to a “sell” rating in a report on Friday, August 4th. TheStreet downgraded Harmonic from a “c-” rating to a “d+” rating in a report on Wednesday, August 9th. Zacks Investment Research raised Harmonic from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, Northland Securities set a $6.00 target price on Harmonic and gave the stock a “buy” rating in a report on Tuesday, October 17th.

In other news, SVP Bart Spriester sold 8,004 shares of Harmonic stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $3.81, for a total value of $30,495.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Neven Haltmayer sold 8,311 shares of Harmonic stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $3.81, for a total value of $31,664.91. The disclosure for this sale can be found here. Insiders sold 25,933 shares of company stock valued at $98,389 over the last 90 days. Company insiders own 5.53% of the company’s stock.

Large investors have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan boosted its stake in shares of Harmonic by 5.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 19,030 shares of the communications equipment provider’s stock worth $100,000 after acquiring an additional 1,010 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Harmonic in the second quarter worth approximately $142,000. Louisiana State Employees Retirement System boosted its stake in shares of Harmonic by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 32,800 shares of the communications equipment provider’s stock worth $172,000 after acquiring an additional 300 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Harmonic by 36.3% in the second quarter. BNP Paribas Arbitrage SA now owns 35,456 shares of the communications equipment provider’s stock worth $186,000 after acquiring an additional 9,437 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Harmonic in the first quarter worth approximately $227,000. 94.17% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Harmonic (NASDAQ HLIT) opened at $4.15 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.20 and a quick ratio of 0.99. Harmonic has a twelve month low of $2.80 and a twelve month high of $6.18.

Harmonic (NASDAQ:HLIT) last released its earnings results on Monday, October 30th. The communications equipment provider reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.07. Harmonic had a negative return on equity of 13.06% and a negative net margin of 22.02%. The firm had revenue of $92.00 million during the quarter, compared to the consensus estimate of $85.63 million. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company’s revenue was down 9.3% compared to the same quarter last year. equities analysts anticipate that Harmonic will post -0.51 EPS for the current fiscal year.

Harmonic Company Profile

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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