Harmonic (NASDAQ:HLIT) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday.

Other equities analysts have also recently issued reports about the stock. Dougherty & Co restated a “buy” rating and set a $6.50 price target on shares of Harmonic in a report on Monday, October 23rd. Zacks Investment Research cut shares of Harmonic from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Northland Securities set a $6.00 price target on shares of Harmonic and gave the company a “buy” rating in a report on Tuesday, October 17th. Jefferies Group restated a “hold” rating and set a $3.50 price target on shares of Harmonic in a report on Sunday, September 10th. Finally, TheStreet cut shares of Harmonic from a “c-” rating to a “d+” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Harmonic has a consensus rating of “Hold” and a consensus price target of $5.06.

Shares of Harmonic (HLIT) traded down $0.20 during trading hours on Friday, reaching $4.00. 511,531 shares of the company’s stock traded hands, compared to its average volume of 513,917. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.20. Harmonic has a 52 week low of $2.80 and a 52 week high of $6.18.

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

In related news, insider Neven Haltmayer sold 8,311 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $3.81, for a total value of $31,664.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Bart Spriester sold 8,004 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $3.81, for a total transaction of $30,495.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,933 shares of company stock worth $98,389. 4.27% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Royce & Associates LP boosted its holdings in Harmonic by 3.1% in the second quarter. Royce & Associates LP now owns 1,170,499 shares of the communications equipment provider’s stock worth $6,145,000 after purchasing an additional 35,000 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in Harmonic by 1.0% in the second quarter. Epoch Investment Partners Inc. now owns 5,012,838 shares of the communications equipment provider’s stock worth $26,317,000 after purchasing an additional 52,062 shares in the last quarter. Northern Trust Corp boosted its holdings in Harmonic by 4.6% in the second quarter. Northern Trust Corp now owns 968,459 shares of the communications equipment provider’s stock worth $5,084,000 after purchasing an additional 42,215 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in Harmonic by 9.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 59,501 shares of the communications equipment provider’s stock worth $354,000 after purchasing an additional 4,889 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Harmonic by 3.6% in the second quarter. Vanguard Group Inc. now owns 5,803,837 shares of the communications equipment provider’s stock worth $30,470,000 after purchasing an additional 203,002 shares in the last quarter. Hedge funds and other institutional investors own 96.00% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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