Shares of Harmonic Inc (NASDAQ:HLIT) have earned an average rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $5.33.
A number of equities analysts have recently weighed in on HLIT shares. Northland Securities set a $6.00 price target on Harmonic and gave the stock a “buy” rating in a report on Tuesday, October 17th. Zacks Investment Research cut Harmonic from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Dougherty & Co reissued a “buy” rating and issued a $6.50 price target on shares of Harmonic in a report on Monday, October 23rd. ValuEngine raised Harmonic from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Finally, BidaskClub raised Harmonic from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th.
Harmonic (HLIT) opened at $3.45 on Friday. Harmonic has a 1-year low of $2.80 and a 1-year high of $6.18. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 0.56.
In other news, insider Neven Haltmayer sold 8,311 shares of Harmonic stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $3.81, for a total value of $31,664.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Bart Spriester sold 8,004 shares of Harmonic stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $3.81, for a total value of $30,495.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,156 shares of company stock valued at $84,414. Company insiders own 4.27% of the company’s stock.
Large investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its position in shares of Harmonic by 193.7% in the fourth quarter. SG Americas Securities LLC now owns 36,761 shares of the communications equipment provider’s stock valued at $154,000 after purchasing an additional 24,244 shares during the period. Voya Investment Management LLC grew its position in shares of Harmonic by 12.1% in the second quarter. Voya Investment Management LLC now owns 43,910 shares of the communications equipment provider’s stock valued at $231,000 after purchasing an additional 4,742 shares during the period. Thrivent Financial For Lutherans grew its position in shares of Harmonic by 7.3% in the second quarter. Thrivent Financial For Lutherans now owns 48,530 shares of the communications equipment provider’s stock valued at $255,000 after purchasing an additional 3,300 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Harmonic by 41.0% in the third quarter. BNP Paribas Arbitrage SA now owns 49,992 shares of the communications equipment provider’s stock valued at $152,000 after purchasing an additional 14,536 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Harmonic in the third quarter valued at $190,000. 96.07% of the stock is owned by institutional investors and hedge funds.
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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