Shares of Harmonic Inc. (NASDAQ:HLIT – Get Free Report) have earned an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $12.33.
A number of brokerages recently commented on HLIT. Barclays restated an “underperform” rating on shares of Harmonic in a research note on Tuesday, April 29th. Needham & Company LLC restated a “buy” rating and issued a $14.00 price target on shares of Harmonic in a research report on Tuesday, April 29th. Northland Securities decreased their price objective on shares of Harmonic from $14.00 to $12.50 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Jefferies Financial Group began coverage on shares of Harmonic in a research note on Friday, February 21st. They issued a “hold” rating for the company. Finally, Wall Street Zen upgraded Harmonic from a “hold” rating to a “buy” rating in a research report on Thursday, March 27th.
Check Out Our Latest Analysis on HLIT
Institutional Trading of Harmonic
Harmonic Stock Performance
NASDAQ HLIT opened at $9.40 on Monday. The company’s fifty day moving average is $9.08 and its two-hundred day moving average is $10.82. Harmonic has a 52-week low of $7.91 and a 52-week high of $15.46. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.18 and a quick ratio of 1.80. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 28.49 and a beta of 1.03.
Harmonic (NASDAQ:HLIT – Get Free Report) last released its earnings results on Monday, April 28th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.06. The business had revenue of $133.14 million during the quarter, compared to analysts’ expectations of $127.51 million. Harmonic had a net margin of 5.78% and a return on equity of 15.90%. The business’s revenue was up 9.1% on a year-over-year basis. Equities research analysts forecast that Harmonic will post 0.31 EPS for the current year.
Harmonic announced that its board has approved a stock buyback plan on Monday, February 10th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to repurchase up to 15.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Harmonic Company Profile
Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.
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