Harmonic’s (HLIT) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Harmonic (NASDAQ:HLIT) in a research note issued to investors on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a $14.00 price objective on the communications equipment provider’s stock.

HLIT has been the topic of several other research reports. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of Harmonic in a report on Tuesday, December 9th. Barclays raised their price target on Harmonic from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Harmonic in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.33.

Harmonic Trading Up 5.2%

Harmonic stock opened at $10.68 on Thursday. Harmonic has a one year low of $7.80 and a one year high of $11.49. The business’s fifty day moving average is $10.10 and its 200 day moving average is $9.88. The stock has a market capitalization of $1.20 billion, a PE ratio of 25.43 and a beta of 1.05. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.08 and a quick ratio of 1.64.

Insider Transactions at Harmonic

In other news, SVP Neven Haltmayer sold 23,835 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $10.41, for a total transaction of $248,122.35. Following the sale, the senior vice president directly owned 149,570 shares in the company, valued at $1,557,023.70. This trade represents a 13.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Krall bought 47,528 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were purchased at an average price of $10.50 per share, for a total transaction of $499,044.00. Following the purchase, the director owned 223,125 shares in the company, valued at $2,342,812.50. This represents a 27.07% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.21% of the stock is owned by insiders.

Institutional Trading of Harmonic

Institutional investors and hedge funds have recently bought and sold shares of the stock. iSAM Funds UK Ltd purchased a new position in shares of Harmonic during the 3rd quarter worth about $49,000. McIlrath & Eck LLC bought a new stake in Harmonic in the third quarter worth about $57,000. Global Retirement Partners LLC boosted its position in shares of Harmonic by 23,193.5% during the fourth quarter. Global Retirement Partners LLC now owns 7,221 shares of the communications equipment provider’s stock valued at $71,000 after buying an additional 7,190 shares during the period. KBC Group NV grew its stake in shares of Harmonic by 130.7% during the fourth quarter. KBC Group NV now owns 7,476 shares of the communications equipment provider’s stock valued at $74,000 after buying an additional 4,236 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Harmonic by 23,297.5% in the third quarter. Russell Investments Group Ltd. now owns 9,359 shares of the communications equipment provider’s stock worth $95,000 after buying an additional 9,319 shares during the period. 99.38% of the stock is currently owned by institutional investors.

Harmonic Company Profile

Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic’s product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.