Harmonic Inc. (NASDAQ:HLIT) Given Average Rating of “Hold” by Analysts

Harmonic Inc. (NASDAQ:HLIT) has been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $16.60.

A number of brokerages have issued reports on HLIT. Jefferies Financial Group restated a “hold” rating and issued a $15.00 price objective on shares of Harmonic in a research note on Tuesday, May 12th. Wall Street Zen upgraded Harmonic from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Northland Securities set a $15.00 price objective on Harmonic in a research note on Tuesday, May 12th. Needham & Company LLC increased their price objective on Harmonic from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Barclays raised their target price on Harmonic from $11.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th.

Insiders Place Their Bets

In other news, Director Stephanie Copeland sold 4,300 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $13.30, for a total transaction of $57,190.00. Following the transaction, the director owned 20,752 shares of the company’s stock, valued at $276,001.60. This represents a 17.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Neven Haltmayer sold 31,766 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $13.24, for a total value of $420,581.84. Following the transaction, the senior vice president directly owned 133,924 shares in the company, valued at $1,773,153.76. This represents a 19.17% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.74% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Amundi lifted its position in shares of Harmonic by 68.5% during the 1st quarter. Amundi now owns 52,167 shares of the communications equipment provider’s stock valued at $468,000 after buying an additional 21,205 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Harmonic by 16.9% during the 1st quarter. California State Teachers Retirement System now owns 126,667 shares of the communications equipment provider’s stock valued at $1,137,000 after buying an additional 18,318 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Harmonic by 17.7% during the 1st quarter. Quantinno Capital Management LP now owns 32,605 shares of the communications equipment provider’s stock valued at $293,000 after buying an additional 4,910 shares during the last quarter. Gateway Wealth Partners LLC purchased a new position in shares of Harmonic during the 1st quarter valued at $90,000. Finally, Renaissance Technologies LLC lifted its position in shares of Harmonic by 120.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,052,927 shares of the communications equipment provider’s stock valued at $9,455,000 after buying an additional 575,800 shares during the last quarter. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Harmonic Stock Up 7.5%

Shares of NASDAQ:HLIT opened at $14.51 on Friday. The company has a market capitalization of $1.57 billion, a PE ratio of -39.22 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.27 and a quick ratio of 2.03. The business has a fifty day moving average price of $12.22 and a two-hundred day moving average price of $10.75. Harmonic has a 1 year low of $7.80 and a 1 year high of $17.68.

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.