Harmonic’s (HLIT) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Harmonic (NASDAQ:HLIT) in a research report report published on Tuesday,Benzinga reports. Rosenblatt Securities currently has a $16.00 price target on the communications equipment provider’s stock.

A number of other equities analysts have also commented on HLIT. Raymond James lowered shares of Harmonic from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $17.00 to $14.00 in a research report on Tuesday, October 29th. Barclays downgraded shares of Harmonic from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $17.00 to $14.00 in a research report on Thursday, January 9th. Northland Securities reduced their price target on Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Jefferies Financial Group lowered Harmonic from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $14.00 to $12.50 in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Harmonic in a report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Harmonic currently has an average rating of “Moderate Buy” and a consensus target price of $14.75.

Harmonic Stock Performance

Shares of NASDAQ HLIT opened at $11.19 on Tuesday. Harmonic has a one year low of $9.10 and a one year high of $15.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.62. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 15.33 and a beta of 0.89. The stock’s fifty day moving average price is $12.73 and its two-hundred day moving average price is $13.16.

Institutional Investors Weigh In On Harmonic

Large investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of Harmonic by 117.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 1,323 shares during the last quarter. KBC Group NV lifted its holdings in shares of Harmonic by 84.8% in the fourth quarter. KBC Group NV now owns 6,295 shares of the communications equipment provider’s stock worth $83,000 after acquiring an additional 2,888 shares during the last quarter. CWM LLC boosted its stake in shares of Harmonic by 274.2% in the 3rd quarter. CWM LLC now owns 8,439 shares of the communications equipment provider’s stock valued at $123,000 after purchasing an additional 6,184 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of Harmonic during the 4th quarter valued at approximately $146,000. Finally, iSAM Funds UK Ltd acquired a new position in Harmonic during the 3rd quarter worth approximately $166,000. Institutional investors and hedge funds own 99.38% of the company’s stock.

About Harmonic

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.