BidaskClub upgraded shares of Harmonic (NASDAQ:HLIT) from a hold rating to a buy rating in a report released on Wednesday, BidAskClub reports.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus assumed coverage on shares of Harmonic in a research note on Wednesday, February 20th. They issued a buy rating and a $7.00 price target on the stock. Needham & Company LLC assumed coverage on shares of Harmonic in a research note on Wednesday, February 13th. They issued a buy rating and a $7.00 price target on the stock. Zacks Investment Research upgraded shares of Harmonic from a hold rating to a buy rating and set a $6.00 price target on the stock in a research note on Wednesday, February 6th. Finally, ValuEngine lowered shares of Harmonic from a buy rating to a hold rating in a research note on Tuesday, February 5th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $7.05.

HLIT traded up $0.01 on Wednesday, hitting $5.70. 4,307 shares of the company’s stock were exchanged, compared to its average volume of 362,664. The firm has a market cap of $499.27 million, a price-to-earnings ratio of 189.67 and a beta of 0.88. Harmonic has a twelve month low of $3.35 and a twelve month high of $6.32. The company has a quick ratio of 1.25, a current ratio of 1.44 and a debt-to-equity ratio of 0.56.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings data on Monday, February 4th. The communications equipment provider reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.06. The firm had revenue of $113.60 million for the quarter, compared to analyst estimates of $113.13 million. Harmonic had a negative net margin of 5.21% and a negative return on equity of 0.08%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Research analysts anticipate that Harmonic will post -0.05 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of HLIT. BlackRock Inc. boosted its holdings in shares of Harmonic by 6.4% in the third quarter. BlackRock Inc. now owns 12,227,241 shares of the communications equipment provider’s stock valued at $67,249,000 after acquiring an additional 732,920 shares in the last quarter. Boston Advisors LLC bought a new position in shares of Harmonic in the fourth quarter valued at approximately $1,158,000. Oregon Public Employees Retirement Fund bought a new position in shares of Harmonic in the fourth quarter valued at approximately $33,000. Renaissance Technologies LLC boosted its holdings in shares of Harmonic by 122.4% in the third quarter. Renaissance Technologies LLC now owns 264,227 shares of the communications equipment provider’s stock valued at $1,453,000 after acquiring an additional 145,400 shares in the last quarter. Finally, Vanguard Group Inc boosted its holdings in shares of Harmonic by 2.4% in the third quarter. Vanguard Group Inc now owns 5,216,147 shares of the communications equipment provider’s stock valued at $28,689,000 after acquiring an additional 121,411 shares in the last quarter. Institutional investors and hedge funds own 85.18% of the company’s stock.

About Harmonic

Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.

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Analyst Recommendations for Harmonic (NASDAQ:HLIT)

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