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

Shares of Harmonic Inc. (NASDAQ:HLIT) have been given a consensus rating of “Hold” by the six ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $16.60.

HLIT has been the subject of several analyst reports. Barclays increased their price target on shares of Harmonic from $11.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Wall Street Zen raised shares of Harmonic from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Needham & Company LLC increased their price target on shares of Harmonic from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Northland Securities set a $15.00 price target on shares of Harmonic in a research report on Tuesday, May 12th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $20.00 price target on shares of Harmonic in a research report on Monday.

Insider Activity

In other Harmonic news, Director Stephanie Copeland sold 4,300 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $13.30, for a total transaction of $57,190.00. Following the completion of the sale, the director directly owned 20,752 shares of the company’s stock, valued at approximately $276,001.60. This represents a 17.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Neven Haltmayer sold 31,766 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $13.24, for a total transaction of $420,581.84. Following the sale, the senior vice president directly owned 133,924 shares of the company’s stock, valued at approximately $1,773,153.76. The trade was a 19.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.74% of the company’s stock.

Institutional Trading of Harmonic

Hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in shares of Harmonic by 7.4% during the third quarter. PNC Financial Services Group Inc. now owns 16,926 shares of the communications equipment provider’s stock valued at $172,000 after acquiring an additional 1,162 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Harmonic by 2.0% during the first quarter. Sei Investments Co. now owns 70,742 shares of the communications equipment provider’s stock valued at $635,000 after acquiring an additional 1,383 shares in the last quarter. Aristides Capital LLC increased its holdings in shares of Harmonic by 7.2% during the first quarter. Aristides Capital LLC now owns 21,943 shares of the communications equipment provider’s stock valued at $197,000 after acquiring an additional 1,483 shares in the last quarter. Inspire Investing LLC increased its holdings in shares of Harmonic by 5.4% during the fourth quarter. Inspire Investing LLC now owns 47,233 shares of the communications equipment provider’s stock valued at $467,000 after acquiring an additional 2,428 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of Harmonic by 6.5% during the fourth quarter. Stephens Inc. AR now owns 41,893 shares of the communications equipment provider’s stock valued at $414,000 after acquiring an additional 2,548 shares in the last quarter. 99.38% of the stock is owned by hedge funds and other institutional investors.

Harmonic Stock Down 1.8%

NASDAQ:HLIT opened at $14.80 on Friday. Harmonic has a 1-year low of $7.80 and a 1-year high of $17.68. The company has a 50-day moving average of $12.57 and a 200 day moving average of $10.87. The firm has a market cap of $1.61 billion, a PE ratio of -40.00 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.

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.