Shares of Harmonic Inc (NASDAQ:HLIT) have earned a consensus rating of “Buy” from the nine brokerages that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $7.65.

Several brokerages have commented on HLIT. Stifel Nicolaus raised their price objective on Harmonic from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. BidaskClub downgraded Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 13th. ValuEngine upgraded Zillow Group from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Northland Securities upgraded Akoustis Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 10th. Finally, Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd.

Several hedge funds have recently bought and sold shares of HLIT. BlackRock Inc. grew its stake in Harmonic by 2.4% during the 4th quarter. BlackRock Inc. now owns 12,518,886 shares of the communications equipment provider’s stock worth $59,090,000 after purchasing an additional 291,645 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Harmonic by 7.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,020,048 shares of the communications equipment provider’s stock worth $4,815,000 after purchasing an additional 68,150 shares in the last quarter. Geode Capital Management LLC grew its stake in Harmonic by 12.6% during the 4th quarter. Geode Capital Management LLC now owns 993,588 shares of the communications equipment provider’s stock worth $4,689,000 after purchasing an additional 111,561 shares in the last quarter. Victory Capital Management Inc. grew its stake in Harmonic by 36.7% during the 1st quarter. Victory Capital Management Inc. now owns 376,980 shares of the communications equipment provider’s stock worth $2,043,000 after purchasing an additional 101,180 shares in the last quarter. Finally, Boston Advisors LLC grew its stake in Harmonic by 51.2% during the 1st quarter. Boston Advisors LLC now owns 371,104 shares of the communications equipment provider’s stock worth $2,011,000 after purchasing an additional 125,660 shares in the last quarter. Hedge funds and other institutional investors own 88.72% of the company’s stock.

HLIT stock traded down $0.06 during trading on Friday, hitting $7.71. 754,793 shares of the company traded hands, compared to its average volume of 1,301,721. The stock’s 50-day moving average is $5.97. The company has a current ratio of 1.35, a quick ratio of 1.13 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $684.61 million, a P/E ratio of 257.00 and a beta of 0.90. Harmonic has a 1 year low of $4.25 and a 1 year high of $8.09.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings results on Monday, April 29th. The communications equipment provider reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $80.10 million during the quarter, compared to analysts’ expectations of $85.52 million. Harmonic had a negative return on equity of 0.08% and a negative net margin of 4.74%. Harmonic’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period last year, the business earned ($0.01) earnings per share. Research analysts predict that Harmonic will post -0.05 earnings per share for the current year.

Harmonic Company Profile

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.

See Also: What does the Producer Price Index (PPI) tell investors?

Analyst Recommendations for Harmonic (NASDAQ:HLIT)

Receive News & Ratings for Harmonic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmonic and related companies with MarketBeat.com's FREE daily email newsletter.