ValuEngine upgraded shares of Harmonic (NASDAQ:HLIT) from a hold rating to a buy rating in a research report sent to investors on Friday, ValuEngine reports.

Several other equities analysts have also commented on HLIT. Barclays assumed coverage on Harmonic in a report on Friday, May 22nd. They issued an equal weight rating and a $6.00 target price on the stock. Northland Securities dropped their price objective on Harmonic from $9.00 to $7.25 and set an outperform rating on the stock in a report on Tuesday, April 28th. JPMorgan Chase & Co. lowered Harmonic from an overweight rating to a neutral rating and dropped their price objective for the stock from $7.50 to $6.00 in a report on Monday, June 1st. BidaskClub lowered Harmonic from a sell rating to a strong sell rating in a report on Tuesday, June 16th. Finally, Zacks Investment Research raised Harmonic from a strong sell rating to a hold rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $7.38.

NASDAQ:HLIT opened at $4.66 on Friday. The firm has a market capitalization of $461.65 million, a PE ratio of -25.89 and a beta of 0.76. The business’s fifty day moving average price is $5.14 and its 200 day moving average price is $6.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.18 and a quick ratio of 1.00. Harmonic has a 12 month low of $4.44 and a 12 month high of $8.57.

Harmonic (NASDAQ:HLIT) last posted its earnings results on Monday, April 27th. The communications equipment provider reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $78.40 million during the quarter, compared to analysts’ expectations of $85.02 million. Harmonic had a negative net margin of 4.13% and a positive return on equity of 3.34%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company earned ($0.05) EPS. As a group, equities analysts anticipate that Harmonic will post -0.38 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zebra Capital Management LLC purchased a new position in shares of Harmonic during the first quarter worth about $62,000. Canandaigua National Corp purchased a new position in shares of Harmonic during the second quarter worth about $63,000. Aperio Group LLC purchased a new position in shares of Harmonic during the first quarter worth about $64,000. Magnetar Financial LLC purchased a new position in shares of Harmonic during the fourth quarter worth about $81,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Harmonic during the first quarter worth about $95,000. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Harmonic (NASDAQ:HLIT)

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