ValuEngine upgraded shares of Harmonic (NASDAQ:HLIT) from a buy rating to a strong-buy rating in a research note published on Thursday morning, ValuEngine reports.

A number of other research firms have also issued reports on HLIT. BidaskClub lowered Zebra Technologies from a hold rating to a sell rating in a report on Friday, May 24th. Raymond James reissued a hold rating on shares of Broadcom in a report on Friday, June 14th. Stifel Nicolaus raised their price target on Harmonic from $7.00 to $10.00 and gave the stock a buy rating in a report on Wednesday. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Finally, Northland Securities raised Akoustis Technologies from a market perform rating to an outperform rating in a report on Wednesday. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Harmonic presently has an average rating of Buy and a consensus price target of $7.54.

Shares of HLIT stock opened at $7.68 on Thursday. The business’s 50-day moving average price is $5.63. The stock has a market capitalization of $681.95 million, a price-to-earnings ratio of 256.00 and a beta of 0.90. Harmonic has a 1 year low of $4.25 and a 1 year high of $7.85. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.13 and a current ratio of 1.35.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings results on Monday, April 29th. The communications equipment provider reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.01. Harmonic had a negative return on equity of 0.08% and a negative net margin of 4.74%. The firm had revenue of $80.10 million for the quarter, compared to analyst estimates of $85.52 million. During the same quarter last year, the company posted ($0.01) earnings per share. The business’s revenue was down 11.1% on a year-over-year basis. On average, research analysts forecast that Harmonic will post -0.08 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HLIT. Texas Permanent School Fund lifted its position in Harmonic by 4.8% in the fourth quarter. Texas Permanent School Fund now owns 56,734 shares of the communications equipment provider’s stock valued at $268,000 after purchasing an additional 2,603 shares during the period. Arizona State Retirement System lifted its position in Harmonic by 2.5% in the first quarter. Arizona State Retirement System now owns 136,799 shares of the communications equipment provider’s stock valued at $741,000 after purchasing an additional 3,285 shares during the period. Comerica Bank lifted its position in Harmonic by 6.1% in the first quarter. Comerica Bank now owns 87,760 shares of the communications equipment provider’s stock valued at $499,000 after purchasing an additional 5,063 shares during the period. Rhumbline Advisers lifted its position in Harmonic by 2.4% in the first quarter. Rhumbline Advisers now owns 258,281 shares of the communications equipment provider’s stock valued at $1,400,000 after purchasing an additional 5,973 shares during the period. Finally, Menta Capital LLC lifted its position in Harmonic by 38.0% in the first quarter. Menta Capital LLC now owns 25,775 shares of the communications equipment provider’s stock valued at $140,000 after purchasing an additional 7,100 shares during the period. 88.72% 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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