Harmonic (NASDAQ:HLIT) Given Buy Rating at Rosenblatt Securities

Harmonic (NASDAQ:HLIT)‘s stock had its “buy” rating reaffirmed by analysts at Rosenblatt Securities in a note issued to investors on Tuesday,Benzinga reports. They currently have a $16.00 price objective on the communications equipment provider’s stock. Rosenblatt Securities’ price objective points to a potential upside of 45.45% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Jefferies Financial Group cut Harmonic from a “buy” rating to a “hold” rating and decreased their target price for the stock from $14.00 to $12.50 in a report on Tuesday, October 29th. Barclays downgraded Harmonic from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $17.00 to $14.00 in a report on Thursday, January 9th. Northland Securities decreased their target price on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Raymond James lowered shares of Harmonic from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $17.00 to $14.00 in a research note on Tuesday, October 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Harmonic in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.75.

Harmonic Trading Down 2.5 %

Shares of NASDAQ:HLIT opened at $11.00 on Tuesday. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 15.07 and a beta of 0.89. Harmonic has a 1-year low of $9.10 and a 1-year high of $15.46. The company has a 50 day moving average price of $12.75 and a 200 day moving average price of $13.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.08.

Hedge Funds Weigh In On Harmonic

Several institutional investors have recently modified their holdings of HLIT. Leuthold Group LLC acquired a new stake in shares of Harmonic in the 4th quarter valued at about $2,299,000. Handelsbanken Fonder AB raised its holdings in Harmonic by 2.6% in the 4th quarter. Handelsbanken Fonder AB now owns 36,100 shares of the communications equipment provider’s stock valued at $478,000 after acquiring an additional 900 shares during the period. Ieq Capital LLC bought a new stake in shares of Harmonic in the fourth quarter valued at about $279,000. Principal Financial Group Inc. increased its stake in Harmonic by 3.2% during the 4th quarter. Principal Financial Group Inc. now owns 568,187 shares of the communications equipment provider’s stock worth $7,517,000 after acquiring an additional 17,562 shares during the period. Finally, Stanley Laman Group Ltd. grew its stake in Harmonic by 0.9% during the fourth quarter. Stanley Laman Group Ltd. now owns 322,353 shares of the communications equipment provider’s stock worth $4,265,000 after buying an additional 2,742 shares in the last quarter. 99.38% of the stock is currently owned by institutional investors and hedge funds.

Harmonic Company Profile

Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.