Harmonic (NASDAQ:HLIT) Given New $18.00 Price Target at Raymond James

Harmonic (NASDAQ:HLITFree Report) had its target price decreased by Raymond James from $19.00 to $18.00 in a research note published on Tuesday morning, Benzinga reports. Raymond James currently has a strong-buy rating on the communications equipment provider’s stock.

Other research analysts have also recently issued reports about the stock. Rosenblatt Securities reaffirmed a buy rating and set a $18.00 target price on shares of Harmonic in a report on Friday, December 29th. StockNews.com raised shares of Harmonic from a sell rating to a hold rating in a report on Tuesday, October 31st. Needham & Company LLC reaffirmed a buy rating and set a $18.00 target price on shares of Harmonic in a report on Wednesday, December 20th. Finally, Barclays lowered their target price on shares of Harmonic from $20.00 to $14.00 and set an overweight rating on the stock in a report on Wednesday, November 1st. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Harmonic has an average rating of Buy and a consensus price target of $17.20.

Get Our Latest Stock Analysis on Harmonic

Harmonic Trading Up 1.8 %

Shares of HLIT stock opened at $11.85 on Tuesday. The firm has a 50 day moving average price of $11.63 and a two-hundred day moving average price of $11.14. The company has a quick ratio of 0.82, a current ratio of 1.20 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.33 billion, a PE ratio of 296.25 and a beta of 0.84. Harmonic has a 12-month low of $8.80 and a 12-month high of $18.43.

Harmonic (NASDAQ:HLITGet Free Report) last announced its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. Harmonic had a net margin of 1.04% and a return on equity of 6.97%. The company had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $158.98 million. During the same period last year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts predict that Harmonic will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in Harmonic by 582.4% in the second quarter. Quadrant Capital Group LLC now owns 1,781 shares of the communications equipment provider’s stock valued at $29,000 after acquiring an additional 1,520 shares during the last quarter. West Tower Group LLC bought a new stake in shares of Harmonic during the second quarter worth $35,000. Captrust Financial Advisors grew its stake in shares of Harmonic by 411.4% during the first quarter. Captrust Financial Advisors now owns 3,866 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 3,110 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in shares of Harmonic by 80.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,271 shares of the communications equipment provider’s stock worth $43,000 after buying an additional 1,459 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its stake in shares of Harmonic by 2,615.0% during the first quarter. Belpointe Asset Management LLC now owns 3,258 shares of the communications equipment provider’s stock worth $48,000 after buying an additional 3,138 shares during the last quarter. 99.38% of the stock is owned by institutional investors.

Harmonic Company Profile

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Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Broadband. The Video segment sells video processing, production, and playout solutions and services to broadband operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies.

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