Harmonic Inc (HLIT) Receives $5.33 Average Price Target from Analysts

Shares of Harmonic Inc (NASDAQ:HLIT) have received an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $5.33.

A number of research firms have recently issued reports on HLIT. BidaskClub upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. Zacks Investment Research downgraded shares of Harmonic from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd.

How to Become a New Pot Stock Millionaire

In related news, CFO Sanjay Kalra sold 10,455 shares of the business’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $3.53, for a total transaction of $36,906.15. Following the transaction, the chief financial officer now directly owns 39,198 shares in the company, valued at $138,368.94. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick Harshman sold 35,581 shares of the business’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $3.53, for a total transaction of $125,600.93. Following the transaction, the chief executive officer now owns 708,160 shares in the company, valued at $2,499,804.80. The disclosure for this sale can be found here. Insiders sold 56,234 shares of company stock worth $198,506 over the last quarter. 5.53% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Harmonic by 2.7% during the fourth quarter. BlackRock Inc. now owns 10,498,915 shares of the communications equipment provider’s stock worth $44,095,000 after buying an additional 271,392 shares during the last quarter. Raging Capital Management LLC increased its holdings in shares of Harmonic by 1.9% in the fourth quarter. Raging Capital Management LLC now owns 7,491,975 shares of the communications equipment provider’s stock valued at $31,466,000 after purchasing an additional 141,960 shares during the last quarter. State Street Corp increased its holdings in shares of Harmonic by 7.0% in the second quarter. State Street Corp now owns 1,961,470 shares of the communications equipment provider’s stock valued at $10,303,000 after purchasing an additional 129,086 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Harmonic by 10.0% in the fourth quarter. Royce & Associates LP now owns 1,325,599 shares of the communications equipment provider’s stock valued at $5,568,000 after purchasing an additional 120,100 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Harmonic by 8.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,012,912 shares of the communications equipment provider’s stock valued at $4,255,000 after purchasing an additional 76,741 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.

HLIT traded down $0.05 during trading on Monday, reaching $3.75. The company had a trading volume of 238,549 shares, compared to its average volume of 555,349. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 0.57. Harmonic has a 12 month low of $2.80 and a 12 month high of $6.03.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Wednesday, February 28th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.03). Harmonic had a negative net margin of 23.16% and a negative return on equity of 17.41%. The business had revenue of $100.97 million during the quarter, compared to analyst estimates of $96.47 million. equities analysts forecast that Harmonic will post -0.06 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This story was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright law. The original version of this story can be read at https://ledgergazette.com/2018/04/17/harmonic-inc-hlit-receives-5-33-average-price-target-from-analysts.html.

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.

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.

Leave a Reply