Harmonic (NASDAQ:HLIT) Rating Reiterated by Needham & Company LLC

Harmonic (NASDAQ:HLIT)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $18.00 target price on the communications equipment provider’s stock. Needham & Company LLC’s target price points to a potential upside of 80.18% from the stock’s current price.

Several other research firms have also recently commented on HLIT. Rosenblatt Securities reduced their target price on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, January 30th. Raymond James cut their price objective on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a report on Tuesday, January 30th. TheStreet raised shares of Harmonic from a “c” rating to a “b” rating in a research note on Monday, January 29th. Finally, StockNews.com raised shares of Harmonic from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Harmonic currently has an average rating of “Buy” and a consensus target price of $17.20.

Harmonic Trading Down 0.4 %

Shares of Harmonic stock opened at $9.99 on Wednesday. The company’s 50-day moving average price is $12.77 and its 200-day moving average price is $11.73. The company has a current ratio of 1.21, a quick ratio of 0.91 and a debt-to-equity ratio of 0.02. Harmonic has a 12-month low of $8.80 and a 12-month high of $18.43. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 14.07 and a beta of 0.84.

Harmonic (NASDAQ:HLIT) last posted its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. The business had revenue of $167.10 million for the quarter, compared to analyst estimates of $158.98 million. During the same quarter in the prior year, the firm posted $0.12 EPS. Harmonic’s revenue was up 1.7% on a year-over-year basis. On average, equities analysts expect that Harmonic will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Harmonic news, SVP Neven Haltmayer sold 14,747 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $13.68, for a total transaction of $201,738.96. Following the transaction, the senior vice president now directly owns 156,559 shares in the company, valued at $2,141,727.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Harmonic news, SVP Neven Haltmayer sold 14,747 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $13.68, for a total transaction of $201,738.96. Following the completion of the sale, the senior vice president now directly owns 156,559 shares in the company, valued at $2,141,727.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $12.91, for a total value of $1,291,000.00. Following the transaction, the senior vice president now directly owns 302,214 shares in the company, valued at $3,901,582.74. The disclosure for this sale can be found here. Insiders sold 150,000 shares of company stock worth $1,917,122 in the last quarter. 2.20% of the stock is owned by insiders.

Institutional Trading of Harmonic

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans increased its stake in shares of Harmonic by 0.7% in the first quarter. Thrivent Financial for Lutherans now owns 108,884 shares of the communications equipment provider’s stock worth $1,589,000 after buying an additional 733 shares during the period. Sei Investments Co. grew its holdings in Harmonic by 5.1% in the 2nd quarter. Sei Investments Co. now owns 25,432 shares of the communications equipment provider’s stock worth $238,000 after acquiring an additional 1,233 shares during the last quarter. Advisor Partners II LLC increased its position in shares of Harmonic by 10.7% in the fourth quarter. Advisor Partners II LLC now owns 13,636 shares of the communications equipment provider’s stock valued at $179,000 after acquiring an additional 1,317 shares during the period. Pathstone Family Office LLC raised its stake in shares of Harmonic by 11.9% during the fourth quarter. Pathstone Family Office LLC now owns 12,697 shares of the communications equipment provider’s stock valued at $166,000 after acquiring an additional 1,347 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Harmonic by 0.7% during the first quarter. Public Sector Pension Investment Board now owns 193,238 shares of the communications equipment provider’s stock worth $2,819,000 after purchasing an additional 1,421 shares during the period. Institutional investors own 99.38% of the company’s stock.

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.