Harmonic Inc. (NASDAQ:HLIT) Receives Consensus Rating of “Hold” from Analysts

Shares of Harmonic Inc. (NASDAQ:HLIT) have received an average recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $16.60.

Several research analysts have weighed in on HLIT shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $15.00 price target on shares of Harmonic in a research report on Tuesday, May 12th. Weiss Ratings raised Harmonic from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday. Needham & Company LLC boosted their price target on Harmonic from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Wall Street Zen raised Harmonic from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $20.00 target price on shares of Harmonic in a report on Monday.

Insider Buying and Selling

In related news, Director Stephanie Copeland sold 4,300 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $13.30, for a total transaction of $57,190.00. Following the transaction, the director directly owned 20,752 shares of the company’s stock, valued at approximately $276,001.60. The trade was a 17.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Neven Haltmayer sold 31,766 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $13.24, for a total value of $420,581.84. Following the transaction, the senior vice president directly owned 133,924 shares in the company, valued at $1,773,153.76. The trade was a 19.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.74% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Harmonic by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 12,022,963 shares of the communications equipment provider’s stock worth $118,907,000 after acquiring an additional 148,281 shares during the last quarter. State Street Corp boosted its stake in Harmonic by 1.8% in the 4th quarter. State Street Corp now owns 4,471,187 shares of the communications equipment provider’s stock valued at $44,220,000 after purchasing an additional 80,791 shares during the period. Dimensional Fund Advisors LP grew its holdings in Harmonic by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,673,398 shares of the communications equipment provider’s stock valued at $32,987,000 after buying an additional 188,293 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Harmonic by 2.9% in the 3rd quarter. Alliancebernstein L.P. now owns 2,406,945 shares of the communications equipment provider’s stock valued at $24,503,000 after buying an additional 68,921 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Harmonic by 2.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,196,469 shares of the communications equipment provider’s stock valued at $19,724,000 after buying an additional 54,157 shares in the last quarter. 99.38% of the stock is owned by institutional investors and hedge funds.

Harmonic Stock Up 1.5%

NASDAQ:HLIT opened at $15.08 on Friday. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -40.76 and a beta of 1.32. Harmonic has a twelve month low of $7.80 and a twelve month high of $17.68. The stock’s 50 day moving average price is $12.80 and its two-hundred day moving average price is $10.94. The company has a quick ratio of 2.03, a current ratio of 2.27 and a debt-to-equity ratio of 0.31.

About Harmonic

Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic’s product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.