Rosenblatt Securities Reiterates Buy Rating for Harmonic (NASDAQ:HLIT)

Harmonic (NASDAQ:HLIT)‘s stock had its “buy” rating reaffirmed by analysts at Rosenblatt Securities in a report released on Tuesday,Benzinga reports. They presently have a $16.00 target price on the communications equipment provider’s stock. Rosenblatt Securities’ price target points to a potential upside of 45.45% from the stock’s previous close.

HLIT has been the topic of several other research reports. Jefferies Financial Group lowered shares of Harmonic from a “buy” rating to a “hold” rating and dropped their price objective for the company from $14.00 to $12.50 in a report on Tuesday, October 29th. Northland Securities cut their price objective on shares of Harmonic from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Barclays cut shares of Harmonic from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $17.00 to $14.00 in a report on Thursday, January 9th. Raymond James downgraded Harmonic from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $17.00 to $14.00 in a research report 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 report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.75.

Harmonic Trading Down 2.5 %

HLIT opened at $11.00 on Tuesday. The company has a quick ratio of 1.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.28 billion, a PE ratio of 15.07 and a beta of 0.89. The company has a fifty day moving average of $12.75 and a 200-day moving average of $13.17. Harmonic has a twelve month low of $9.10 and a twelve month high of $15.46.

Hedge Funds Weigh In On Harmonic

A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of Harmonic by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,675,268 shares of the communications equipment provider’s stock worth $38,986,000 after purchasing an additional 17,665 shares in the last quarter. Wasatch Advisors LP grew its stake in Harmonic by 15.3% in the 3rd quarter. Wasatch Advisors LP now owns 1,659,823 shares of the communications equipment provider’s stock worth $24,184,000 after buying an additional 219,685 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Harmonic by 85.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,208,829 shares of the communications equipment provider’s stock worth $17,613,000 after buying an additional 555,737 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Harmonic by 117.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,187,528 shares of the communications equipment provider’s stock valued at $17,302,000 after buying an additional 642,033 shares in the last quarter. Finally, Systematic Financial Management LP lifted its holdings in shares of Harmonic by 12.0% during the 3rd quarter. Systematic Financial Management LP now owns 1,107,668 shares of the communications equipment provider’s stock worth $16,139,000 after acquiring an additional 118,377 shares during the last quarter. 99.38% of the stock is currently owned by institutional investors.

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.