Harmonic (HLIT) Rating Increased to Strong-Buy at BidaskClub

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Harmonic (NASDAQ:HLIT) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

Several other research analysts have also commented on HLIT. Zacks Investment Research lowered shares of Harmonic from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Northland Securities set a $7.00 price objective on shares of Harmonic and gave the company a “buy” rating in a research note on Thursday, August 2nd. ValuEngine lowered shares of Harmonic from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. TheStreet raised shares of Harmonic from a “d” rating to a “c-” rating in a research note on Monday, July 30th. Finally, Loop Capital began coverage on shares of Harmonic in a research note on Thursday, September 20th. They issued a “buy” rating and a $8.25 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Harmonic presently has an average rating of “Buy” and a consensus target price of $6.50.

NASDAQ HLIT opened at $5.51 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.36 and a debt-to-equity ratio of 0.57. Harmonic has a one year low of $2.90 and a one year high of $5.93. The company has a market capitalization of $473.17 million, a PE ratio of -10.20 and a beta of 0.70.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Monday, October 29th. The communications equipment provider reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03. Harmonic had a negative net margin of 9.26% and a negative return on equity of 5.97%. The business had revenue of $101.40 million during the quarter, compared to analyst estimates of $99.46 million. During the same quarter last year, the firm posted ($0.01) earnings per share. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Harmonic will post -0.08 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Legal & General Group Plc raised its holdings in Harmonic by 8.4% in the second quarter. Legal & General Group Plc now owns 164,819 shares of the communications equipment provider’s stock valued at $699,000 after acquiring an additional 12,821 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Harmonic by 7.6% in the third quarter. Russell Investments Group Ltd. now owns 190,199 shares of the communications equipment provider’s stock valued at $1,046,000 after acquiring an additional 13,366 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in Harmonic by 112.4% in the second quarter. Metropolitan Life Insurance Co. NY now owns 36,235 shares of the communications equipment provider’s stock valued at $154,000 after acquiring an additional 19,174 shares in the last quarter. Manatuck Hill Partners LLC acquired a new stake in Harmonic in the second quarter valued at approximately $128,000. Finally, SG Americas Securities LLC acquired a new stake in Harmonic in the second quarter valued at approximately $138,000. 86.33% of the stock is currently owned by hedge funds and other institutional investors.

About Harmonic

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.

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