Harmonic (HLIT) Sees Large Volume Increase

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Shares of Harmonic Inc (NASDAQ:HLIT) saw unusually-strong trading volume on Monday . Approximately 22,690 shares traded hands during trading, a decline of 94% from the previous session’s volume of 402,589 shares.The stock last traded at $5.95 and had previously closed at $6.16.

A number of equities research analysts have commented on HLIT shares. ValuEngine cut shares of Harmonic from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. BidaskClub cut shares of Harmonic from a “buy” rating to a “hold” rating in a research note on Thursday, September 20th. TheStreet raised shares of Harmonic from a “d” rating to a “c-” rating in a report on Monday, July 30th. Loop Capital assumed coverage on shares of Harmonic in a report on Thursday, September 20th. They set a “buy” rating and a $8.25 price objective for the company. Finally, Northland Securities set a $7.00 price objective on shares of Harmonic and gave the company a “buy” rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $7.17.

The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 0.57. The firm has a market cap of $529.95 million, a PE ratio of -11.00 and a beta of 0.67.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, October 29th. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm posted ($0.01) EPS. The company’s revenue was up 10.7% on a year-over-year basis. Analysts predict that Harmonic Inc will post -0.04 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Divisar Capital Management LLC grew its holdings in Harmonic by 33.4% during the 2nd quarter. Divisar Capital Management LLC now owns 3,371,972 shares of the communications equipment provider’s stock valued at $14,331,000 after buying an additional 844,508 shares in the last quarter. BlackRock Inc. grew its holdings in Harmonic by 1.1% during the 1st quarter. BlackRock Inc. now owns 10,614,738 shares of the communications equipment provider’s stock valued at $40,337,000 after buying an additional 115,823 shares in the last quarter. Manatuck Hill Partners LLC purchased a new stake in Harmonic during the 2nd quarter valued at approximately $128,000. Metropolitan Life Insurance Co. NY grew its holdings in Harmonic by 112.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 36,235 shares of the communications equipment provider’s stock valued at $154,000 after buying an additional 19,174 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Harmonic by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,451,699 shares of the communications equipment provider’s stock valued at $27,419,000 after buying an additional 158,449 shares in the last quarter. 86.42% of the stock is owned by institutional investors and hedge funds.

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Harmonic Company Profile (NASDAQ:HLIT)

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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