Harmonic Inc. (HLIT) Trading Down 1%
Shares of Harmonic Inc. (NASDAQ:HLIT) fell 1% during trading on Monday . The stock traded as low as $4.11 and last traded at $4.13, with a volume of 331,274 shares. The stock had previously closed at $4.17.
Several brokerages have recently commented on HLIT. Drexel Hamilton restated a “hold” rating on shares of Harmonic in a report on Tuesday, May 10th. Jefferies Group restated a “hold” rating and set a $3.50 target price on shares of Harmonic in a report on Wednesday, August 10th. Finally, Zacks Investment Research upgraded Harmonic from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $4.83.
The stock’s market cap is $328.51 million. The stock’s 50-day moving average is $3.18 and its 200-day moving average is $3.15.
An institutional investor recently raised its position in Harmonic stock. Russell Frank Co boosted its stake in Harmonic Inc. (NASDAQ:HLIT) by 3.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 246,732 shares of the company’s stock after buying an additional 9,009 shares during the period. Russell Frank Co owned 0.28% of Harmonic worth $1,027,000 as of its most recent filing with the SEC.
Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers.
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