Harmonic Inc. (HLIT) Shares Up 0.9%
Shares of Harmonic Inc. (NASDAQ:HLIT) shot up 0.9% during mid-day trading on Wednesday . The stock traded as high as $4.40 and last traded at $4.40, with a volume of 112,319 shares changing hands. The stock had previously closed at $4.36.
Several brokerages have recently issued reports on HLIT. Zacks Investment Research upgraded Harmonic from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a research report on Monday, August 15th. Drexel Hamilton upgraded Harmonic from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Wednesday, August 10th. Finally, Jefferies Group restated a “hold” rating and issued a $3.50 price objective on shares of Harmonic in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $4.81.
The firm’s market capitalization is $338.65 million. The company’s 50-day moving average is $3.60 and its 200-day moving average is $3.23.
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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