Harmonic Inc. (HLIT) Trading Down 1%
Harmonic Inc. (NASDAQ:HLIT) fell 1% on Monday . The company traded as low as $4.11 and last traded at $4.13, with a volume of 331,274 shares changing hands. The stock had previously closed at $4.17.
A number of brokerages have recently weighed in on HLIT. Zacks Investment Research upgraded Harmonic from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a report on Monday. Drexel Hamilton upgraded Harmonic from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Wednesday, August 10th. Finally, Jefferies Group reiterated a “hold” rating and issued a $3.50 price target on shares of Harmonic in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $4.81.
The company’s market capitalization is $320.70 million. The company has a 50-day moving average price of $3.22 and a 200 day moving average price of $3.16.
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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