Harmonic Inc. (HLIT) Shares Down 1.8%
Shares of Harmonic Inc. (NASDAQ:HLIT) dropped 1.8% during mid-day trading on Monday . The company traded as low as $4.32 and last traded at $4.37, with a volume of 73,595 shares trading hands. The stock had previously closed at $4.45.
HLIT has been the topic of a number of recent analyst reports. Drexel Hamilton reaffirmed a “hold” rating on shares of Harmonic in a report on Tuesday, May 10th. Zacks Investment Research raised shares of Harmonic from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $3.50 price target on shares of Harmonic in a report on Wednesday, August 10th. One equities 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’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $4.81.
The firm’s market cap is $339.43 million. The firm has a 50-day moving average of $3.53 and a 200 day moving average of $3.22.
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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