Harmonic Inc. (NASDAQ:HLIT) Receives $13.13 Average PT from Brokerages

Shares of Harmonic Inc. (NASDAQ:HLIT) have earned an average rating of “Hold” from the six analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $13.3333.

A number of research firms have issued reports on HLIT. Needham & Company LLC restated a “buy” rating and issued a $15.00 price objective on shares of Harmonic in a research report on Tuesday, December 9th. Barclays boosted their price target on Harmonic from $8.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Harmonic in a research report on Thursday, January 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $14.00 price objective on shares of Harmonic in a research report on Tuesday, December 9th.

Harmonic Trading Down 3.2%

Shares of HLIT stock opened at $10.01 on Friday. The business has a 50-day moving average of $10.07 and a 200 day moving average of $9.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.08 and a quick ratio of 1.64. Harmonic has a 1-year low of $7.80 and a 1-year high of $11.49. The stock has a market capitalization of $1.12 billion, a PE ratio of 23.83 and a beta of 1.05.

Insider Buying and Selling at Harmonic

In related news, Director David Krall bought 47,528 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were purchased at an average price of $10.50 per share, with a total value of $499,044.00. Following the purchase, the director owned 223,125 shares of the company’s stock, valued at approximately $2,342,812.50. This trade represents a 27.07% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Neven Haltmayer sold 23,835 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $10.41, for a total transaction of $248,122.35. Following the transaction, the senior vice president owned 149,570 shares in the company, valued at $1,557,023.70. This represents a 13.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.21% of the company’s stock.

Institutional Trading of Harmonic

Large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Harmonic by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,664 shares of the communications equipment provider’s stock worth $630,000 after acquiring an additional 2,853 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Harmonic by 9.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 353,538 shares of the communications equipment provider’s stock worth $3,390,000 after purchasing an additional 31,276 shares in the last quarter. Jane Street Group LLC raised its holdings in Harmonic by 978.5% in the first quarter. Jane Street Group LLC now owns 247,480 shares of the communications equipment provider’s stock worth $2,373,000 after purchasing an additional 224,534 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Harmonic during the second quarter valued at $415,000. Finally, CWM LLC lifted its position in Harmonic by 277.7% during the second quarter. CWM LLC now owns 26,886 shares of the communications equipment provider’s stock valued at $255,000 after buying an additional 19,767 shares during the period. 99.38% of the stock is owned by institutional investors.

Harmonic Company Profile

Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic’s product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.