Harmonic (NASDAQ:HLIT) had its price objective increased by Stifel Nicolaus from $7.00 to $10.00 in a research report sent to investors on Wednesday morning, The Fly reports. The firm currently has a buy rating on the communications equipment provider’s stock.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. Northland Securities upgraded shares of Akoustis Technologies from a market perform rating to an outperform rating in a research note on Wednesday. BidaskClub downgraded shares of Zebra Technologies from a hold rating to a sell rating in a research note on Friday, May 24th. Finally, Raymond James reiterated a hold rating on shares of Broadcom in a research note on Friday, June 14th. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Harmonic presently has a consensus rating of Buy and a consensus target price of $7.54.
Shares of HLIT opened at $7.68 on Wednesday. Harmonic has a fifty-two week low of $4.25 and a fifty-two week high of $7.85. The firm has a market capitalization of $681.95 million, a P/E ratio of 256.00 and a beta of 0.90. The business’s 50-day simple moving average is $5.63. The company has a quick ratio of 1.13, a current ratio of 1.35 and a debt-to-equity ratio of 0.58.
Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA lifted its position in Harmonic by 113.1% in the first quarter. BNP Paribas Arbitrage SA now owns 18,481 shares of the communications equipment provider’s stock valued at $100,000 after purchasing an additional 9,807 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in Harmonic by 293.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 24,239 shares of the communications equipment provider’s stock valued at $114,000 after purchasing an additional 18,086 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in Harmonic in the fourth quarter valued at about $117,000. Menta Capital LLC lifted its position in Harmonic by 38.0% in the first quarter. Menta Capital LLC now owns 25,775 shares of the communications equipment provider’s stock valued at $140,000 after purchasing an additional 7,100 shares during the period. Finally, Oregon Public Employees Retirement Fund acquired a new stake in Harmonic in the fourth quarter valued at about $156,000. Hedge funds and other institutional investors own 88.72% of the company’s stock.
Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.
Receive News & Ratings for Harmonic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmonic and related companies with MarketBeat.com's FREE daily email newsletter.