Harmonic (NASDAQ:HLIT) Given New $10.00 Price Target at Stifel Nicolaus

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.

Harmonic (NASDAQ:HLIT) last announced its earnings results on Monday, April 29th. The communications equipment provider reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. Harmonic had a negative net margin of 4.74% and a negative return on equity of 0.08%. The business had revenue of $80.10 million during the quarter, compared to the consensus estimate of $85.52 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Harmonic will post -0.08 earnings per share for the current fiscal year.

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.

About Harmonic

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.

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The Fly

Analyst Recommendations for Harmonic (NASDAQ:HLIT)

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