Several other analysts also recently commented on the stock. Needham & Company LLC increased their target price on shares of Harmonic from $14.00 to $15.00 and gave the company a buy rating in a report on Tuesday. StockNews.com upgraded shares of Harmonic from a hold rating to a buy rating in a research report on Wednesday, May 4th. TheStreet lowered shares of Harmonic from a b- rating to a c rating in a research report on Monday, May 2nd. Rosenblatt Securities increased their target price on shares of Harmonic from $15.00 to $17.00 and gave the stock a buy rating in a research report on Tuesday. Finally, Barclays increased their target price on shares of Harmonic from $13.00 to $14.00 and gave the stock an overweight rating in a research report on Tuesday. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $15.00.
Harmonic Stock Performance
HLIT opened at $10.88 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average price is $9.38 and its two-hundred day moving average price is $9.30. Harmonic has a 1-year low of $8.25 and a 1-year high of $12.22. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 68.00 and a beta of 1.02.
Insider Transactions at Harmonic
In other news, SVP Ian Graham sold 15,573 shares of the stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $9.89, for a total value of $154,016.97. Following the sale, the senior vice president now directly owns 100,358 shares of the company’s stock, valued at $992,540.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.78% of the company’s stock.
Institutional Investors Weigh In On Harmonic
Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new stake in Harmonic in the fourth quarter valued at approximately $35,000. Captrust Financial Advisors raised its stake in shares of Harmonic by 411.4% during the first quarter. Captrust Financial Advisors now owns 3,866 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 3,110 shares in the last quarter. KBC Group NV purchased a new position in shares of Harmonic during the second quarter worth approximately $77,000. Canandaigua National Corp purchased a new position in shares of Harmonic during the first quarter worth approximately $94,000. Finally, Running Point Capital Advisors LLC purchased a new position in shares of Harmonic during the first quarter worth approximately $100,000. 98.14% of the stock is owned by hedge funds and other institutional investors.
Harmonic Company Profile
Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Cable Access. The Video segment sells video processing, production, and playout solutions and services to cable operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies.
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