Jefferies Group LLC reiterated their hold rating on shares of Harmonic Inc. (NASDAQ:HLIT) in a research note published on Sunday morning. The brokerage currently has a $3.50 price objective on the communications equipment provider’s stock.

A number of other analysts have also recently weighed in on the stock. ValuEngine cut shares of Harmonic from a sell rating to a strong sell rating in a report on Friday, September 1st. TheStreet cut shares of Harmonic from a c- rating to a d+ rating in a report on Wednesday, August 9th. BidaskClub cut shares of Harmonic from a hold rating to a sell rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research cut shares of Harmonic from a hold rating to a strong sell rating in a report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $5.50.

Shares of Harmonic (NASDAQ HLIT) opened at 2.95 on Friday. The stock has a 50 day moving average of $3.52 and a 200 day moving average of $4.93. The stock’s market capitalization is $239.75 million. Harmonic has a 12-month low of $2.80 and a 12-month high of $6.18.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings data on Monday, July 31st. The communications equipment provider reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. Harmonic had a negative net margin of 21.58% and a negative return on equity of 13.22%. The company had revenue of $82.30 million for the quarter, compared to analysts’ expectations of $80.88 million. The company’s revenue was down 24.9% on a year-over-year basis. Equities research analysts anticipate that Harmonic will post ($0.42) EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.thecerbatgem.com/2017/09/14/harmonics-hlit-hold-rating-reaffirmed-at-jefferies-group-llc.html.

In other news, insider Patrick Harshman sold 7,979 shares of Harmonic stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $3.47, for a total value of $27,687.13. Following the transaction, the insider now directly owns 570,733 shares of the company’s stock, valued at approximately $1,980,443.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.53% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan increased its holdings in shares of Harmonic by 5.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 19,030 shares of the communications equipment provider’s stock valued at $100,000 after acquiring an additional 1,010 shares during the period. Mason Street Advisors LLC increased its holdings in shares of Harmonic by 9.0% in the 1st quarter. Mason Street Advisors LLC now owns 18,654 shares of the communications equipment provider’s stock valued at $111,000 after acquiring an additional 1,534 shares during the period. Sei Investments Co. acquired a new position in shares of Harmonic in the 2nd quarter valued at $142,000. Louisiana State Employees Retirement System increased its holdings in shares of Harmonic by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,800 shares of the communications equipment provider’s stock valued at $172,000 after acquiring an additional 300 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Harmonic by 36.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 35,456 shares of the communications equipment provider’s stock valued at $186,000 after acquiring an additional 9,437 shares during the period. 99.08% of the stock is currently owned by institutional investors and hedge funds.

About Harmonic

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.

Receive News & Stock Ratings for Harmonic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmonic Inc. and related stocks with our FREE daily email newsletter.