BidaskClub lowered shares of Harmonic (NASDAQ:HLIT) from a buy rating to a hold rating in a research note published on Thursday, BidAskClub reports.

Several other equities research analysts have also weighed in on HLIT. Needham & Company LLC reissued a buy rating and issued a $10.00 price objective (up previously from $7.00) on shares of Harmonic in a report on Tuesday, July 30th. ValuEngine lowered Harmonic from a strong-buy rating to a buy rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their price objective on Harmonic from $7.00 to $10.00 and gave the stock a buy rating in a report on Wednesday, July 10th. Zacks Investment Research raised Harmonic from a hold rating to a strong-buy rating and set a $6.25 price objective for the company in a report on Wednesday, July 3rd. Finally, Raymond James lifted their price objective on Harmonic from $6.75 to $9.00 and gave the stock an outperform rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average price target of $8.70.

Shares of HLIT opened at $6.66 on Thursday. The business has a 50-day moving average of $7.05 and a 200 day moving average of $5.91. Harmonic has a fifty-two week low of $4.48 and a fifty-two week high of $8.09. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.14.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, July 29th. The communications equipment provider reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. Harmonic had a negative return on equity of 3.72% and a negative net margin of 7.27%. The company had revenue of $84.87 million during the quarter, compared to analyst estimates of $85.07 million. During the same quarter last year, the firm posted $0.05 EPS. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. On average, research analysts expect that Harmonic will post 0.07 earnings per share for the current year.

In other Harmonic news, SVP Neven Haltmayer sold 30,000 shares of Harmonic stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $7.28, for a total value of $218,400.00. Following the transaction, the senior vice president now directly owns 159,813 shares of the company’s stock, valued at approximately $1,163,438.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Aperio Group LLC purchased a new stake in Harmonic during the second quarter valued at $29,000. Quantamental Technologies LLC purchased a new stake in Harmonic during the second quarter valued at $33,000. Tower Research Capital LLC TRC increased its position in Harmonic by 562.8% during the second quarter. Tower Research Capital LLC TRC now owns 8,444 shares of the communications equipment provider’s stock valued at $47,000 after acquiring an additional 7,170 shares during the last quarter. Bank of Montreal Can increased its position in Harmonic by 308,766.7% during the second quarter. Bank of Montreal Can now owns 9,266 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 9,263 shares during the last quarter. Finally, Laurion Capital Management LP purchased a new stake in Harmonic during the second quarter valued at $77,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Harmonic (NASDAQ:HLIT)

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