Harmonic Inc. (NASDAQ:HLIT) Receives $16.60 Consensus Target Price from Brokerages

Harmonic Inc. (NASDAQ:HLIT) has been given an average rating of “Hold” by the six analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $16.60.

A number of brokerages recently issued reports on HLIT. Wall Street Zen cut Harmonic from a “strong-buy” rating to a “buy” rating in a report on Saturday. Barclays lifted their target price on Harmonic from $11.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Zacks Research cut Harmonic from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 24th. Northland Securities set a $15.00 price target on shares of Harmonic in a report on Tuesday, May 12th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $15.00 price objective on shares of Harmonic in a research report on Tuesday, May 12th.

Insider Activity at Harmonic

In other news, SVP Neven Haltmayer sold 31,766 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $13.24, for a total transaction of $420,581.84. Following the completion of the transaction, the senior vice president directly owned 133,924 shares in the company, valued at $1,773,153.76. The trade was a 19.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephanie Copeland sold 4,300 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $13.30, for a total transaction of $57,190.00. Following the completion of the transaction, the director directly owned 20,752 shares in the company, valued at approximately $276,001.60. The trade was a 17.16% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.74% of the company’s stock.

Institutional Investors Weigh In On Harmonic

Several large investors have recently added to or reduced their stakes in the business. Sei Investments Co. raised its position in shares of Harmonic by 2.0% during the 1st quarter. Sei Investments Co. now owns 70,742 shares of the communications equipment provider’s stock valued at $635,000 after buying an additional 1,383 shares in the last quarter. Aristides Capital LLC lifted its holdings in shares of Harmonic by 7.2% during the 1st quarter. Aristides Capital LLC now owns 21,943 shares of the communications equipment provider’s stock worth $197,000 after acquiring an additional 1,483 shares during the last quarter. Inspire Investing LLC grew its position in Harmonic by 5.4% in the fourth quarter. Inspire Investing LLC now owns 47,233 shares of the communications equipment provider’s stock worth $467,000 after acquiring an additional 2,428 shares in the last quarter. Stephens Inc. AR grew its position in Harmonic by 6.5% in the fourth quarter. Stephens Inc. AR now owns 41,893 shares of the communications equipment provider’s stock worth $414,000 after acquiring an additional 2,548 shares in the last quarter. Finally, Caxton Associates LLP increased its stake in Harmonic by 21.2% in the first quarter. Caxton Associates LLP now owns 15,937 shares of the communications equipment provider’s stock valued at $143,000 after acquiring an additional 2,789 shares during the last quarter. Institutional investors own 99.38% of the company’s stock.

Harmonic Price Performance

Harmonic stock opened at $11.80 on Friday. The firm has a market capitalization of $1.28 billion, a P/E ratio of -31.89 and a beta of 1.32. Harmonic has a one year low of $8.40 and a one year high of $17.68. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.27 and a quick ratio of 2.03. The business has a fifty day moving average price of $13.92 and a 200-day moving average price of $11.68.

About Harmonic

Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic’s product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.