Harmonic (NASDAQ:HLIT) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Tuesday.
A number of other research analysts have also commented on HLIT. ValuEngine lowered Harmonic from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded Harmonic from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Wednesday, October 4th. Northland Securities set a $6.00 target price on Harmonic and gave the company a “buy” rating in a research note on Tuesday, October 17th. Finally, Dougherty & Co restated a “buy” rating and issued a $6.50 target price on shares of Harmonic in a research note on Monday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $5.06.
Harmonic (NASDAQ:HLIT) opened at $3.75 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.20 and a quick ratio of 0.99. The company has a market capitalization of $301.99, a price-to-earnings ratio of -3.71 and a beta of 1.05. Harmonic has a 12 month low of $2.80 and a 12 month high of $6.18.
In other Harmonic news, SVP Bart Spriester sold 8,004 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $3.81, for a total transaction of $30,495.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Neven Haltmayer sold 8,311 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $3.81, for a total value of $31,664.91. The disclosure for this sale can be found here. Insiders have sold 25,933 shares of company stock valued at $98,389 over the last quarter. Corporate insiders own 5.53% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA raised its stake in Harmonic by 41.0% during the third quarter. BNP Paribas Arbitrage SA now owns 49,992 shares of the communications equipment provider’s stock worth $152,000 after acquiring an additional 14,536 shares in the last quarter. SG Americas Securities LLC raised its stake in Harmonic by 193.7% during the fourth quarter. SG Americas Securities LLC now owns 36,761 shares of the communications equipment provider’s stock worth $154,000 after acquiring an additional 24,244 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Harmonic during the third quarter worth $190,000. Voya Investment Management LLC raised its stake in Harmonic by 12.1% during the second quarter. Voya Investment Management LLC now owns 43,910 shares of the communications equipment provider’s stock worth $231,000 after acquiring an additional 4,742 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its stake in Harmonic by 7.3% during the second quarter. Thrivent Financial For Lutherans now owns 48,530 shares of the communications equipment provider’s stock worth $255,000 after acquiring an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.
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Harmonic Company Profile
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.
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