Recent Investment Analysts’ Ratings Updates for Harmonic (HLIT)

by · The Markets Daily

Several analysts have recently updated their ratings and price targets for Harmonic (NASDAQ: HLIT):

  • 10/29/2024 – Harmonic had its price target lowered by analysts at Barclays PLC from $20.00 to $17.00. They now have an “overweight” rating on the stock.
  • 10/29/2024 – Harmonic had its price target lowered by analysts at Northland Securities from $16.00 to $14.00. They now have an “outperform” rating on the stock.
  • 10/29/2024 – Harmonic was downgraded by analysts at Raymond James from a “strong-buy” rating to an “outperform” rating. They now have a $14.00 price target on the stock, down previously from $17.00.
  • 10/29/2024 – Harmonic was downgraded by analysts at Jefferies Financial Group Inc. from a “buy” rating to a “hold” rating. They now have a $12.50 price target on the stock, down previously from $14.00.
  • 10/29/2024 – Harmonic had its price target lowered by analysts at Rosenblatt Securities from $18.00 to $16.00. They now have a “buy” rating on the stock.
  • 10/29/2024 – Harmonic had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $18.00 price target on the stock.
  • 10/15/2024 – Harmonic had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $18.00 price target on the stock.

Harmonic Trading Up 3.4 %

NASDAQ HLIT traded up $0.39 on Wednesday, reaching $12.02. The company had a trading volume of 1,270,097 shares, compared to its average volume of 1,529,768. The company has a quick ratio of 1.62, a current ratio of 2.08 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 16.47 and a beta of 0.89. The stock’s 50 day moving average is $13.71 and its 200-day moving average is $12.62. Harmonic Inc. has a 52 week low of $9.10 and a 52 week high of $15.46.

Harmonic (NASDAQ:HLIT – Get Free Report) last released its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.09. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The business had revenue of $195.80 million during the quarter, compared to analysts’ expectations of $181.77 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The firm’s quarterly revenue was up 53.9% on a year-over-year basis. Equities analysts predict that Harmonic Inc. will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Harmonic

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Harmonic by 780.9% in the second quarter. CWM LLC now owns 2,255 shares of the communications equipment provider’s stock valued at $27,000 after acquiring an additional 1,999 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Harmonic by 117.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 1,323 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Harmonic in the second quarter valued at $47,000. SageView Advisory Group LLC acquired a new position in Harmonic during the first quarter worth $114,000. Finally, Verdence Capital Advisors LLC acquired a new stake in Harmonic in the second quarter valued at $140,000. Institutional investors own 99.38% of the company’s stock.

Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.

Further Reading