Harmonic Inc (NASDAQ:HLIT) has been given an average recommendation of “Hold” by the eight research firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $5.33.
A number of brokerages have recently commented on HLIT. ValuEngine raised shares of Harmonic from a “hold” rating to a “buy” rating in a research report on Monday. BidaskClub upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Wednesday, June 6th. Raymond James upgraded shares of Harmonic from an “underperform” rating to a “market perform” rating in a research report on Tuesday, May 1st. Finally, Zacks Investment Research cut shares of Harmonic from a “hold” rating to a “sell” rating in a research report on Thursday, March 15th.
In related news, Director Floyd E. Kvamme acquired 20,000 shares of the stock in a transaction that occurred on Monday, May 7th. The stock was acquired at an average cost of $3.70 per share, for a total transaction of $74,000.00. Following the transaction, the director now directly owns 758,922 shares in the company, valued at $2,808,011.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.20% of the stock is owned by corporate insiders.
Shares of Harmonic traded up $0.10, reaching $4.45, during midday trading on Friday, according to MarketBeat. The stock had a trading volume of 383,200 shares, compared to its average volume of 586,475. Harmonic has a one year low of $2.80 and a one year high of $5.50. The company has a market cap of $370.69 million, a PE ratio of -8.24 and a beta of 0.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.28 and a quick ratio of 1.10.
Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, April 30th. The communications equipment provider reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. Harmonic had a negative net margin of 19.87% and a negative return on equity of 14.52%. The company had revenue of $90.10 million during the quarter, compared to the consensus estimate of $88.36 million. During the same quarter last year, the firm posted ($0.14) EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. analysts expect that Harmonic will post -0.12 earnings per share for the current year.
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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