Harmonic (NASDAQ:HLIT) Price Target Lowered to $14.00 at Northland Securities

Harmonic (NASDAQ:HLIT) had its target price reduced by Northland Securities from $16.00 to $14.00 in a report published on Tuesday, Benzinga reports. Northland Securities currently has an outperform rating on the communications equipment provider’s stock.

HLIT has been the topic of several other reports. Rosenblatt Securities reissued a “buy” rating and set a $18.00 price objective on shares of Harmonic in a research report on Tuesday, October 15th. Barclays lowered their price objective on shares of Harmonic from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Harmonic in a report on Tuesday. Finally, Raymond James downgraded shares of Harmonic from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $17.00 to $14.00 in a report on Tuesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Harmonic Price Performance

Shares of NASDAQ:HLIT opened at $10.96 on Tuesday. Harmonic has a 12 month low of $9.10 and a 12 month high of $15.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.08 and a quick ratio of 1.32. The firm has a market capitalization of $1.27 billion, a P/E ratio of 15.01 and a beta of 0.87. The company’s fifty day moving average price is $13.90 and its 200 day moving average price is $12.56.

Harmonic (NASDAQ:HLIT) last issued its quarterly earnings data on Monday, October 28th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.09. Harmonic had a net margin of 13.62% and a return on equity of 7.56%. The company had revenue of $195.80 million for the quarter, compared to the consensus estimate of $181.77 million. During the same period last year, the firm posted ($0.05) EPS. Harmonic’s revenue for the quarter was up 53.9% on a year-over-year basis. As a group, sell-side analysts predict that Harmonic will post 0.49 earnings per share for the current fiscal year.

Institutional Trading of Harmonic

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in Harmonic by 117.6% during the third quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 1,323 shares in the last quarter. Dark Forest Capital Management LP boosted its holdings in Harmonic by 7.2% during the second quarter. Dark Forest Capital Management LP now owns 20,192 shares of the communications equipment provider’s stock worth $238,000 after buying an additional 1,362 shares in the last quarter. Rhumbline Advisers boosted its holdings in Harmonic by 0.4% during the second quarter. Rhumbline Advisers now owns 320,516 shares of the communications equipment provider’s stock worth $3,772,000 after buying an additional 1,382 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in Harmonic by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 98,377 shares of the communications equipment provider’s stock worth $1,322,000 after buying an additional 1,462 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Harmonic by 7.4% during the first quarter. ProShare Advisors LLC now owns 22,256 shares of the communications equipment provider’s stock worth $299,000 after buying an additional 1,532 shares in the last quarter. Hedge funds and other institutional investors own 99.38% of the company’s stock.

Harmonic Company Profile

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.