Harmonic (NASDAQ:HLIT) Upgraded at ValuEngine
HLIT has been the topic of a number of other reports. Raymond James restated a hold rating on shares of Broadcom in a research note on Friday, June 14th. Northland Securities upgraded Akoustis Technologies from a market perform rating to an outperform rating in a research note on Wednesday. BidaskClub cut Zebra Technologies from a hold rating to a sell rating in a research note on Friday, May 24th. Stifel Nicolaus upped their price target on Harmonic from $7.00 to $10.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $7.54.
Shares of Harmonic stock opened at $7.68 on Thursday. The stock has a market capitalization of $681.95 million, a price-to-earnings ratio of 256.00 and a beta of 0.90. Harmonic has a fifty-two week low of $4.25 and a fifty-two week high of $7.85. The company has a quick ratio of 1.13, a current ratio of 1.35 and a debt-to-equity ratio of 0.58. The stock has a 50 day simple moving average of $5.63.
Several hedge funds and other institutional investors have recently made changes to their positions in HLIT. BNP Paribas Arbitrage SA raised its stake in shares of Harmonic by 113.1% in the first quarter. BNP Paribas Arbitrage SA now owns 18,481 shares of the communications equipment provider’s stock valued at $100,000 after acquiring an additional 9,807 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Harmonic by 293.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 24,239 shares of the communications equipment provider’s stock valued at $114,000 after acquiring an additional 18,086 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Harmonic in the fourth quarter valued at $117,000. Menta Capital LLC raised its stake in shares of Harmonic by 38.0% in the first quarter. Menta Capital LLC now owns 25,775 shares of the communications equipment provider’s stock valued at $140,000 after acquiring an additional 7,100 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new stake in shares of Harmonic in the fourth quarter valued at $156,000. Institutional investors and hedge funds own 88.72% of the company’s stock.
Harmonic Company Profile
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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