ValuEngine upgraded shares of Harmonic (NASDAQ:HLIT) from a buy rating to a strong-buy rating in a research note published on Thursday, ValuEngine reports.

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.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings results on Monday, April 29th. The communications equipment provider reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Harmonic had a negative return on equity of 0.08% and a negative net margin of 4.74%. The company had revenue of $80.10 million for the quarter, compared to analysts’ expectations of $85.52 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. The firm’s revenue was down 11.1% compared to the same quarter last year. Equities research analysts predict that Harmonic will post -0.08 earnings per share for the current fiscal year.

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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Analyst Recommendations for Harmonic (NASDAQ:HLIT)

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