Harmonic Inc (NASDAQ:HLIT)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.94 and traded as high as $6.91. Harmonic shares last traded at $6.76, with a volume of 9,953 shares.
A number of analysts have recently commented on HLIT shares. Northland Securities reissued a “buy” rating on shares of Harmonic in a research note on Wednesday, July 10th. Raymond James upped their target price on Harmonic from $6.75 to $9.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. BidaskClub downgraded Harmonic from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Stifel Nicolaus upped their target price on Harmonic from $7.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, ValuEngine downgraded Harmonic from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $8.70.
The business has a fifty day moving average of $7.17 and a 200 day moving average of $5.94. The stock has a market cap of $606.65 million, a price-to-earnings ratio of 225.50, a P/E/G ratio of 10.46 and a beta of 0.87. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.14.
In related news, SVP Neven Haltmayer sold 30,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $7.28, for a total transaction of $218,400.00. Following the completion of the sale, the senior vice president now owns 159,813 shares of the company’s stock, valued at approximately $1,163,438.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Arizona State Retirement System grew its position in Harmonic by 2.5% during the 1st quarter. Arizona State Retirement System now owns 136,799 shares of the communications equipment provider’s stock worth $741,000 after purchasing an additional 3,285 shares during the last quarter. Texas Permanent School Fund lifted its stake in shares of Harmonic by 6.1% in the first quarter. Texas Permanent School Fund now owns 60,212 shares of the communications equipment provider’s stock valued at $326,000 after purchasing an additional 3,478 shares during the period. Swiss National Bank lifted its stake in shares of Harmonic by 2.5% in the second quarter. Swiss National Bank now owns 162,015 shares of the communications equipment provider’s stock valued at $899,000 after purchasing an additional 4,000 shares during the period. Comerica Bank lifted its stake in shares of Harmonic by 6.1% in the first quarter. Comerica Bank now owns 87,760 shares of the communications equipment provider’s stock valued at $499,000 after purchasing an additional 5,063 shares during the period. Finally, Aperio Group LLC acquired a new stake in shares of Harmonic in the second quarter valued at about $29,000. 87.45% of the stock is owned by institutional investors and hedge funds.
Harmonic Company Profile (NASDAQ:HLIT)
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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