Price Change to Note: Harmonic Inc’s Trend Down, Especially After Today’s Weak Session

Price Change to Note: Harmonic Inc's Trend Down, Especially After Today's Weak Session

The stock of Harmonic Inc (NASDAQ:HLIT) is a huge mover today! About 322,320 shares traded hands. Harmonic Inc (NASDAQ:HLIT) has risen 53.50% since April 13, 2016 and is uptrending. It has outperformed by 49.57% the S&P500.
The move comes after 5 months negative chart setup for the $377.49 million company. It was reported on Nov, 15 by Barchart.com. We have $4.07 PT which if reached, will make NASDAQ:HLIT worth $49.07 million less.

Harmonic Inc (NASDAQ:HLIT) Ratings Coverage

Out of 3 analysts covering Harmonic Inc (NASDAQ:HLIT), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Harmonic Inc has been the topic of 4 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of Harmonic Inc (NASDAQ:HLIT) has “Buy” rating given on Wednesday, August 10 by Drexel Hamilton. On Friday, July 24 the stock rating was initiated by Drexel Hamilton with “Hold”. The stock of Harmonic Inc (NASDAQ:HLIT) has “Outperform” rating given on Wednesday, January 13 by Northland Capital.

According to Zacks Investment Research, “Harmonic designs, manufactures and markets digital and fiber optic systems for delivering video, voice and data services over cable, satellite, telephone, and wireless networks. The company’s advanced solutions enable cable television and other network operators to provide a range of broadcast and interactive broadband services that include high-speed Internet access, telephony and video on demand. The company offers a broad range of fiber optic transmission and digital headend products for hybrid fiber coax, satellite and wireless networks.”

Insitutional Activity: The institutional sentiment decreased to 0.71 in 2016 Q2. Its down 0.29, from 1 in 2016Q1. The ratio worsened, as 13 funds sold all Harmonic Inc shares owned while 52 reduced positions. 10 funds bought stakes while 36 increased positions. They now own 72.60 million shares or 3.52% more from 70.14 million shares in 2016Q1.
Coe Capital Mngmt Ltd Liability Com has 220,090 shares for 0% of their US portfolio. Moreover, Us Bank & Trust De has 0% invested in Harmonic Inc (NASDAQ:HLIT) for 1 shares. Manufacturers Life Ins Co The holds 57,325 shares or 0% of its portfolio. Guggenheim Capital Lc holds 0% or 25,846 shares in its portfolio. The Germany-based Deutsche Bancorp Ag has invested 0% in Harmonic Inc (NASDAQ:HLIT). Dimensional Fund Advisors Ltd Partnership last reported 6.57 million shares in the company. Citadel Advisors Ltd Liability owns 15,704 shares or 0% of their US portfolio. Sei Invests accumulated 0% or 83,032 shares. Raymond James Finance Service accumulated 0% or 22,200 shares. Voya Investment Mngmt Llc has invested 0% of its portfolio in Harmonic Inc (NASDAQ:HLIT). Metropolitan Life Insurance Ny has invested 0% of its portfolio in Harmonic Inc (NASDAQ:HLIT). Amer Int Group Inc Inc accumulated 0% or 57,055 shares. Paloma Prtn Mgmt accumulated 0% or 12,139 shares. Guardian last reported 0% of its portfolio in the stock. Paradigm Cap Mngmt Inc New York holds 161,000 shares or 0.06% of its portfolio.

More recent Harmonic Inc (NASDAQ:HLIT) news were published by: Fool.com which released: “Why Shares of Harmonic Inc. Tumbled Today” on November 10, 2016. Also Fool.com published the news titled: “Why Harmonic, Inc. Shares Popped Today” on September 28, 2016. Fool.com‘s news article titled: “Why Shares of Harmonic Inc. Soared Today” with publication date: August 10, 2016 was also an interesting one.

HLIT Company Profile

Harmonic Inc. (Harmonic), incorporated on March 29, 1995, designs, makes and sells video infrastructure products and system solutions. The Firm has two divisions: Video and Cable Edge. Harmonic provides technical support and professional services to its clients around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers. The Company’s Cable Edge business sells cable edge solutions and related services to cable operators around the world.

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