UBS Cuts Estimates and Price Target on Harmonic (HLIT); Weakness in Europe and Cable Spending
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Price: $13.92 +6.42%
Rating Summary:
10 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Neutral' on Harmonic Inc. (NASDAQ: HLIT) price target lowered from $6.50 to $5.25.
Analyst, Nikos Theodosopoulos, said, "We have adjusted our model post HLIT’s 1Q pre-announce last week. The miss was driven by a slower than expected start to 2012 cable carrier spending and weakness in digital video processing sales in Europe. Gross margin was impacted as well due to a higher mix of HLIT’s new HectoQAM cable edge product."
FY12/13 EPS cut from $0.45/$0.50 to $0.28/$0.40. FY12/13 revs cut from $586M/$624M to $547M/$582M.
For an analyst ratings summary and ratings history on Harmonic Inc. click here. For more ratings news on Harmonic Inc. click here.
Shares of Harmonic Inc. closed at $4.81 yesterday.
Analyst, Nikos Theodosopoulos, said, "We have adjusted our model post HLIT’s 1Q pre-announce last week. The miss was driven by a slower than expected start to 2012 cable carrier spending and weakness in digital video processing sales in Europe. Gross margin was impacted as well due to a higher mix of HLIT’s new HectoQAM cable edge product."
FY12/13 EPS cut from $0.45/$0.50 to $0.28/$0.40. FY12/13 revs cut from $586M/$624M to $547M/$582M.
For an analyst ratings summary and ratings history on Harmonic Inc. click here. For more ratings news on Harmonic Inc. click here.
Shares of Harmonic Inc. closed at $4.81 yesterday.
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