Harmonic -5.1% as Drexel returns to sidelines

• Harmonic (NASDAQ:HLIT) is 5.1% lower today on heavy volume after Drexel Hamilton has headed to the sidelines on the stock.
• The firm's Greg Mesniaeff downgraded Harmonic to Hold from a previous Buy rating. Drexel had previously bumped it from Hold to Buy in August.
• Harmonic is up 0.9% since it beat expectations with earnings at February's end, and hit a 52-week high last Wednesday.
• It's up 11% YTD and up 76.8% over the past 12 months.