Harmonic Inc. (NASDAQ:HLIT - Get Free Report) SVP Ian Graham sold 52,730 shares of the company's stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $10.95, for a total transaction of $577,393.50. Following the completion of the transaction, the senior vice president now directly owns 63,616 shares in the company, valued at approximately $696,595.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Harmonic Price Performance
Shares of Harmonic stock opened at $10.84 on Tuesday. The business has a 50 day moving average of $11.93 and a 200 day moving average of $11.79. Harmonic Inc. has a 52 week low of $8.80 and a 52 week high of $18.43. The company has a market cap of $1.22 billion, a PE ratio of 18.07 and a beta of 0.90. The company has a quick ratio of 0.78, a current ratio of 1.09 and a debt-to-equity ratio of 0.03.
Harmonic (NASDAQ:HLIT - Get Free Report) last posted its earnings results on Monday, April 29th. The communications equipment provider reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). Harmonic had a return on equity of 1.35% and a net margin of 12.37%. The company had revenue of $122.06 million during the quarter, compared to analysts' expectations of $121.70 million. During the same period in the prior year, the business posted $0.06 earnings per share. The company's revenue for the quarter was down 22.6% on a year-over-year basis. As a group, equities research analysts forecast that Harmonic Inc. will post 0.36 earnings per share for the current year.
Institutional Inflows and Outflows
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Several institutional investors have recently made changes to their positions in HLIT. SG Americas Securities LLC bought a new stake in shares of Harmonic during the third quarter valued at approximately $299,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Harmonic by 551.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 122,937 shares of the communications equipment provider's stock valued at $1,184,000 after buying an additional 104,061 shares in the last quarter. Inspire Investing LLC grew its position in shares of Harmonic by 65.8% in the 3rd quarter. Inspire Investing LLC now owns 32,184 shares of the communications equipment provider's stock worth $310,000 after buying an additional 12,778 shares during the period. Emerald Advisers LLC increased its stake in shares of Harmonic by 15.0% in the 3rd quarter. Emerald Advisers LLC now owns 1,017,687 shares of the communications equipment provider's stock worth $9,800,000 after acquiring an additional 132,840 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its position in Harmonic by 7.1% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 739,659 shares of the communications equipment provider's stock valued at $7,123,000 after acquiring an additional 49,109 shares during the period. Institutional investors own 99.38% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently commented on HLIT. Rosenblatt Securities reduced their target price on shares of Harmonic from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, January 30th. TheStreet raised Harmonic from a "c" rating to a "b" rating in a research note on Monday, January 29th. Needham & Company LLC reissued a "buy" rating and issued a $18.00 target price on shares of Harmonic in a research note on Tuesday, April 30th. Raymond James decreased their price target on Harmonic from $19.00 to $18.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, January 30th. Finally, StockNews.com upgraded Harmonic from a "sell" rating to a "hold" rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Harmonic has an average rating of "Buy" and a consensus target price of $17.20.
Check Out Our Latest Research Report on HLIT
Harmonic Company Profile
(
Get Free Report)
Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.
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