Key Points
- Harmonic director Stephanie Copeland sold 4,300 shares on May 14 at an average price of $13.30, totaling about $57,190. After the sale, she still held 20,752 shares, a 17.16% reduction in her ownership stake.
- HLIT shares were down 0.5% and opened at $12.48, leaving the company with a market cap of about $1.35 billion. The stock has traded between $7.80 and $15.39 over the past 52 weeks.
- Harmonic’s latest earnings missed expectations, with Q4 EPS of $0.06 versus estimates of $0.10 and revenue far below forecasts. Analysts currently have a consensus Hold rating with an average price target of $16.60.
Harmonic Inc. (NASDAQ:HLIT - Get Free Report) Director Stephanie Copeland sold 4,300 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $13.30, for a total transaction of $57,190.00. Following the sale, the director directly owned 20,752 shares in the company, valued at $276,001.60. This trade represents a 17.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Harmonic Stock Down 0.5%
Harmonic stock opened at $12.48 on Tuesday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -33.73 and a beta of 1.24. The stock has a fifty day simple moving average of $10.31 and a two-hundred day simple moving average of $10.15. Harmonic Inc. has a 12 month low of $7.80 and a 12 month high of $15.39. The company has a current ratio of 2.27, a quick ratio of 2.03 and a debt-to-equity ratio of 0.31.
Harmonic (NASDAQ:HLIT - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.04). The company had revenue of ($53.02) million for the quarter, compared to analysts' expectations of $140.98 million. Harmonic had a negative net margin of 7.50% and a positive return on equity of 7.84%. The business's revenue was down 42.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. Harmonic has set its FY 2026 guidance at 0.460-0.630 EPS and its Q1 2026 guidance at 0.110-0.120 EPS. Equities analysts predict that Harmonic Inc. will post 0.35 EPS for the current fiscal year.
Institutional Investors Weigh In On Harmonic
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Harmonic by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 12,022,963 shares of the communications equipment provider's stock worth $118,907,000 after acquiring an additional 148,281 shares during the period. State Street Corp raised its stake in Harmonic by 1.8% during the 4th quarter. State Street Corp now owns 4,471,187 shares of the communications equipment provider's stock worth $44,220,000 after acquiring an additional 80,791 shares during the period. Dimensional Fund Advisors LP raised its stake in Harmonic by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,673,398 shares of the communications equipment provider's stock worth $32,987,000 after acquiring an additional 188,293 shares during the period. Alliancebernstein L.P. raised its stake in Harmonic by 2.9% during the 3rd quarter. Alliancebernstein L.P. now owns 2,406,945 shares of the communications equipment provider's stock worth $24,503,000 after acquiring an additional 68,921 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Harmonic by 2.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,196,469 shares of the communications equipment provider's stock worth $19,724,000 after acquiring an additional 54,157 shares during the period. Institutional investors own 99.38% of the company's stock.
Wall Street Analyst Weigh In
HLIT has been the topic of several recent research reports. Needham & Company LLC increased their price objective on shares of Harmonic from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Jefferies Financial Group reiterated a "hold" rating and issued a $15.00 price objective on shares of Harmonic in a research note on Tuesday, May 12th. Northland Securities set a $15.00 price objective on shares of Harmonic in a research note on Tuesday, May 12th. Weiss Ratings cut shares of Harmonic from a "hold (c)" rating to a "sell (d)" rating in a research note on Friday, March 6th. Finally, Rosenblatt Securities increased their price objective on shares of Harmonic from $16.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $16.60.
View Our Latest Report on Harmonic
About Harmonic
(
Get Free Report)
Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company's portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.
Harmonic's product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.
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