Shares of Harmonic Inc (NASDAQ:HLIT) have received an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $5.33.
A number of research firms have recently issued reports on HLIT. BidaskClub upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. Zacks Investment Research downgraded shares of Harmonic from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd.
In related news, CFO Sanjay Kalra sold 10,455 shares of the business’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $3.53, for a total transaction of $36,906.15. Following the transaction, the chief financial officer now directly owns 39,198 shares in the company, valued at $138,368.94. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick Harshman sold 35,581 shares of the business’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $3.53, for a total transaction of $125,600.93. Following the transaction, the chief executive officer now owns 708,160 shares in the company, valued at $2,499,804.80. The disclosure for this sale can be found here. Insiders sold 56,234 shares of company stock worth $198,506 over the last quarter. 5.53% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Harmonic by 2.7% during the fourth quarter. BlackRock Inc. now owns 10,498,915 shares of the communications equipment provider’s stock worth $44,095,000 after buying an additional 271,392 shares during the last quarter. Raging Capital Management LLC increased its holdings in shares of Harmonic by 1.9% in the fourth quarter. Raging Capital Management LLC now owns 7,491,975 shares of the communications equipment provider’s stock valued at $31,466,000 after purchasing an additional 141,960 shares during the last quarter. State Street Corp increased its holdings in shares of Harmonic by 7.0% in the second quarter. State Street Corp now owns 1,961,470 shares of the communications equipment provider’s stock valued at $10,303,000 after purchasing an additional 129,086 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Harmonic by 10.0% in the fourth quarter. Royce & Associates LP now owns 1,325,599 shares of the communications equipment provider’s stock valued at $5,568,000 after purchasing an additional 120,100 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Harmonic by 8.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,012,912 shares of the communications equipment provider’s stock valued at $4,255,000 after purchasing an additional 76,741 shares during the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.
HLIT traded down $0.05 during trading on Monday, reaching $3.75. The company had a trading volume of 238,549 shares, compared to its average volume of 555,349. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 0.57. Harmonic has a 12 month low of $2.80 and a 12 month high of $6.03.
Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Wednesday, February 28th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.03). Harmonic had a negative net margin of 23.16% and a negative return on equity of 17.41%. The business had revenue of $100.97 million during the quarter, compared to analyst estimates of $96.47 million. equities analysts forecast that Harmonic will post -0.06 earnings per share for the current year.
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Harmonic Company Profile
Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.
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