Harmonic Inc. (NASDAQ:HLIT) CEO Patrick Harshman sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 9th. The stock was sold at an average price of $8.96, for a total transaction of $896,000.00. Following the transaction, the chief executive officer now directly owns 1,022,295 shares of the company’s stock, valued at approximately $9,159,763.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Harmonic stock opened at $8.93 on Wednesday. The stock has a market cap of $909.13 million, a P/E ratio of -892.11, a price-to-earnings-growth ratio of 8.88 and a beta of 0.79. The company has a fifty day simple moving average of $9.01 and a 200-day simple moving average of $8.21. Harmonic Inc. has a 12-month low of $5.20 and a 12-month high of $10.75. The company has a current ratio of 1.62, a quick ratio of 1.38 and a debt-to-equity ratio of 0.55.
Harmonic (NASDAQ:HLIT) last released its quarterly earnings data on Monday, August 2nd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. The business had revenue of $113.45 million during the quarter, compared to analysts’ expectations of $107.59 million. Harmonic had a negative net margin of 0.01% and a positive return on equity of 4.84%. The company’s revenue for the quarter was up 53.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) EPS. As a group, sell-side analysts forecast that Harmonic Inc. will post 0.07 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Harmonic from $9.50 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, August 3rd. Zacks Investment Research cut shares of Harmonic from a “buy” rating to a “hold” rating in a research report on Thursday, August 5th. Barclays raised their price target on shares of Harmonic from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 3rd. Finally, Raymond James raised their price target on shares of Harmonic from $9.00 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, August 3rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $10.63.
Harmonic, Inc engages in the development and sale of video delivery software, products, system solutions, and services. It operates through the Video and Cable Access segments. The Video segment sells video processing and production and playout services to cable operators, satellite and telecommunications pay-TV service providers, and broadcast and media companies.
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