Harmonic Inc. (NASDAQ:HLIT) SVP Sells $369,215.60 in Stock

Harmonic Inc. (NASDAQ:HLITGet Rating) SVP Neven Haltmayer sold 24,947 shares of the business’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $14.80, for a total value of $369,215.60. Following the sale, the senior vice president now owns 150,447 shares of the company’s stock, valued at approximately $2,226,615.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Harmonic Stock Up 2.6 %

HLIT stock opened at $14.76 on Friday. The business has a 50-day moving average of $13.63 and a 200-day moving average of $11.22. Harmonic Inc. has a fifty-two week low of $8.25 and a fifty-two week high of $15.80. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.52 and a quick ratio of 1.07. The stock has a market capitalization of $1.56 billion, a P/E ratio of 37.85 and a beta of 0.87.

Harmonic (NASDAQ:HLITGet Rating) last issued its quarterly earnings results on Monday, October 31st. The communications equipment provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.10 by $0.03. Harmonic had a return on equity of 11.89% and a net margin of 6.80%. The firm had revenue of $155.70 million during the quarter, compared to analysts’ expectations of $153.27 million. During the same period in the prior year, the firm posted $0.03 earnings per share. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Harmonic Inc. will post 0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HLIT has been the subject of a number of recent research reports. Needham & Company LLC boosted their target price on Harmonic from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, September 16th. Rosenblatt Securities upped their price objective on Harmonic from $17.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 19th. TheStreet raised Harmonic from a “c+” rating to a “b+” rating in a research note on Monday, August 1st. StockNews.com cut Harmonic from a “buy” rating to a “hold” rating in a research note on Thursday, November 3rd. Finally, Raymond James boosted their target price on Harmonic from $13.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, November 1st. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $17.33.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HLIT. Captrust Financial Advisors boosted its position in Harmonic by 411.4% during the first quarter. Captrust Financial Advisors now owns 3,866 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 3,110 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in Harmonic during the third quarter valued at approximately $39,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Harmonic during the second quarter valued at approximately $43,000. Point72 Hong Kong Ltd bought a new stake in Harmonic in the second quarter valued at approximately $65,000. Finally, KBC Group NV bought a new stake in Harmonic in the second quarter valued at approximately $77,000. 97.62% of the stock is owned by institutional investors and hedge funds.

Harmonic Company Profile

(Get Rating)

Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Cable Access. The Video segment sells video processing, production, and playout solutions and services to cable operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies.

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