Harmonic Inc. (NASDAQ:HLIT) CFO Sanjay Kalra sold 5,841 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $3.81, for a total value of $22,254.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Sanjay Kalra also recently made the following trade(s):
- On Thursday, November 2nd, Sanjay Kalra sold 3,777 shares of Harmonic stock. The stock was sold at an average price of $3.70, for a total value of $13,974.90.
Shares of Harmonic Inc. (NASDAQ:HLIT) opened at $4.05 on Tuesday. Harmonic Inc. has a 12-month low of $2.80 and a 12-month high of $6.18. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 0.56.
Harmonic (NASDAQ:HLIT) last released its quarterly earnings data on Monday, October 30th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. The firm had revenue of $92.00 million during the quarter, compared to analysts’ expectations of $85.63 million. Harmonic had a negative return on equity of 13.06% and a negative net margin of 22.02%. The business’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) earnings per share. sell-side analysts predict that Harmonic Inc. will post -0.51 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royce & Associates LP raised its holdings in Harmonic by 3.0% during the third quarter. Royce & Associates LP now owns 1,205,499 shares of the communications equipment provider’s stock valued at $3,677,000 after buying an additional 35,000 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Harmonic by 21.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 936,171 shares of the communications equipment provider’s stock valued at $2,856,000 after buying an additional 166,398 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Harmonic by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 139,888 shares of the communications equipment provider’s stock valued at $419,000 after buying an additional 21,554 shares in the last quarter. Cowen Prime Services LLC raised its holdings in Harmonic by 13.0% during the third quarter. Cowen Prime Services LLC now owns 217,503 shares of the communications equipment provider’s stock valued at $663,000 after buying an additional 24,988 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Harmonic during the third quarter valued at about $190,000. Institutional investors own 96.00% of the company’s stock.
Several analysts have recently commented on HLIT shares. Dougherty & Co reaffirmed a “buy” rating and issued a $6.50 target price on shares of Harmonic in a research report on Monday, October 23rd. Northland Securities set a $6.00 target price on Harmonic and gave the stock a “buy” rating in a research report on Tuesday, October 17th. Zacks Investment Research raised Harmonic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Jefferies Group reissued a “hold” rating and set a $3.50 price objective on shares of Harmonic in a research report on Sunday, September 10th. Finally, ValuEngine cut Harmonic from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Harmonic currently has a consensus rating of “Hold” and an average target price of $5.06.
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Harmonic Company Profile
Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products, and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers.
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