Harmonic Inc (NASDAQ:HLIT) – Research analysts at Jefferies Group issued their Q1 2018 EPS estimates for shares of Harmonic in a report issued on Monday, March 12th, Zacks Investment Research reports. Jefferies Group analyst G. Notter forecasts that the communications equipment provider will earn ($0.12) per share for the quarter. Jefferies Group also issued estimates for Harmonic’s Q2 2018 earnings at ($0.08) EPS, Q3 2018 earnings at ($0.05) EPS, Q4 2018 earnings at ($0.01) EPS, FY2018 earnings at ($0.21) EPS, Q1 2019 earnings at ($0.05) EPS, Q2 2019 earnings at ($0.02) EPS and FY2019 earnings at ($0.07) EPS.
Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Wednesday, February 28th. The communications equipment provider reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.03). Harmonic had a negative return on equity of 17.41% and a negative net margin of 23.16%. The company had revenue of $100.97 million for the quarter, compared to the consensus estimate of $96.47 million.
Other equities analysts have also issued research reports about the company. BidaskClub upgraded Harmonic from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. Zacks Investment Research lowered Harmonic from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $5.06.
Harmonic stock traded down $0.15 during mid-day trading on Thursday, reaching $3.75. 407,214 shares of the company were exchanged, compared to its average volume of 495,346. Harmonic has a 12 month low of $2.80 and a 12 month high of $6.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 1.03. The firm has a market cap of $315.37, a PE ratio of -6.94 and a beta of 0.79.
Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its holdings in shares of Harmonic by 1,620.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 30,971 shares of the communications equipment provider’s stock valued at $130,000 after purchasing an additional 29,171 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Harmonic by 193.7% in the 4th quarter. SG Americas Securities LLC now owns 36,761 shares of the communications equipment provider’s stock valued at $154,000 after purchasing an additional 24,244 shares in the last quarter. Spark Investment Management LLC acquired a new stake in shares of Harmonic in the 4th quarter valued at $161,000. Voya Investment Management LLC boosted its holdings in shares of Harmonic by 12.1% during the 2nd quarter. Voya Investment Management LLC now owns 43,910 shares of the communications equipment provider’s stock valued at $231,000 after acquiring an additional 4,742 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Harmonic by 41.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 49,992 shares of the communications equipment provider’s stock valued at $152,000 after acquiring an additional 14,536 shares in the last quarter. 91.77% of the stock is currently owned by hedge funds and other institutional investors.
In other Harmonic news, CEO Patrick Harshman sold 35,581 shares of the firm’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $3.53, for a total value of $125,600.93. Following the sale, the chief executive officer now owns 708,160 shares of the company’s stock, valued at approximately $2,499,804.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Neven Haltmayer sold 10,198 shares of the firm’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $3.53, for a total value of $35,998.94. Following the completion of the sale, the insider now directly owns 94,609 shares in the company, valued at approximately $333,969.77. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,234 shares of company stock worth $198,506. Company insiders own 4.27% of the company’s stock.
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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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