Harmonic (NASDAQ:HLIT) Issues Quarterly Earnings Results

Harmonic (NASDAQ:HLIT) issued its quarterly earnings results on Monday. The communications equipment provider reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04), Zacks reports. The business had revenue of $122.06 million for the quarter, compared to the consensus estimate of $121.70 million. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. The company’s quarterly revenue was down 22.6% compared to the same quarter last year. During the same period last year, the firm earned $0.06 earnings per share.

Harmonic Trading Up 2.2 %

Shares of Harmonic stock opened at $9.40 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 0.91. The business has a fifty day simple moving average of $12.17 and a two-hundred day simple moving average of $11.77. Harmonic has a 1 year low of $8.80 and a 1 year high of $18.43. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 13.24 and a beta of 0.84.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HLIT shares. TheStreet upgraded Harmonic from a “c” rating to a “b” rating in a report on Monday, January 29th. StockNews.com raised Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Rosenblatt Securities lowered their target price on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Harmonic in a research note on Tuesday. Finally, Raymond James lowered their price objective on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $17.20.

Insider Buying and Selling at Harmonic

In other news, SVP Neven Haltmayer sold 24,695 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $11.58, for a total transaction of $285,968.10. Following the completion of the sale, the senior vice president now owns 181,864 shares in the company, valued at approximately $2,105,985.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Neven Haltmayer sold 24,695 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total transaction of $285,968.10. Following the completion of the sale, the senior vice president now owns 181,864 shares in the company, valued at $2,105,985.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $12.91, for a total value of $1,291,000.00. Following the transaction, the senior vice president now owns 302,214 shares in the company, valued at approximately $3,901,582.74. The disclosure for this sale can be found here. Insiders have sold a total of 150,000 shares of company stock worth $1,917,122 over the last ninety days. Insiders own 2.20% of the company’s stock.

About Harmonic

Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.