Harmonic Inc. (NASDAQ:HLIT) SVP Sells $577,393.50 in Stock

Harmonic Inc. (NASDAQ:HLIT) SVP Ian Graham sold 52,730 shares of Harmonic stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $10.95, for a total value of $577,393.50. Following the sale, the senior vice president now directly owns 63,616 shares in the company, valued at $696,595.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Harmonic Price Performance

Shares of HLIT traded down $0.12 on Monday, hitting $10.84. The company’s stock had a trading volume of 1,106,032 shares, compared to its average volume of 2,089,830. The company has a market capitalization of $1.22 billion, a PE ratio of 18.27 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 0.78. Harmonic Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $18.43. The company has a 50 day moving average price of $11.98 and a 200 day moving average price of $11.79.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings data on Monday, April 29th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). Harmonic had a return on equity of 1.35% and a net margin of 12.37%. The company had revenue of $122.06 million during the quarter, compared to the consensus estimate of $121.70 million. During the same quarter last year, the firm earned $0.06 EPS. The business’s revenue for the quarter was down 22.6% on a year-over-year basis. On average, research analysts anticipate that Harmonic Inc. will post 0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HLIT. Needham & Company LLC reissued a “buy” rating and set a $18.00 target price on shares of Harmonic in a research report on Tuesday, April 30th. TheStreet raised 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. Raymond James decreased their price objective on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a report on Tuesday, January 30th. Finally, Rosenblatt Securities decreased their price objective on Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $17.20.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Silverberg Bernstein Capital Management LLC bought a new position in Harmonic in the 4th quarter worth approximately $10,481,000. Raymond James Financial Services Advisors Inc. raised its position in Harmonic by 551.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 122,937 shares of the communications equipment provider’s stock worth $1,184,000 after purchasing an additional 104,061 shares during the last quarter. DigitalBridge Group Inc. raised its position in Harmonic by 126.4% in the 3rd quarter. DigitalBridge Group Inc. now owns 932,096 shares of the communications equipment provider’s stock worth $8,976,000 after purchasing an additional 520,369 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in Harmonic by 247.7% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 168,194 shares of the communications equipment provider’s stock worth $1,620,000 after purchasing an additional 119,815 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Harmonic by 9.9% in the 3rd quarter. Vanguard Group Inc. now owns 9,396,603 shares of the communications equipment provider’s stock worth $90,489,000 after purchasing an additional 847,808 shares during the last quarter. Institutional investors own 99.38% of the company’s stock.

Harmonic Company Profile

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.