Harmonic Inc. (NASDAQ:HLIT) SVP Ian Graham Sells 52,730 Shares

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

Harmonic Stock Performance

NASDAQ HLIT opened at $10.96 on Thursday. Harmonic Inc. has a 52-week low of $8.80 and a 52-week high of $18.43. The stock has a market cap of $1.23 billion, a PE ratio of 18.27 and a beta of 0.90. The firm has a 50-day moving average of $11.84 and a 200-day moving average of $11.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.78 and a current ratio of 1.09.

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

Hedge Funds Weigh In On Harmonic

Hedge funds have recently bought and sold shares of the business. Silverberg Bernstein Capital Management LLC bought a new position in Harmonic during the fourth quarter worth about $10,481,000. Raymond James Financial Services Advisors Inc. increased its holdings 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 valued at $1,184,000 after buying an additional 104,061 shares during the period. DigitalBridge Group Inc. increased its holdings in Harmonic by 126.4% in the 3rd quarter. DigitalBridge Group Inc. now owns 932,096 shares of the communications equipment provider’s stock valued at $8,976,000 after buying an additional 520,369 shares during the period. Jupiter Asset Management Ltd. increased its holdings 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 valued at $1,620,000 after buying an additional 119,815 shares during the period. Finally, Vanguard Group Inc. increased its holdings 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 valued at $90,489,000 after buying an additional 847,808 shares during the period. 99.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HLIT has been the subject of several recent research reports. Raymond James reduced their target price on shares of Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a report on Tuesday, January 30th. Rosenblatt Securities cut their price target on shares of Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, January 30th. StockNews.com upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. TheStreet upgraded shares of Harmonic from a “c” rating to a “b” rating in a research note on Monday, January 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of Harmonic in a research note on Tuesday, April 30th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $17.20.

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.