Harmonic Inc. (NASDAQ:HLIT - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $15.46 and last traded at $15.30, with a volume of 197430 shares. The stock had previously closed at $14.78.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Rosenblatt Securities reissued a "buy" rating and set a $18.00 price objective on shares of Harmonic in a report on Tuesday, October 15th. Barclays lifted their target price on shares of Harmonic from $14.00 to $20.00 and gave the stock an "overweight" rating in a report on Tuesday, July 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 target price on shares of Harmonic in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Harmonic currently has a consensus rating of "Buy" and a consensus price target of $18.50.
Check Out Our Latest Research Report on HLIT
Harmonic Stock Up 0.3 %
The company has a current ratio of 1.87, a quick ratio of 1.32 and a debt-to-equity ratio of 0.30. The business's fifty day moving average price is $14.04 and its 200 day moving average price is $12.55. The company has a market capitalization of $1.66 billion, a P/E ratio of 25.22 and a beta of 0.87.
Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings data on Monday, July 29th. The communications equipment provider reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. The firm had revenue of $138.70 million during the quarter, compared to analyst estimates of $133.67 million. Harmonic had a return on equity of 0.27% and a net margin of 10.22%. The business's revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 earnings per share. As a group, equities research analysts predict that Harmonic Inc. will post 0.44 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Harmonic news, SVP Neven Haltmayer sold 40,000 shares of the company's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $14.41, for a total transaction of $576,400.00. Following the transaction, the senior vice president now owns 122,211 shares of the company's stock, valued at approximately $1,761,060.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Harmonic
A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of Harmonic by 117.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,448 shares of the communications equipment provider's stock valued at $36,000 after acquiring an additional 1,323 shares during the last quarter. Dark Forest Capital Management LP increased its stake in shares of Harmonic by 7.2% in the 2nd quarter. Dark Forest Capital Management LP now owns 20,192 shares of the communications equipment provider's stock valued at $238,000 after acquiring an additional 1,362 shares during the last quarter. Rhumbline Advisers boosted its stake in Harmonic by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 320,516 shares of the communications equipment provider's stock worth $3,772,000 after acquiring an additional 1,382 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Harmonic by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 98,377 shares of the communications equipment provider's stock valued at $1,322,000 after purchasing an additional 1,462 shares during the period. Finally, ProShare Advisors LLC increased its stake in Harmonic by 7.4% in the first quarter. ProShare Advisors LLC now owns 22,256 shares of the communications equipment provider's stock valued at $299,000 after purchasing an additional 1,532 shares in the last quarter. 99.38% of the stock is owned by institutional investors.
About Harmonic
(
Get Free Report)
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.
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