Harmonic Inc. (NASDAQ:HLIT) SVP Sells $369,215.60 in Stock

Harmonic Inc. (NASDAQ:HLITGet Rating) SVP Neven Haltmayer sold 24,947 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $14.80, for a total value of $369,215.60. Following the completion of the sale, the senior vice president now directly owns 150,447 shares in the company, valued at approximately $2,226,615.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Harmonic Stock Performance

HLIT stock opened at $14.76 on Friday. Harmonic Inc. has a 1-year low of $8.25 and a 1-year high of $15.80. The firm has a market cap of $1.56 billion, a PE ratio of 37.85 and a beta of 0.87. The stock has a 50-day moving average price of $13.63 and a 200-day moving average price of $11.22. The company has a current ratio of 1.52, a quick ratio of 1.07 and a debt-to-equity ratio of 0.41.

Harmonic (NASDAQ:HLITGet Rating) last issued its earnings results on Monday, October 31st. The communications equipment provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Harmonic had a return on equity of 11.89% and a net margin of 6.80%. The business had revenue of $155.70 million during the quarter, compared to analyst estimates of $153.27 million. During the same period in the previous year, the company posted $0.03 EPS. The firm’s revenue was up 23.3% compared to the same quarter last year. As a group, equities research analysts expect that Harmonic Inc. will post 0.32 earnings per share for the current year.

Institutional Trading of Harmonic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC bought a new stake in Harmonic in the 1st quarter valued at about $209,000. Altshuler Shaham Ltd bought a new stake in Harmonic in the 3rd quarter valued at about $39,000. Captrust Financial Advisors increased its position in Harmonic by 411.4% in the 1st quarter. Captrust Financial Advisors now owns 3,866 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 3,110 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Harmonic in the 2nd quarter valued at about $43,000. Finally, Point72 Hong Kong Ltd bought a new stake in Harmonic in the 2nd quarter valued at about $65,000. 97.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HLIT. Needham & Company LLC raised their target price on Harmonic from $15.00 to $17.00 and gave the company a “buy” rating in a report on Friday, September 16th. Raymond James raised their price objective on Harmonic from $13.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, November 1st. TheStreet raised Harmonic from a “c+” rating to a “b+” rating in a research report on Monday, August 1st. StockNews.com lowered Harmonic from a “buy” rating to a “hold” rating in a research report on Thursday, November 3rd. Finally, Barclays lifted their price objective on Harmonic from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 1st. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Harmonic presently has a consensus rating of “Buy” and an average price target of $17.33.

Harmonic Company Profile

(Get Rating)

Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Cable Access. The Video segment sells video processing, production, and playout solutions and services to cable operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies.

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