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

Harmonic Inc. (NASDAQ:HLIT) SVP Ian Graham sold 52,730 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $10.95, for a total transaction of $577,393.50. Following the transaction, the senior vice president now owns 63,616 shares in the company, valued at $696,595.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Harmonic Stock Up 0.1 %

Shares of NASDAQ HLIT opened at $10.85 on Wednesday. Harmonic Inc. has a 1 year low of $8.80 and a 1 year high of $18.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.78 and a current ratio of 1.09. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 18.08 and a beta of 0.90. The stock’s 50-day simple moving average is $11.88 and its 200-day simple moving average is $11.79.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HLIT. Rosenblatt Securities lowered their price target on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Raymond James reduced their price objective on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a research note on Tuesday, January 30th. StockNews.com raised shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. TheStreet upgraded shares of Harmonic from a “c” rating to a “b” rating in a report on Monday, January 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price objective on shares of Harmonic in a research note on Tuesday, April 30th. One 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $17.20.

Institutional Trading of Harmonic

Several institutional investors have recently made changes to their positions in HLIT. Vanguard Group Inc. lifted its stake in shares of Harmonic by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 9,686,046 shares of the communications equipment provider’s stock worth $126,306,000 after buying an additional 289,443 shares during the last quarter. Trigran Investments Inc. raised its position in shares of Harmonic by 38.5% during the third quarter. Trigran Investments Inc. now owns 9,636,809 shares of the communications equipment provider’s stock worth $92,802,000 after acquiring an additional 2,677,338 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Harmonic by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 8,796,165 shares of the communications equipment provider’s stock valued at $114,702,000 after acquiring an additional 990,425 shares during the last quarter. Scopia Capital Management LP boosted its stake in Harmonic by 78.5% during the 3rd quarter. Scopia Capital Management LP now owns 5,649,163 shares of the communications equipment provider’s stock worth $54,401,000 after acquiring an additional 2,484,825 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Harmonic by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,389,426 shares of the communications equipment provider’s stock valued at $44,198,000 after acquiring an additional 82,822 shares during the period. 99.38% of the stock is currently owned by institutional investors and hedge funds.

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.