Equities analysts predict that Harmonic Inc. (NASDAQ:HLIT) will report $96.47 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Harmonic’s earnings, with estimates ranging from $95.60 million to $97.30 million. Harmonic reported sales of $113.10 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 14.7%. The company is expected to issue its next earnings report on Tuesday, February 27th.

According to Zacks, analysts expect that Harmonic will report full-year sales of $96.47 million for the current year, with estimates ranging from $343.38 million to $355.10 million. For the next financial year, analysts forecast that the company will report sales of $404.03 million per share, with estimates ranging from $390.00 million to $425.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Harmonic.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings data on Monday, October 30th. The communications equipment provider reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.07. Harmonic had a negative net margin of 22.02% and a negative return on equity of 13.06%. The firm had revenue of $92.00 million during the quarter, compared to analysts’ expectations of $85.63 million. During the same period in the previous year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year.

A number of research firms have commented on HLIT. ValuEngine cut shares of Harmonic from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Zacks Investment Research raised Harmonic from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 13th. Dougherty & Co reissued a “buy” rating and set a $6.50 target price on shares of Harmonic in a report on Monday, October 23rd. Jefferies Group reissued a “hold” rating and set a $3.50 target price on shares of Harmonic in a report on Sunday, September 10th. Finally, Northland Securities set a $6.00 target price on Harmonic and gave the stock a “buy” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Harmonic currently has a consensus rating of “Hold” and a consensus price target of $5.06.

Harmonic (NASDAQ:HLIT) opened at $4.15 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.20 and a quick ratio of 0.99. Harmonic has a 52-week low of $2.80 and a 52-week high of $6.18.

In other news, insider Neven Haltmayer sold 8,311 shares of Harmonic stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $3.81, for a total transaction of $31,664.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bart Spriester sold 8,004 shares of Harmonic stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $3.81, for a total value of $30,495.24. The disclosure for this sale can be found here. Insiders have sold 25,933 shares of company stock valued at $98,389 in the last three months. Insiders own 4.27% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Royce & Associates LP raised its stake in Harmonic by 3.0% in the third quarter. Royce & Associates LP now owns 1,205,499 shares of the communications equipment provider’s stock valued at $3,677,000 after purchasing an additional 35,000 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Harmonic by 21.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 936,171 shares of the communications equipment provider’s stock valued at $2,856,000 after purchasing an additional 166,398 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Harmonic by 18.2% in the third quarter. JPMorgan Chase & Co. now owns 139,888 shares of the communications equipment provider’s stock valued at $419,000 after purchasing an additional 21,554 shares in the last quarter. Cowen Prime Services LLC raised its stake in Harmonic by 13.0% in the third quarter. Cowen Prime Services LLC now owns 217,503 shares of the communications equipment provider’s stock valued at $663,000 after purchasing an additional 24,988 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Harmonic in the third quarter valued at about $190,000. 96.00% of the stock is owned by institutional investors and hedge funds.

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About Harmonic

Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products, and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers.

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