Zacks: Analysts Anticipate Harmonic Inc (HLIT) Will Post Quarterly Sales of $96.47 Million

Equities analysts expect Harmonic Inc (NASDAQ:HLIT) to report sales of $96.47 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Harmonic’s earnings. The highest sales estimate is $97.30 million and the lowest is $95.60 million. Harmonic posted sales of $113.10 million in the same quarter last year, which indicates a negative year over year growth rate of 14.7%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, February 28th.

On average, analysts expect that Harmonic will report full-year sales of $96.47 million for the current year, with estimates ranging from $353.00 million to $355.10 million. For the next fiscal year, analysts forecast that the firm will post sales of $404.03 million per share, with estimates ranging from $390.00 million to $425.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Harmonic.

HLIT has been the subject of several recent analyst reports. Northland Securities set a $6.00 target price on shares of Harmonic and gave the stock a “buy” rating in a report on Tuesday, October 17th. Zacks Investment Research lowered shares of Harmonic from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Dougherty & Co reissued a “buy” rating and issued a $6.50 price target on shares of Harmonic in a research report on Monday, October 23rd. ValuEngine raised shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Finally, BidaskClub raised shares of Harmonic from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Harmonic presently has a consensus rating of “Hold” and an average target price of $5.06.

Harmonic (NASDAQ:HLIT) opened at $3.30 on Wednesday. Harmonic has a fifty-two week low of $2.80 and a fifty-two week high of $6.18. The company has a market cap of $268.20, a PE ratio of -3.24 and a beta of 0.88. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 0.56.

In other news, insider Neven Haltmayer sold 8,311 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $3.81, for a total value of $31,664.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bart Spriester sold 8,004 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $3.81, for a total transaction of $30,495.24. The disclosure for this sale can be found here. Insiders sold 22,156 shares of company stock valued at $84,414 over the last three months. 5.53% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in Harmonic by 1,620.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 30,971 shares of the communications equipment provider’s stock valued at $130,000 after acquiring an additional 29,171 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Harmonic by 41.0% during the third quarter. BNP Paribas Arbitrage SA now owns 49,992 shares of the communications equipment provider’s stock valued at $152,000 after acquiring an additional 14,536 shares in the last quarter. SG Americas Securities LLC raised its position in Harmonic by 193.7% during the fourth quarter. SG Americas Securities LLC now owns 36,761 shares of the communications equipment provider’s stock valued at $154,000 after acquiring an additional 24,244 shares in the last quarter. Spark Investment Management LLC bought a new position in Harmonic during the fourth quarter valued at approximately $161,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Harmonic during the third quarter valued at approximately $190,000. 95.60% 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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