Harmonic Inc (NASDAQ:HLIT) – Equities research analysts at Jefferies Group issued their Q3 2019 earnings per share (EPS) estimates for shares of Harmonic in a research report issued on Monday. Jefferies Group analyst G. Notter expects that the communications equipment provider will earn ($0.01) per share for the quarter. Jefferies Group also issued estimates for Harmonic’s Q4 2019 earnings at $0.02 EPS.
Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Wednesday, February 28th. The communications equipment provider reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Harmonic had a negative net margin of 23.16% and a negative return on equity of 17.41%. The company had revenue of $100.97 million for the quarter, compared to analysts’ expectations of $96.47 million.
Shares of Harmonic (NASDAQ HLIT) traded down $0.03 during trading hours on Wednesday, reaching $3.72. 172,594 shares of the company were exchanged, compared to its average volume of 570,091. The company has a market capitalization of $311.16, a PE ratio of -3.68 and a beta of 1.01. Harmonic has a 12-month low of $2.80 and a 12-month high of $6.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 1.03.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in shares of Harmonic by 1,620.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 30,971 shares of the communications equipment provider’s stock worth $130,000 after buying an additional 29,171 shares during the period. SG Americas Securities LLC boosted its position in shares of Harmonic by 193.7% in 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 during the period. Spark Investment Management LLC bought a new position in shares of Harmonic in the fourth quarter valued at approximately $161,000. Voya Investment Management LLC boosted its position in shares of Harmonic by 12.1% in the second quarter. Voya Investment Management LLC now owns 43,910 shares of the communications equipment provider’s stock valued at $231,000 after acquiring an additional 4,742 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Harmonic by 41.0% in 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 during the period. 91.77% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Patrick Harshman sold 35,581 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $3.53, for a total transaction of $125,600.93. Following the sale, the chief executive officer now directly owns 708,160 shares of the company’s stock, valued at $2,499,804.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Neven Haltmayer sold 10,198 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $3.53, for a total transaction of $35,998.94. Following the sale, the insider now directly owns 94,609 shares in the company, valued at $333,969.77. The disclosure for this sale can be found here. Insiders have sold 56,234 shares of company stock worth $198,506 over the last ninety days. Insiders own 5.53% of the company’s stock.
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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