Harmonic (HLIT) to Release Earnings on Monday

Harmonic (NASDAQ:HLIT) will release its earnings data after the market closes on Monday, April 29th. Analysts expect Harmonic to post earnings of ($0.01) per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings results on Monday, January 29th. The communications equipment provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.10 by $0.03. The firm had revenue of $167.10 million for the quarter, compared to analyst estimates of $158.98 million. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. Harmonic’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 EPS. On average, analysts expect Harmonic to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Harmonic Stock Performance

Harmonic stock opened at $9.68 on Monday. The stock’s 50 day moving average price is $12.68 and its 200 day moving average price is $11.77. The firm has a market capitalization of $1.08 billion, a PE ratio of 13.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.91 and a current ratio of 1.21. Harmonic has a one year low of $8.80 and a one year high of $18.43.

Analyst Upgrades and Downgrades

Several research firms recently commented on HLIT. StockNews.com raised Harmonic from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of Harmonic in a research report on Wednesday, April 17th. TheStreet raised Harmonic from a “c” rating to a “b” rating in a research report on Monday, January 29th. Raymond James cut their target price on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, January 30th. Finally, Rosenblatt Securities cut their target price on Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, January 30th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Harmonic currently has a consensus rating of “Buy” and a consensus target price of $17.20.

Insider Transactions at Harmonic

In other news, SVP Neven Haltmayer sold 14,747 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $13.68, for a total value of $201,738.96. Following the completion of the transaction, the senior vice president now owns 156,559 shares of the company’s stock, valued at $2,141,727.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Neven Haltmayer sold 14,747 shares of Harmonic stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $13.68, for a total transaction of $201,738.96. Following the transaction, the senior vice president now directly owns 156,559 shares of the company’s stock, valued at $2,141,727.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Nimrod Ben-Natan sold 100,000 shares of Harmonic stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $12.91, for a total value of $1,291,000.00. Following the transaction, the senior vice president now directly owns 302,214 shares in the company, valued at $3,901,582.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 150,000 shares of company stock valued at $1,917,122. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Belpointe Asset Management LLC grew its holdings in Harmonic by 2,615.0% during the first quarter. Belpointe Asset Management LLC now owns 3,258 shares of the communications equipment provider’s stock worth $48,000 after acquiring an additional 3,138 shares during the period. Advisor Group Holdings Inc. grew its holdings in Harmonic by 80.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,271 shares of the communications equipment provider’s stock worth $43,000 after acquiring an additional 1,459 shares during the period. Captrust Financial Advisors grew its holdings in Harmonic by 411.4% during the first quarter. Captrust Financial Advisors now owns 3,866 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 3,110 shares during the period. Tower Research Capital LLC TRC increased its stake in Harmonic by 239.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,178 shares of the communications equipment provider’s stock worth $69,000 after purchasing an additional 5,066 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Harmonic in the 2nd quarter worth about $65,000. 99.38% of the stock is owned by institutional investors and hedge funds.

Harmonic Company Profile

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.