Harmonic Sees Unusually Large Options Volume (NASDAQ:HLIT)

Harmonic Inc. (NASDAQ:HLIT) was the target of unusually large options trading on Tuesday. Stock traders purchased 2,983 call options on the company. This is an increase of approximately 95% compared to the typical daily volume of 1,526 call options.

Analyst Ratings Changes

HLIT has been the topic of several analyst reports. Rosenblatt Securities boosted their target price on Harmonic from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Wall Street Zen cut Harmonic from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Needham & Company LLC boosted their price objective on Harmonic from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings cut Harmonic from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, March 6th. Finally, Barclays boosted their price objective on Harmonic from $11.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Harmonic currently has a consensus rating of “Hold” and a consensus target price of $16.60.

Insider Buying and Selling

In other news, SVP Neven Haltmayer sold 31,766 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $13.24, for a total transaction of $420,581.84. Following the transaction, the senior vice president owned 133,924 shares of the company’s stock, valued at approximately $1,773,153.76. The trade was a 19.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephanie Copeland sold 4,300 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $13.30, for a total value of $57,190.00. Following the transaction, the director directly owned 20,752 shares in the company, valued at approximately $276,001.60. This represents a 17.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.74% of the company’s stock.

Institutional Investors Weigh In On Harmonic

Several hedge funds have recently made changes to their positions in HLIT. iSAM Funds UK Ltd purchased a new stake in shares of Harmonic in the 3rd quarter worth $49,000. Global Retirement Partners LLC lifted its holdings in shares of Harmonic by 23,193.5% in the 4th quarter. Global Retirement Partners LLC now owns 7,221 shares of the communications equipment provider’s stock worth $71,000 after buying an additional 7,190 shares during the period. KBC Group NV lifted its holdings in shares of Harmonic by 130.7% in the 4th quarter. KBC Group NV now owns 7,476 shares of the communications equipment provider’s stock worth $74,000 after buying an additional 4,236 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Harmonic in the 1st quarter worth $75,000. Finally, Royal Bank of Canada lifted its holdings in shares of Harmonic by 64.6% in the 4th quarter. Royal Bank of Canada now owns 7,645 shares of the communications equipment provider’s stock worth $75,000 after buying an additional 3,000 shares during the period. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Harmonic Price Performance

HLIT opened at $14.66 on Thursday. The business has a fifty day moving average of $11.66 and a 200 day moving average of $10.55. Harmonic has a 52-week low of $7.80 and a 52-week high of $17.68. The company has a quick ratio of 2.03, a current ratio of 2.27 and a debt-to-equity ratio of 0.31. The stock has a market cap of $1.59 billion, a P/E ratio of -39.62 and a beta of 1.32.

Harmonic Company Profile

Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic’s product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.