Harmonic Inc. (NASDAQ:HLIT) CFO Sanjay Kalra sold 5,841 shares of the company’s 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 $22,254.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Sanjay Kalra also recently made the following trade(s):

  • On Thursday, November 2nd, Sanjay Kalra sold 3,777 shares of Harmonic stock. The shares were sold at an average price of $3.70, for a total value of $13,974.90.

Shares of Harmonic Inc. (NASDAQ:HLIT) opened at $3.90 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.20 and a debt-to-equity ratio of 0.56. Harmonic Inc. has a 1-year low of $2.80 and a 1-year high of $6.18.

Harmonic (NASDAQ:HLIT) last issued its earnings results on Monday, October 30th. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $92.00 million for the quarter, compared to analysts’ expectations of $85.63 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The business’s revenue for the quarter was down 9.3% compared to the same quarter last year. analysts expect that Harmonic Inc. will post -0.51 earnings per share for the current year.

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HLIT has been the topic of several research analyst reports. Northland Securities set a $6.00 price objective on Harmonic and gave the company a “buy” rating in a research note on Tuesday, October 17th. Dougherty & Co reiterated a “buy” rating and issued a $6.50 price objective on shares of Harmonic in a research note on Monday, October 23rd. Zacks Investment Research upgraded Harmonic from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 13th. ValuEngine downgraded Harmonic from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $3.50 price objective on shares of Harmonic in a research note on Sunday, September 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $5.06.

A number of hedge funds have recently modified their holdings of HLIT. Prudential Financial Inc. raised its holdings in Harmonic by 1.0% during the 1st quarter. Prudential Financial Inc. now owns 132,054 shares of the communications equipment provider’s stock valued at $786,000 after acquiring an additional 1,360 shares during the period. OppenheimerFunds Inc. raised its holdings in Harmonic by 20.1% during the 1st quarter. OppenheimerFunds Inc. now owns 53,215 shares of the communications equipment provider’s stock valued at $317,000 after acquiring an additional 8,912 shares during the period. Principal Financial Group Inc. raised its holdings in Harmonic by 7.6% during the 1st quarter. Principal Financial Group Inc. now owns 618,410 shares of the communications equipment provider’s stock valued at $3,680,000 after acquiring an additional 43,838 shares during the period. Teachers Advisors LLC raised its holdings in Harmonic by 3.7% during the 1st quarter. Teachers Advisors LLC now owns 132,138 shares of the communications equipment provider’s stock valued at $786,000 after acquiring an additional 4,762 shares during the period. Finally, Legal & General Group Plc raised its holdings in Harmonic by 2.8% during the 1st quarter. Legal & General Group Plc now owns 132,227 shares of the communications equipment provider’s stock valued at $787,000 after acquiring an additional 3,588 shares during the period. 94.17% of the stock is currently owned by institutional investors and hedge funds.

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.

Insider Buying and Selling by Quarter for Harmonic (NASDAQ:HLIT)

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