William F. Reddersen Buys 5,000 Shares of Harmonic Inc. (HLIT) Stock
Harmonic Inc. (NASDAQ:HLIT) Director William F. Reddersen bought 5,000 shares of the stock in a transaction on Monday, May 21st. The stock was purchased at an average price of $3.99 per share, for a total transaction of $19,950.00. Following the completion of the purchase, the director now directly owns 199,574 shares in the company, valued at $796,300.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Harmonic opened at $4.00 on Wednesday, Marketbeat reports. The firm has a market capitalization of $340.86 million, a PE ratio of -7.41 and a beta of 0.80. Harmonic Inc. has a one year low of $2.80 and a one year high of $5.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.10 and a current ratio of 1.28.
Harmonic (NASDAQ:HLIT) last issued its quarterly earnings results on Monday, April 30th. The communications equipment provider reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.05. The firm had revenue of $90.10 million for the quarter, compared to analyst estimates of $88.36 million. Harmonic had a negative net margin of 19.87% and a negative return on equity of 14.52%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.14) EPS. research analysts expect that Harmonic Inc. will post -0.12 EPS for the current fiscal year.
Several research firms have issued reports on HLIT. BidaskClub upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. Raymond James upgraded shares of Harmonic from an “underperform” rating to a “market perform” rating in a research note on Tuesday, May 1st. Finally, Zacks Investment Research cut shares of Harmonic from a “hold” rating to a “sell” rating in a research note on Thursday, March 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.06.
Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.
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