Harmonic Inc (NASDAQ:HLIT) SVP Nimrod Ben-Natan Sells 237,500 Shares
Harmonic Inc (NASDAQ:HLIT) SVP Nimrod Ben-Natan sold 237,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $8.18, for a total value of $1,942,750.00. Following the transaction, the senior vice president now directly owns 407,952 shares of the company’s stock, valued at approximately $3,337,047.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Harmonic stock opened at $8.20 on Friday. Harmonic Inc has a 12-month low of $4.48 and a 12-month high of $8.39. The stock has a market cap of $736.30 million, a P/E ratio of 273.33, a P/E/G ratio of 7.06 and a beta of 0.90. The company has a quick ratio of 1.42, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $7.84 and its 200-day moving average is $6.80.
Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Monday, October 28th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. Harmonic had a positive return on equity of 6.36% and a negative net margin of 2.07%. The business had revenue of $115.73 million for the quarter, compared to analysts’ expectations of $114.88 million. On average, sell-side analysts expect that Harmonic Inc will post 0.13 EPS for the current year.
A number of equities research analysts have recently issued reports on HLIT shares. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Harmonic in a research note on Tuesday, November 12th. BidaskClub cut Harmonic from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. ValuEngine cut Harmonic from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Zacks Investment Research cut Harmonic from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Northland Securities reiterated a “buy” rating and set a $9.00 price objective on shares of Harmonic in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Harmonic presently has an average rating of “Hold” and an average target price of $9.00.
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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