Harmonic (NASDAQ:HLIT) issued its quarterly earnings results on Sunday. The communications equipment provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01, MarketWatch Earnings reports. Harmonic had a negative net margin of 10.06% and a negative return on equity of 7.13%. The company had revenue of $111.60 million for the quarter, compared to analyst estimates of $103.11 million. Harmonic’s revenue was up 42.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) earnings per share.

NASDAQ HLIT traded down $1.05 on Tuesday, hitting $7.06. 118,039 shares of the stock were exchanged, compared to its average volume of 661,089. Harmonic has a 52-week low of $4.49 and a 52-week high of $9.20. The stock has a fifty day moving average price of $8.05 and a two-hundred day moving average price of $7.45. The firm has a market capitalization of $713.67 million, a P/E ratio of -17.97, a P/E/G ratio of 2.32 and a beta of 0.83. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.22 and a current ratio of 1.47.

A number of equities research analysts have commented on HLIT shares. Zacks Investment Research upgraded shares of Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, March 24th. Stifel Nicolaus lifted their price target on Harmonic from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, February 2nd. Colliers Securities restated a “buy” rating and set a $11.00 price objective on shares of Harmonic in a research report on Monday, March 8th. Raymond James upgraded shares of Harmonic to a “buy” rating in a report on Wednesday, February 3rd. Finally, Barclays raised their target price on shares of Harmonic from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $8.71.

In other news, SVP Ian Graham sold 7,834 shares of the business’s stock in a transaction dated Wednesday, February 3rd. The stock was sold at an average price of $7.66, for a total transaction of $60,008.44. Following the sale, the senior vice president now owns 66,142 shares in the company, valued at $506,647.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick Harshman sold 12,587 shares of the company’s stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $7.70, for a total transaction of $96,919.90. Following the transaction, the chief executive officer now owns 1,111,641 shares in the company, valued at approximately $8,559,635.70. The disclosure for this sale can be found here. Insiders sold a total of 328,265 shares of company stock worth $2,688,322 in the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Harmonic Company Profile

Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. Its products enable customers to create, prepare, store, playout, and deliver a range of broadcast and streaming video services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.

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Earnings History for Harmonic (NASDAQ:HLIT)

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