Harmonic (HLIT) to Release Earnings on Monday

Harmonic (NASDAQ:HLIT) will announce its earnings results after the market closes on Monday, April 29th. Analysts expect the company to announce earnings of ($0.01) per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Harmonic (NASDAQ:HLIT) last released its quarterly earnings data on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. The company had revenue of $167.10 million for the quarter, compared to the consensus estimate of $158.98 million. During the same quarter last year, the business posted $0.12 EPS. Harmonic’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts expect Harmonic to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Harmonic Trading Down 3.1 %

NASDAQ HLIT opened at $9.68 on Monday. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.02. Harmonic has a twelve month low of $8.80 and a twelve month high of $18.43. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 13.63 and a beta of 0.84. The business’s fifty day moving average is $12.68 and its 200 day moving average is $11.77.

Insiders Place Their Bets

In other news, SVP Neven Haltmayer sold 24,695 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total value of $285,968.10. Following the transaction, the senior vice president now directly owns 181,864 shares of the company’s stock, valued at approximately $2,105,985.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Neven Haltmayer sold 24,695 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total value of $285,968.10. Following the transaction, the senior vice president now directly owns 181,864 shares of the company’s stock, valued at approximately $2,105,985.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $12.91, for a total value of $1,291,000.00. Following the completion of the transaction, the senior vice president now directly owns 302,214 shares in the company, valued at $3,901,582.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,000 shares of company stock valued at $1,917,122. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Harmonic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HLIT. Captrust Financial Advisors increased its position in Harmonic by 411.4% in the 1st quarter. Captrust Financial Advisors now owns 3,866 shares of the communications equipment provider’s stock valued at $36,000 after buying an additional 3,110 shares in the last quarter. Advisor Group Holdings Inc. increased its position in Harmonic by 80.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 3,271 shares of the communications equipment provider’s stock valued at $43,000 after buying an additional 1,459 shares in the last quarter. Belpointe Asset Management LLC increased its position in Harmonic by 2,615.0% in the 1st quarter. Belpointe Asset Management LLC now owns 3,258 shares of the communications equipment provider’s stock valued at $48,000 after buying an additional 3,138 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Harmonic in the 2nd quarter valued at about $65,000. Finally, Tower Research Capital LLC TRC increased its position in Harmonic by 239.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,178 shares of the communications equipment provider’s stock valued at $69,000 after buying an additional 5,066 shares in the last quarter. 99.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. TheStreet raised Harmonic from a “c” rating to a “b” rating in a report on Monday, January 29th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Harmonic in a report on Wednesday, April 17th. Rosenblatt Securities cut their target price on Harmonic from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, January 30th. Raymond James cut their target price on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a report on Tuesday, January 30th. Finally, StockNews.com raised Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Harmonic has a consensus rating of “Buy” and a consensus price target of $17.20.

About Harmonic

Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.