Harmonic Inc. (NASDAQ:HLIT) SVP Ian Graham Sells 52,730 Shares

Harmonic Inc. (NASDAQ:HLIT - Get Free Report) SVP Ian Graham sold 52,730 shares of the firm's stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $10.95, for a total transaction of $577,393.50. Following the completion of the sale, the senior vice president now owns 63,616 shares in the company, valued at $696,595.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Harmonic Price Performance

Shares of NASDAQ:HLIT traded down $0.12 during trading on Monday, hitting $10.84. 1,106,032 shares of the company's stock were exchanged, compared to its average volume of 2,089,830. The business's 50-day simple moving average is $11.93 and its 200 day simple moving average is $11.79. Harmonic Inc. has a 52-week low of $8.80 and a 52-week high of $18.43. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 18.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 0.78.

Harmonic (NASDAQ:HLIT - Get Free Report) last released its quarterly earnings results on Monday, April 29th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.04). Harmonic had a net margin of 12.37% and a return on equity of 1.35%. The firm had revenue of $122.06 million during the quarter, compared to the consensus estimate of $121.70 million. During the same quarter in the prior year, the business posted $0.06 earnings per share. The firm's quarterly revenue was down 22.6% on a year-over-year basis. As a group, equities analysts predict that Harmonic Inc. will post 0.36 EPS for the current year.

Analyst Upgrades and Downgrades

HLIT has been the topic of several research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $18.00 price objective on shares of Harmonic in a research report on Tuesday, April 30th. TheStreet raised Harmonic from a "c" rating to a "b" rating in a research note on Monday, January 29th. Raymond James reduced their price objective on shares of Harmonic from $19.00 to $18.00 and set a "strong-buy" rating for the company in a research report on Tuesday, January 30th. StockNews.com upgraded Harmonic from a "sell" rating to a "hold" rating in a report on Wednesday, February 28th. Finally, Rosenblatt Securities dropped their price target on shares of Harmonic from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, January 30th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Harmonic presently has an average rating of "Buy" and a consensus price target of $17.20.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Harmonic by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 9,686,046 shares of the communications equipment provider's stock valued at $126,306,000 after purchasing an additional 289,443 shares in the last quarter. Trigran Investments Inc. increased its position in Harmonic by 38.5% during the third quarter. Trigran Investments Inc. now owns 9,636,809 shares of the communications equipment provider's stock worth $92,802,000 after buying an additional 2,677,338 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Harmonic by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 8,796,165 shares of the communications equipment provider's stock valued at $114,702,000 after purchasing an additional 990,425 shares during the period. Scopia Capital Management LP grew its position in shares of Harmonic by 78.5% in the third quarter. Scopia Capital Management LP now owns 5,649,163 shares of the communications equipment provider's stock valued at $54,401,000 after purchasing an additional 2,484,825 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Harmonic by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,389,426 shares of the communications equipment provider's stock valued at $44,198,000 after acquiring an additional 82,822 shares during the period. Hedge funds and other institutional investors own 99.38% of the company's stock.

Harmonic Company Profile

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.