Harmonic - HLIT Stock Forecast, Price & News

Harmonic Inc., together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Cable Access. The Video segment sells video processing, production, and playout solutions and services to cable operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies. This segment's video processing appliance solutions include network management and application software, and hardware products, such as encoders, video servers, high-density stream processing systems, and edge processors. This segment also provides software-as-a-service (SaaS) solutions, which enables the packaging and delivery of streaming services, including live streaming, video-on-demand, catch-up TV, start-over TV, network-DVR, and cloud-DVR services through HTTP streaming to various device along with dynamic and personal ad insertion. The Cable Access segment offers CableOS software-based cable access solutions; and CableOS central cloud services primarily to cable operators. 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. The company also provides technical support and professional services, such as maintenance and support, consulting, implementation, program management, technical design and planning, building and site preparation, integration and equipment installation, end-to-end system testing, and training. It sells its products through its direct sales force, as well as through independent resellers and systems integrators. The company was incorporated in 1988 and is headquartered in San Jose, California.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Needham & Company LLC boosted their price objective on shares of Harmonic from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, August 2nd. Barclays increased their price target on shares of Harmonic from $13.00 to $14.00 and gave the company an "overweight" rating in a report on Tuesday, August 2nd. StockNews.com upgraded Harmonic from a "hold" rating to a "buy" rating in a research note on Wednesday, May 4th. Rosenblatt Securities lifted their target price on Harmonic from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Tuesday, August 2nd. Finally, Raymond James upped their price target on shares of Harmonic from $12.00 to $13.00 and gave the company an "outperform" rating in a research note on Tuesday, August 2nd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Harmonic presently has an average rating of "Buy" and an average target price of $15.17.

Harmonic Price Performance

Shares of NASDAQ:HLIT traded up $0.04 during trading on Friday, hitting $11.18. 6,746 shares of the company were exchanged, compared to its average volume of 892,155. Harmonic has a 1-year low of $8.25 and a 1-year high of $12.22. The company has a market capitalization of $1.17 billion, a P/E ratio of 34.81 and a beta of 1.02. The company has a quick ratio of 1.15, a current ratio of 1.52 and a debt-to-equity ratio of 0.42. The business's 50 day moving average is $9.58 and its 200-day moving average is $9.32.

Harmonic (NASDAQ:HLIT - Get Rating) last released its quarterly earnings data on Monday, August 1st. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.07. Harmonic had a return on equity of 10.46% and a net margin of 5.91%. The company had revenue of $157.45 million during the quarter, compared to the consensus estimate of $150.08 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The firm's revenue was up 38.8% compared to the same quarter last year. Equities analysts forecast that Harmonic will post 0.27 earnings per share for the current year.

Insider Activity at Harmonic

In other news, SVP Ian Graham sold 15,573 shares of the business's stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $9.89, for a total value of $154,016.97. Following the transaction, the senior vice president now owns 100,358 shares in the company, valued at approximately $992,540.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Ian Graham sold 15,573 shares of Harmonic stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $9.89, for a total transaction of $154,016.97. Following the transaction, the senior vice president now owns 100,358 shares of the company's stock, valued at $992,540.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Patrick Harshman sold 50,000 shares of the firm's stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $10.88, for a total value of $544,000.00. Following the transaction, the chief executive officer now owns 571,768 shares in the company, valued at $6,220,835.84. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by company insiders.