Harmonic (NASDAQ:HLIT – Get Free Report) announced its quarterly earnings results on Monday. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04), Zacks reports. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. The business had revenue of $122.06 million during the quarter, compared to analysts’ expectations of $121.70 million. During the same period last year, the company earned $0.06 EPS. The firm’s revenue for the quarter was down 22.6% on a year-over-year basis.
Harmonic Stock Performance
Harmonic stock opened at $11.40 on Tuesday. Harmonic has a 12-month low of $8.80 and a 12-month high of $18.43. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 0.91. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 13.24 and a beta of 0.84. The firm’s fifty day moving average price is $12.17 and its 200 day moving average price is $11.77.
Insider Buying and Selling at Harmonic
In related news, SVP Neven Haltmayer sold 24,695 shares of the 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 completion of the transaction, the senior vice president now owns 181,864 shares of the company’s stock, valued at $2,105,985.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Neven Haltmayer sold 24,695 shares of Harmonic stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $11.58, for a total value of $285,968.10. Following the completion of the sale, the senior vice president now owns 181,864 shares in the company, valued at $2,105,985.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the transaction, the senior vice president now owns 302,214 shares in the company, valued at $3,901,582.74. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock valued at $1,917,122 in the last ninety days. Insiders own 2.20% of the company’s stock.
Analyst Ratings Changes
View Our Latest Analysis on Harmonic
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.
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