Harmonic (HLIT) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of Harmonic (NASDAQ:HLIT) from a sell rating to a hold rating in a report issued on Wednesday.

A number of other equities analysts have also weighed in on HLIT. Zacks Investment Research lowered Harmonic from a hold rating to a sell rating in a research report on Thursday, March 15th. ValuEngine raised Harmonic from a sell rating to a hold rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $5.06.

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HLIT stock opened at $3.80 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 1.03. The stock has a market capitalization of $327.98, a PE ratio of -3.73 and a beta of 1.01. Harmonic has a 52-week low of $2.80 and a 52-week high of $6.05.

Harmonic (NASDAQ:HLIT) last posted its quarterly earnings results on Wednesday, February 28th. The communications equipment provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The company had revenue of $100.97 million during the quarter, compared to analysts’ expectations of $96.47 million. Harmonic had a negative return on equity of 17.41% and a negative net margin of 23.16%. research analysts expect that Harmonic will post -0.06 earnings per share for the current year.

In other Harmonic news, insider Neven Haltmayer sold 10,198 shares of the business’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $3.53, for a total value of $35,998.94. Following the completion of the transaction, the insider now owns 94,609 shares of the company’s stock, valued at approximately $333,969.77. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sanjay Kalra sold 10,455 shares of the business’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $3.53, for a total value of $36,906.15. Following the completion of the transaction, the chief financial officer now directly owns 39,198 shares of the company’s stock, valued at approximately $138,368.94. The disclosure for this sale can be found here. In the last three months, insiders sold 56,234 shares of company stock valued at $198,506. 4.27% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in shares of Harmonic by 1,620.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 30,971 shares of the communications equipment provider’s stock valued at $130,000 after purchasing an additional 29,171 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Harmonic by 41.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 49,992 shares of the communications equipment provider’s stock valued at $152,000 after purchasing an additional 14,536 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Harmonic by 193.7% during the 4th quarter. SG Americas Securities LLC now owns 36,761 shares of the communications equipment provider’s stock valued at $154,000 after purchasing an additional 24,244 shares during the last quarter. Spark Investment Management LLC purchased a new stake in shares of Harmonic during the 4th quarter valued at about $161,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Harmonic during the 3rd quarter valued at about $190,000. 91.77% of the stock is owned by hedge funds and other institutional investors.

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Harmonic Company Profile

Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones.

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