Harmonic Inc. (NASDAQ:HLIT – Get Rating) – Equities researchers at Northland Capmk cut their Q2 2023 EPS estimates for shares of Harmonic in a research note issued to investors on Tuesday, January 31st. Northland Capmk analyst T. Savageaux now forecasts that the communications equipment provider will earn $0.09 per share for the quarter, down from their previous forecast of $0.13. The consensus estimate for Harmonic's current full-year earnings is $0.49 per share. Northland Capmk also issued estimates for Harmonic's Q3 2023 earnings at $0.14 EPS, Q4 2023 earnings at $0.19 EPS and FY2023 earnings at $0.46 EPS.
Get Harmonic alerts:Several other research firms have also issued reports on HLIT. Needham & Company LLC reissued a "buy" rating and issued a $19.00 target price on shares of Harmonic in a report on Tuesday. StockNews.com raised shares of Harmonic from a "hold" rating to a "buy" rating in a report on Wednesday. Barclays increased their price objective on shares of Harmonic from $17.00 to $20.00 and gave the company an "overweight" rating in a report on Tuesday. Raymond James cut their price objective on shares of Harmonic from $18.00 to $17.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price objective on shares of Harmonic in a report on Tuesday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Harmonic currently has a consensus rating of "Buy" and a consensus target price of $18.33.
Harmonic Trading Down 3.4 %
Harmonic stock opened at $14.29 on Friday. The firm has a 50 day moving average of $14.06 and a 200 day moving average of $12.99. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 54.96 and a beta of 0.92. Harmonic has a 12-month low of $8.25 and a 12-month high of $15.80. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 0.03.Insider Activity at Harmonic
In related news, SVP Nimrod Ben-Natan sold 50,000 shares of the firm's stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $14.90, for a total value of $745,000.00. Following the completion of the transaction, the senior vice president now directly owns 265,023 shares of the company's stock, valued at $3,948,842.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Neven Haltmayer sold 24,947 shares of the firm's stock in a transaction on Friday, November 18th. The stock was sold at an average price of $14.80, for a total value of $369,215.60. Following the completion of the sale, the senior vice president now directly owns 150,447 shares in the company, valued at $2,226,615.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Nimrod Ben-Natan sold 50,000 shares of the firm's stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $14.90, for a total value of $745,000.00. Following the completion of the sale, the senior vice president now owns 265,023 shares of the company's stock, valued at $3,948,842.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,987 shares of company stock valued at $1,195,212. 3.50% of the stock is owned by corporate insiders.
Institutional Trading of Harmonic
A number of institutional investors have recently bought and sold shares of HLIT. Captrust Financial Advisors lifted its position in Harmonic by 411.4% in the first quarter. Captrust Financial Advisors now owns 3,866 shares of the communications equipment provider's stock worth $36,000 after buying an additional 3,110 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in shares of Harmonic during the third quarter worth $39,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Harmonic during the second quarter worth $43,000. Point72 Hong Kong Ltd bought a new stake in shares of Harmonic during the second quarter worth $65,000. Finally, KBC Group NV bought a new stake in shares of Harmonic during the second quarter worth $77,000. 97.72% of the stock is currently owned by institutional investors.
Harmonic Company Profile
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Harmonic, Inc engages in the development and sale of video delivery software, products, system solutions, and services. It operates through the Video and Cable Access segments. The Video segment sells video processing and production and playout services to cable operators, satellite and telecommunications pay-TV service providers, and broadcast and media companies.
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