Harmonic (HLIT) Set to Announce Earnings on Monday

Harmonic (NASDAQ:HLIT) will be posting its quarterly earnings results after the market closes on Monday, April 29th. Analysts expect Harmonic to post earnings of ($0.01) per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings data on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $158.98 million. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. Harmonic’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.12 EPS. On average, analysts expect Harmonic to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Harmonic Price Performance

Shares of NASDAQ HLIT opened at $9.20 on Friday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 12.96 and a beta of 0.84. The business has a 50-day moving average of $12.25 and a 200-day moving average of $11.74. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 0.91. Harmonic has a fifty-two week low of $8.80 and a fifty-two week high of $18.43.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HLIT. Raymond James decreased their price objective on Harmonic from $19.00 to $18.00 and set a “strong-buy” rating for the company in a report on Tuesday, January 30th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Harmonic in a report on Wednesday, April 17th. StockNews.com upgraded Harmonic from a “sell” rating to a “hold” rating in a report on Wednesday, February 28th. Rosenblatt Securities reduced their price target on Harmonic from $18.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, January 30th. Finally, TheStreet upgraded Harmonic from a “c” rating to a “b” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Harmonic has a consensus rating of “Buy” and a consensus target price of $17.20.

Insider Transactions at Harmonic

In other news, SVP Neven Haltmayer sold 10,558 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $13.11, for a total transaction of $138,415.38. Following the completion of the sale, the senior vice president now owns 171,306 shares in the company, valued at $2,245,821.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, SVP Neven Haltmayer sold 10,558 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $13.11, for a total transaction of $138,415.38. Following the completion of the sale, the senior vice president now owns 171,306 shares in the company, valued at $2,245,821.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Nimrod Ben-Natan sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $12.91, for a total value of $1,291,000.00. Following the sale, the senior vice president now owns 302,214 shares of the company’s stock, valued at approximately $3,901,582.74. The disclosure for this sale can be found here. Insiders sold a total of 150,000 shares of company stock worth $1,917,122 over the last quarter. Company insiders own 2.20% of the company’s stock.

About Harmonic

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.