Harmonic Inc. (NASDAQ:HLIT) CEO Patrick Harshman Sells 97,526 Shares


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Harmonic Inc. (NASDAQ:HLIT) CEO Patrick Harshman sold 97,526 shares of the stock in a transaction that occurred on Friday, February 19th. The stock was sold at an average price of $7.93, for a total value of $773,381.18. Following the transaction, the chief executive officer now directly owns 1,179,784 shares in the company, valued at approximately $9,355,687.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Patrick Harshman also recently made the following trade(s):

  • On Friday, February 12th, Patrick Harshman sold 12,587 shares of Harmonic stock. The stock was sold at an average price of $7.70, for a total value of $96,919.90.

HLIT traded down $0.16 during trading hours on Tuesday, hitting $7.84. The company’s stock had a trading volume of 605,342 shares, compared to its average volume of 658,381. Harmonic Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $8.47. The company has a current ratio of 1.47, a quick ratio of 1.22 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $766.34 million, a PE ratio of -20.10, a PEG ratio of 2.32 and a beta of 0.83. The company has a 50-day simple moving average of $7.81 and a 200 day simple moving average of $6.72.

Harmonic (NASDAQ:HLIT) last posted its earnings results on Sunday, January 31st. The communications equipment provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.15 by $0.05. Harmonic had a negative return on equity of 7.13% and a negative net margin of 10.06%. Research analysts expect that Harmonic Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vantage Consulting Group Inc acquired a new stake in Harmonic in the 4th quarter valued at approximately $52,000. US Bancorp DE acquired a new stake in Harmonic in the 4th quarter valued at approximately $70,000. Aperio Group LLC acquired a new stake in Harmonic in the 3rd quarter valued at approximately $79,000. Profund Advisors LLC increased its position in Harmonic by 23.1% in the 4th quarter. Profund Advisors LLC now owns 12,727 shares of the communications equipment provider’s stock valued at $94,000 after acquiring an additional 2,386 shares during the period. Finally, Brinker Capital Investments LLC acquired a new stake in Harmonic in the 3rd quarter valued at approximately $113,000. Hedge funds and other institutional investors own 89.05% of the company’s stock.

A number of research analysts have commented on the company. Barclays increased their target price on Harmonic from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Thursday, January 14th. Zacks Investment Research downgraded Harmonic from a “hold” rating to a “sell” rating in a report on Thursday, February 4th. Stifel Nicolaus raised their price target on Harmonic from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, February 2nd. Raymond James raised Harmonic to a “buy” rating in a report on Wednesday, February 3rd. Finally, Needham & Company LLC raised their price target on Harmonic from $9.00 to $9.50 and gave the stock a “buy” rating in a report on Tuesday, February 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $8.18.

About Harmonic

Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services 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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