Harmonic Inc. (NASDAQ:HLIT) SVP Nimrod Ben-Natan sold 59,520 shares of the stock in a transaction that occurred on Monday, February 22nd. The shares were sold at an average price of $7.97, for a total value of $474,374.40. Following the sale, the senior vice president now directly owns 476,880 shares of the company’s stock, valued at approximately $3,800,733.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Nimrod Ben-Natan also recently made the following trade(s):
- On Friday, February 19th, Nimrod Ben-Natan sold 40,480 shares of Harmonic stock. The shares were sold at an average price of $7.93, for a total transaction of $321,006.40.
Shares of HLIT traded down $0.16 on Tuesday, reaching $7.84. The stock had a trading volume of 605,342 shares, compared to its average volume of 658,381. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.22 and a current ratio of 1.47. Harmonic Inc. has a 12-month low of $4.44 and a 12-month high of $8.47. The firm has a market capitalization of $766.34 million, a price-to-earnings ratio of -20.10, a price-to-earnings-growth 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.
HLIT has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Harmonic from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, February 2nd. Needham & Company LLC raised their target price on Harmonic from $9.00 to $9.50 and gave the stock a “buy” rating in a research note on Tuesday, February 2nd. Zacks Investment Research lowered Harmonic from a “hold” rating to a “sell” rating in a research report on Thursday, February 4th. Barclays lifted their price objective on Harmonic from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 14th. Finally, Raymond James raised Harmonic to a “buy” rating in a research note on Wednesday, February 3rd. One investment 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. Harmonic currently has an average rating of “Hold” and an average target price of $8.18.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its stake in Harmonic by 5.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,629,739 shares of the communications equipment provider’s stock worth $122,894,000 after acquiring an additional 926,642 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Harmonic by 5.7% during the fourth quarter. BlackRock Inc. now owns 15,283,067 shares of the communications equipment provider’s stock valued at $112,942,000 after purchasing an additional 829,503 shares during the last quarter. Scopia Capital Management LP boosted its position in shares of Harmonic by 3.8% in the 4th quarter. Scopia Capital Management LP now owns 9,692,935 shares of the communications equipment provider’s stock worth $71,631,000 after purchasing an additional 359,003 shares in the last quarter. Millrace Asset Group Inc. purchased a new stake in shares of Harmonic in the 3rd quarter worth approximately $1,867,000. Finally, FMR LLC grew its stake in shares of Harmonic by 270.6% in the 1st quarter. FMR LLC now owns 290,357 shares of the communications equipment provider’s stock worth $1,574,000 after buying an additional 212,010 shares during the last quarter. 89.05% of the stock is owned by institutional investors.
Harmonic Company Profile
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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