The stock of Harmonic, Inc. (NASDAQ:HLIT) last traded at $10.94, down -2.50% from the previous session.
HLIT stock price is now -15.96% away from the 50-day moving average and -8.43% away from the 200-day moving average. The market capitalization of the company currently stands at $1.22B.
With the price target enhanced from $15 to $16, Raymond James Upgraded its rating from Outperform to Strong Buy for Harmonic, Inc. (NASDAQ: HLIT). On January 09, 2023, Jefferies Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock increasing its target price from $14.25 to quote $19, while ‘Rosenblatt’ rates the stock as ‘Buy’
In other news, Haltmayer Neven, SVP, Video R&D sold 14,747 shares of the company’s stock on Feb 16 ’24. The stock was sold for $201,676 at an average price of $13.68. Upon completion of the transaction, the SVP, Video R&D now directly owns 156,559 shares in the company, valued at $1.71 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 05 ’24, SVP & GM, Broadband Business Ben-Natan Nimrod sold 100,000 shares of the business’s stock. A total of $1,291,120 was realized by selling the stock at an average price of $12.91. This leaves the insider owning 302,214 shares of the company worth $3.31 million. A total of 2.69% of the company’s stock is owned by insiders.
During the past 12 months, Harmonic, Inc. has had a low of $8.80 and a high of $18.43. As of last week, the company has a debt-to-equity ratio of 0.36, a current ratio of 1.21, and a quick ratio of 0.90. According to the stock market information, the enterprise value for the company is $1.33B, which is based on a 15.13 price-to-earnings ratio, a 0.39 price-to-earnings-growth ratio, and a beta of 0.86. The fifty day moving average price for HLIT is $13.02 and a two-hundred day moving average price translates $11.95 for the stock.
The latest earnings results from Harmonic, Inc. (NASDAQ: HLIT) was released for Dec, 2023. According to the Communication Equipment Company, earnings per share came in at $0.13, beating analysts’ expectations of $0.1 by 0.03. This compares to $0.05 EPS in the same period last year. The net profit margin was 13.82% and return on equity was 22.06% for HLIT. The company reported revenue of $167.09 million for the quarter, compared to $164.33 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.68 percent. For the current quarter, analysts expect HLIT to generate $121.7M in revenue.
Harmonic, Inc.(HLIT) Company Profile
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. The Video segment sells video processing, production, and playout solutions and services to cable operators, and satellite and telco Pay-TV service providers, as well as to broadcast and media, including streaming media companies. Its video processing appliance solutions include network management and application software, and hardware products, such as encoders, video servers, high-density stream processing systems, and edge processors. This segment also provides VOS360 SaaS platform that provides both streaming and channel origination and distribution services; and software-as-a-service (SaaS) solutions, which enables the packaging and delivery of streaming services, including live streaming, VOD, catch-up TV, start-over TV, network-DVR and cloud-DVR services through HTTP streaming to various device along with dynamic and personal ad insertion. The company also provides technical support and professional services, such as maintenance and support, consulting, implementation, integration services, program management, technical design and planning, building and site preparation, integration and equipment installation, end-to-end system testing, and training, as well as SaaS-related support and deployment. It sells its products through its direct sales force, as well as through independent resellers and systems integrators. The company was incorporated in 1988 and is headquartered in San Jose, California.
