In yesterday’s Wall Street session, Harmonic, Inc. (NASDAQ:HLIT) shares traded at $9.20, unchanged from the previous session.
HLIT stock price is now -25.54% away from the 50-day moving average and -20.60% away from the 200-day moving average. The market capitalization of the company currently stands at $1.03B.
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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 $1.44 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 $2.78 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 Communication Equipment Company, earnings per share came in at 0.12, beating analysts’ expectations of 0.08 by 0.04. 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.
