William F. Reddersen Acquires 5,000 Shares of Harmonic Inc. (HLIT) Stock

Harmonic Inc. (NASDAQ:HLIT) Director William F. Reddersen acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The stock was purchased at an average cost of $3.99 per share, with a total value of $19,950.00. Following the acquisition, the director now directly owns 199,574 shares of the company’s stock, valued at approximately $796,300.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

NASDAQ HLIT opened at $4.00 on Tuesday. Harmonic Inc. has a 12 month low of $2.80 and a 12 month high of $5.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.10 and a current ratio of 1.28. The stock has a market capitalization of $336.60 million, a price-to-earnings ratio of -7.41 and a beta of 0.80.

Get Harmonic alerts:

Harmonic (NASDAQ:HLIT) last posted its earnings results on Monday, April 30th. The communications equipment provider reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.05. Harmonic had a negative net margin of 19.87% and a negative return on equity of 14.52%. The company had revenue of $90.10 million for the quarter, compared to analysts’ expectations of $88.36 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. Harmonic’s revenue for the quarter was up 8.7% compared to the same quarter last year. analysts predict that Harmonic Inc. will post -0.12 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in Harmonic by 1.1% in the first quarter. BlackRock Inc. now owns 10,614,738 shares of the communications equipment provider’s stock valued at $40,337,000 after buying an additional 115,823 shares during the last quarter. Raging Capital Management LLC lifted its position in Harmonic by 1.9% in the fourth quarter. Raging Capital Management LLC now owns 7,491,975 shares of the communications equipment provider’s stock valued at $31,466,000 after buying an additional 141,960 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Harmonic by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,293,250 shares of the communications equipment provider’s stock valued at $23,914,000 after buying an additional 86,394 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in Harmonic by 2.3% in the first quarter. Epoch Investment Partners Inc. now owns 4,836,440 shares of the communications equipment provider’s stock valued at $18,379,000 after buying an additional 109,202 shares during the last quarter. Finally, Royce & Associates LP lifted its position in Harmonic by 10.0% in the fourth quarter. Royce & Associates LP now owns 1,325,599 shares of the communications equipment provider’s stock valued at $5,568,000 after buying an additional 120,100 shares during the last quarter. 88.79% of the stock is currently owned by institutional investors.

HLIT has been the subject of a number of analyst reports. BidaskClub lowered shares of Harmonic from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 30th. Zacks Investment Research lowered shares of Harmonic from a “hold” rating to a “sell” rating in a report on Thursday, March 15th. Finally, Raymond James raised shares of Harmonic from an “underperform” rating to a “market perform” rating in a report on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Harmonic presently has an average rating of “Hold” and an average target price of $5.06.

Harmonic Company Profile

Harmonic Inc designs, manufactures, and sells video infrastructure products and system solutions 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.

Insider Buying and Selling by Quarter for Harmonic (NASDAQ:HLIT)

Leave a Reply

Your email address will not be published. Required fields are marked *