“In a research note distributed to investors on Friday, Needham & Company LLC stated that it has increased its price objective for Harmonic (NASDAQ: HLIT) from $15.00 to $17.00. This information was obtained from Benzinga. The company’s stock, which is engaged in the distribution of various pieces of communication technology, has been assigned a “buy” recommendation by the brokerage firm. The target price that has been established for Needham & Company LLC stock means the potential for a gain of 51.79% in comparison to the current price of the stock. Regarding HLIT, different opinions from different brokerage firms have also been presented. In a research note issued by Barclays on Tuesday, August 2, Barclays increased their target price for Harmonic from $13.00 to $14.00 and categorized the stock as “overweight.”
In a research note on August 2, Raymond James increased their target price for Harmonic from $12.00 to $13.00 and rated the business as having an “outperform” rating. In a report on the firm’s performance published on August 1, TheStreet raised Harmonic’s rating from “c+” to “b+” based on the information included in the study. Last but not least, on Tuesday, August 2, Rosenblatt Securities raised their price objective on Harmonic from $15.00 to $17.00 and upgraded the stock from a “buy” rating to a “buy buy” recommendation. Previously, the stock had been rated “buy.” One company analyst assigned a buy rating to the stock, and six other industry professionals urged investors to purchase the stock. According to Bloomberg, the firm is now rated “Buy” on average, and the consensus price objective for the company is $15.50.
This information was obtained from the company’s stock analysis. On Friday morning, the price of a share of Harmonic was $11.20 when trading got underway. The company has a P/E ratio of 35.00 and a beta value of 0.99, and its market capitalization is now valued at $1.17 billion. In addition, the beta value of the company is 0.99. The Harmonic reached its all-time high of $12.22 during the last year, while its all-time low was $8.25 during the same period. The debt-to-equity ratio is 0.42, the current ratio is 1.52, and the quick ratio is 1.15. All of these numbers are relative to one another. These numbers can all be understood concerning one another. According to the simple moving average calculated over the past 200 days, the stock’s current price is $9.62, while the 50-day simple moving average is $10.71.
On August 1, all interested parties were given access to the most recent quarterly report compiled by Harmonic (NASDAQ: HLIT). The communications equipment maker reported earnings of $0.16 per share for the quarter, which is $0.07 more than the analysts’ average projection of $0.09 per share for the company’s quarterly results. The return on equity that Harmonic could accomplish was 10.46 percent, and its net margin was 5.91 percent. The sales for the company for the quarter came in at $157.45 million, which was much more than the average projection of $150.08 million, which analysts made. The corporation made a profit of $0.001 per share over the same period the year before compared to the current year. The corporation’s revenue saw a 38.8% increase compared to the previous fiscal year. According to the forecasts of stock research specialists, Harmonic will rake in a profit of $0.27 per share during this year.
On August 3, Patrick Harshman, the Chief Executive Officer of this company, sold 50,000 shares of the company’s equity. This is another occurrence that is relevant to this matter. The price of each share, which was sold for a total of $544,000.00, came out to an average of $10.88, which led to the generation of a total income of $544,000.00. As a result of the transaction, the company’s Chief Executive Officer now owns 571,768 shares of the company’s stock. The current market value of these shares is $6,220,835.84. Follow the link that was provided in the preceding sentence. You can access the transaction report presented to the Securities and Exchange Commission. On August 25, the Chief Financial Officer of the firm, Sanjay Kalra, sold 53,585 company stock. This is another occurrence that is relevant to this matter.
There were 608,725.60 transactions involving 608,725.60 worth of the company’s stock, with each share of stock changing hands for an average price of $11.36. Following the completion of the sale, the chief financial officer now has 96,419 shares of the company’s stock in his possession. The total worth of these shares is approximately $1,095,319.84. An SEC filing was used to announce the transaction to the public; that document can be accessed on this page. It was announced that the purchase had been completed. Additionally, on August 3, Patrick Harshman, the company’s Chief Executive Officer, sold 50,000 of the company’s shares of stock. The price of each share, which was sold for a total of $544,000.00, came out to an average of $10.88, which led to the generation of a total income of $544,000.00.
Following the transaction’s conclusion, the company’s chief executive officer is now the direct owner of a total of 571,768 shares of the company’s stock, which have a combined value of $6,220,835.84. Disclosures that are related to the sale might be found in this section of the website. 3.50 company insiders own percent of the total shares now outstanding in the corporation. In the most recent trading activity, several hedge funds have been active participants in buying and selling HLIT shares. Verition Fund Management LLC made a new investment in Harmonic during the second quarter of 2018 worth 437 thousand dollars. During the second quarter, Legal & General Group Plc was able to enhance the proportion of Harmonic’s shareholding that it was responsible for by 1.5%.
Legal & General Group Plc increased its holdings in the communications equipment provider’s stock by 3,639 during the most recent quarter. As a result of these purchases, the company now has 243,270 shares of the company stock, which has a street value of about $2120,000. During the second quarter, ExodusPoint Capital Management LP had a 432.3% growth in the size of its harmonic holdings as compared to the previous quarter. Following the acquisition of an additional 200,689 shares during the most recent quarter, ExodusPoint Capital Management LP now owns 247,116 shares of the communications equipment provider’s stock, valued at $2,142,000. This brings the total number of shares the investment firm has in its possession to 247,116. The investment management company has now acquired a total of 247,116 shares, bringing the total number of shares it owns to 247,116.
Woodline Partners LP initiated a new investment in Harmonic during the second quarter by contributing to the company of approximately $1,431,000. And finally, during the second quarter, Thrivent Financial for Lutherans added 22.5% more shares to its holdings in Harmonic, bringing the total number of shares it possessed in the company to a total of 1,050. Thrivent Financial for Lutherans now has 102,657 shares of the communications equipment provider’s stock after purchasing an additional 18,841 shares during the most recent quarter. The stock is valued at $890,000 since Thrivent Financial for Lutherans owns 102,657 shares. To the tune of 97.62% of the shares, hedge funds and other institutional investors hold ownership stakes in the company.
Customers worldwide can take advantage of the video distribution system solutions, software, and services that Harmonic Inc. and its affiliates are proud to provide for its clientele. Cable access and video production are the two divisions of the company that make up the organization as a whole. The Video division offers solutions and services for video processing, production, and playout to cable operators, satellite and telecommunications pay-TV service providers, broadcast and media enterprises, and even companies that provide streaming media. These businesses include companies that are in the business of providing pay television services. This category includes businesses that provide streaming media services.