Harmonic Inc. (NASDAQ:HLIT) CFO Sanjay Kalra sold 3,777 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $3.70, for a total value of $13,974.90. Following the completion of the sale, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $37,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Harmonic Inc. (HLIT) traded up $0.10 during trading on Friday, reaching $3.80. The company had a trading volume of 759,703 shares, compared to its average volume of 601,768.

Harmonic (NASDAQ:HLIT) last announced its quarterly earnings results on Monday, October 30th. The communications equipment provider reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.07. Harmonic had a negative return on equity of 13.06% and a negative net margin of 22.02%. The company had revenue of $92.00 million during the quarter, compared to analyst estimates of $85.63 million. During the same period in the prior year, the company earned ($0.01) earnings per share. The firm’s revenue was down 9.3% on a year-over-year basis. equities analysts anticipate that Harmonic Inc. will post -0.5 EPS for the current fiscal year.

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A number of hedge funds have recently modified their holdings of HLIT. Vanguard Group Inc. raised its position in Harmonic by 3.6% during the second quarter. Vanguard Group Inc. now owns 5,803,837 shares of the communications equipment provider’s stock valued at $30,470,000 after purchasing an additional 203,002 shares during the period. State Street Corp raised its position in Harmonic by 7.0% during the second quarter. State Street Corp now owns 1,961,470 shares of the communications equipment provider’s stock valued at $10,303,000 after purchasing an additional 129,086 shares during the period. Bank of America Corp DE raised its position in Harmonic by 13.3% during the first quarter. Bank of America Corp DE now owns 747,733 shares of the communications equipment provider’s stock valued at $4,448,000 after purchasing an additional 87,702 shares during the period. Schwab Charles Investment Management Inc. raised its position in Harmonic by 10.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 813,106 shares of the communications equipment provider’s stock valued at $4,838,000 after purchasing an additional 77,305 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Harmonic by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 6,629,442 shares of the communications equipment provider’s stock valued at $34,805,000 after purchasing an additional 58,240 shares during the period. Institutional investors and hedge funds own 99.08% of the company’s stock.

A number of equities analysts have recently weighed in on the company. Dougherty & Co reaffirmed a “buy” rating and issued a $6.50 price objective on shares of Harmonic in a research note on Monday, October 23rd. Zacks Investment Research lowered Harmonic from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Northland Securities set a $6.00 price objective on Harmonic and gave the stock a “buy” rating in a research note on Tuesday, October 17th. ValuEngine lowered Harmonic from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $3.50 price objective on shares of Harmonic in a research note on Sunday, September 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $5.15.

Harmonic Company Profile

Harmonic Inc (Harmonic) designs, manufactures and sells video infrastructure products, and system solutions. The Company has two segments: Video and Cable Edge. Harmonic provides technical support and professional services to its customers around the world. The Video segment sells video processing and production, and playout solutions and services to broadcast and media companies, streaming media companies, cable operators, and satellite and telecommunications (telco), and pay television (TV) service providers.

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

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