Harmonic Inc. (HLIT) Trading 3.4% Higher
Harmonic Inc. (NASDAQ:HLIT)’s share price traded up 3.4% during trading on Tuesday . The stock traded as high as $3.38 and last traded at $3.37, with a volume of 294,502 shares trading hands. The stock had previously closed at $3.26.
Several equities analysts recently commented on the stock. Drexel Hamilton reaffirmed a “hold” rating on shares of Harmonic in a research note on Tuesday, May 10th. Zacks Investment Research raised shares of Harmonic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Harmonic presently has an average rating of “Hold” and an average price target of $5.00.
The company’s market capitalization is $260.58 million. The stock’s 50 day moving average is $3.05 and its 200 day moving average is $3.13.
Harmonic (NASDAQ:HLIT) last posted its earnings results on Tuesday, May 10th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.08. The business had revenue of $82.50 million for the quarter, compared to analyst estimates of $83.98 million. During the same quarter in the prior year, the company earned $0.05 EPS. The business’s revenue for the quarter was down 21.3% on a year-over-year basis. Equities research analysts anticipate that Harmonic Inc. will post $0.06 EPS for the current year.
A hedge fund recently raised its stake in Harmonic stock. Russell Frank Co increased its stake in shares of Harmonic Inc. (NASDAQ:HLIT) by 3.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 246,732 shares of the company’s stock after buying an additional 9,009 shares during the period. Russell Frank Co owned approximately 0.28% of Harmonic worth $1,027,000 at the end of the most recent quarter.
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.
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