Harmonic (NASDAQ:HLIT – Get Free Report) announced its quarterly earnings data on Monday. The communications equipment provider reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04, Briefing.com reports. The company had revenue of $138.70 million during the quarter, compared to the consensus estimate of $133.67 million. Harmonic had a net margin of 12.37% and a return on equity of 1.35%. Harmonic’s quarterly revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 EPS.
Harmonic Price Performance
HLIT traded up $2.20 during trading on Tuesday, reaching $13.95. 3,194,938 shares of the stock were exchanged, compared to its average volume of 1,691,338. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.09 and a quick ratio of 0.78. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 24.72 and a beta of 0.89. Harmonic has a 1 year low of $8.80 and a 1 year high of $15.31. The business’s 50 day moving average price is $11.83 and its two-hundred day moving average price is $12.01.
Insider Buying and Selling
In other news, SVP Ian Graham sold 52,730 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $10.95, for a total transaction of $577,393.50. Following the completion of the transaction, the senior vice president now directly owns 63,616 shares of the company’s stock, valued at approximately $696,595.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.20% of the company’s stock.
Analysts Set New Price Targets
Check Out Our Latest Research Report on Harmonic
About Harmonic
Harmonic Inc, together with its subsidiaries, provides broadband solutions worldwide. The company operates through Broadband and Video segments. The Broadband segment sells broadband access solutions and related services, including cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.
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