Q3 2022 EPS Estimates for Harmonic Inc. (NASDAQ:HLIT) Raised by Analyst

Harmonic Inc. (NASDAQ:HLITGet Rating) – Analysts at Jefferies Financial Group raised their Q3 2022 earnings estimates for shares of Harmonic in a research report issued to clients and investors on Tuesday, August 2nd. Jefferies Financial Group analyst G. Notter now forecasts that the communications equipment provider will post earnings of $0.04 per share for the quarter, up from their previous estimate of $0.01. The consensus estimate for Harmonic’s current full-year earnings is $0.24 per share. Jefferies Financial Group also issued estimates for Harmonic’s Q4 2022 earnings at $0.06 EPS, FY2022 earnings at $0.24 EPS, Q1 2023 earnings at $0.03 EPS, Q2 2023 earnings at $0.06 EPS, Q3 2023 earnings at $0.10 EPS, Q4 2023 earnings at $0.19 EPS and FY2023 earnings at $0.39 EPS.

HLIT has been the subject of a number of other reports. Needham & Company LLC lifted their price target on Harmonic from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday. Rosenblatt Securities boosted their price objective on Harmonic from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday. TheStreet raised Harmonic from a “c+” rating to a “b+” rating in a report on Monday, August 1st. Barclays boosted their price objective on Harmonic from $13.00 to $14.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, StockNews.com raised Harmonic from a “hold” rating to a “buy” rating in a report on Wednesday, May 4th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $15.17.

Harmonic Stock Performance

Harmonic stock opened at $11.34 on Friday. The stock has a 50-day simple moving average of $9.49 and a 200 day simple moving average of $9.31. The company has a quick ratio of 1.06, a current ratio of 1.52 and a debt-to-equity ratio of 0.42. Harmonic has a 12-month low of $8.25 and a 12-month high of $12.22. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 35.44 and a beta of 1.02.

Harmonic (NASDAQ:HLITGet Rating) last released its quarterly earnings results on Monday, August 1st. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. Harmonic had a return on equity of 10.46% and a net margin of 5.91%. The business had revenue of $157.45 million during the quarter, compared to analysts’ expectations of $150.08 million. During the same period in the previous year, the business posted $0.01 earnings per share. The firm’s revenue for the quarter was up 38.8% compared to the same quarter last year.

Insider Activity

In related news, SVP Ian Graham sold 15,573 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $9.89, for a total value of $154,016.97. Following the completion of the transaction, the senior vice president now directly owns 100,358 shares in the company, valued at approximately $992,540.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Patrick Harshman sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $10.88, for a total value of $544,000.00. Following the completion of the transaction, the chief executive officer now directly owns 571,768 shares in the company, valued at approximately $6,220,835.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ian Graham sold 15,573 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $9.89, for a total value of $154,016.97. Following the transaction, the senior vice president now directly owns 100,358 shares of the company’s stock, valued at approximately $992,540.62. The disclosure for this sale can be found here. 3.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Harmonic

A number of large investors have recently bought and sold shares of HLIT. Acadian Asset Management LLC bought a new stake in shares of Harmonic during the 4th quarter worth approximately $35,000. Captrust Financial Advisors raised its stake in Harmonic by 411.4% in the 1st quarter. Captrust Financial Advisors now owns 3,866 shares of the communications equipment provider’s stock valued at $36,000 after acquiring an additional 3,110 shares during the period. KBC Group NV bought a new stake in Harmonic in the 2nd quarter valued at $77,000. Canandaigua National Corp bought a new stake in Harmonic in the 1st quarter valued at $94,000. Finally, Running Point Capital Advisors LLC bought a new stake in Harmonic in the 1st quarter valued at $100,000. Institutional investors and hedge funds own 98.14% of the company’s stock.

Harmonic Company Profile

(Get Rating)

Harmonic Inc, together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Cable Access. The Video segment sells video processing, production, and playout solutions and services to cable operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies.

See Also

Earnings History and Estimates for Harmonic (NASDAQ:HLIT)

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