Harmonic (NASDAQ:HLIT – Get Free Report) updated its second quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.00-0.05 for the period, compared to the consensus earnings per share estimate of $0.05. The company issued revenue guidance of $125-140 million, compared to the consensus revenue estimate of $139.53 million. Harmonic also updated its FY 2024 guidance to 0.510-0.710 EPS.
Harmonic Stock Up 2.2 %
Shares of Harmonic stock traded up $0.20 on Monday, hitting $9.40. 2,342,490 shares of the company traded hands, compared to its average volume of 2,028,024. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.02. Harmonic has a 12-month low of $8.80 and a 12-month high of $18.43. The company has a 50-day moving average price of $12.25 and a 200 day moving average price of $11.78. The company has a market cap of $1.05 billion, a PE ratio of 13.34 and a beta of 0.84.
Harmonic (NASDAQ:HLIT – Get Free Report) last issued its earnings results on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.03. The company had revenue of $167.10 million for the quarter, compared to analyst estimates of $158.98 million. Harmonic had a return on equity of 4.71% and a net margin of 13.82%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. Sell-side analysts predict that Harmonic will post 0.32 earnings per share for the current year.
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Insider Activity at Harmonic
In other news, SVP Neven Haltmayer sold 14,747 shares of Harmonic stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $13.68, for a total transaction of $201,738.96. Following the sale, the senior vice president now owns 156,559 shares of the company’s stock, valued at approximately $2,141,727.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Neven Haltmayer sold 14,747 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $13.68, for a total value of $201,738.96. Following the completion of the transaction, the senior vice president now owns 156,559 shares in the company, valued at approximately $2,141,727.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Nimrod Ben-Natan sold 100,000 shares of Harmonic stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the sale, the senior vice president now owns 302,214 shares in the company, valued at $3,901,582.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,000 shares of company stock worth $1,917,122. Company insiders own 2.20% of the company’s stock.
Harmonic Company Profile
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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