Harmonic (NASDAQ:HLIT – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 0.000-0.050 for the period, compared to the consensus EPS estimate of 0.050. The company issued revenue guidance of -. Harmonic also updated its FY 2024 guidance to 0.510-0.710 EPS.
Harmonic Stock Up 2.2 %
NASDAQ HLIT traded up $0.20 on Monday, hitting $9.40. The stock had a trading volume of 2,339,702 shares, compared to its average volume of 2,028,024. The business’s fifty day moving average price is $12.25 and its 200 day moving average price is $11.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 0.91. Harmonic has a 52-week low of $8.80 and a 52-week high of $18.43. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 13.34 and a beta of 0.84.
Harmonic (NASDAQ:HLIT – Get Free Report) last announced its quarterly earnings data on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The firm had revenue of $167.10 million for the quarter, compared to analyst estimates of $158.98 million. Harmonic had a net margin of 13.82% and a return on equity of 4.71%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 earnings per share. Equities research analysts anticipate that Harmonic will post 0.32 earnings per share for the current year.
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Insider Activity at Harmonic
In other Harmonic news, SVP Neven Haltmayer sold 14,747 shares of the company’s stock in a transaction dated 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 $2,141,727.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Harmonic news, SVP Nimrod Ben-Natan sold 100,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $12.91, for a total value of $1,291,000.00. Following the completion of the transaction, the senior vice president now owns 302,214 shares in the company, valued at $3,901,582.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Neven Haltmayer sold 14,747 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $13.68, for a total transaction of $201,738.96. Following the completion of the transaction, the senior vice president now owns 156,559 shares of the company’s stock, valued at approximately $2,141,727.12. The disclosure for this sale can be found here. Insiders sold 150,000 shares of company stock worth $1,917,122 over the last three months. Company insiders own 2.20% of the company’s stock.
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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