Harmonic (NASDAQ:HLIT – Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.510-0.710 for the period, compared to the consensus estimate of 0.560. The company issued revenue guidance of -. Harmonic also updated its FY24 guidance to $0.51-0.71 EPS.
Harmonic Price Performance
NASDAQ:HLIT traded up $0.20 during trading hours on Monday, hitting $9.40. 2,339,702 shares of the company’s stock traded hands, compared to its average volume of 2,028,024. The firm has a market cap of $1.05 billion, a P/E ratio of 13.34 and a beta of 0.84. Harmonic has a 52 week low of $8.80 and a 52 week high of $18.43. The business’s fifty day simple moving average is $12.25 and its two-hundred day simple moving average is $11.78. 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 (NASDAQ:HLIT – Get Free Report) last posted its quarterly earnings data on Monday, January 29th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $167.10 million during 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 firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. On average, research analysts anticipate that Harmonic will post 0.32 earnings per share for the current fiscal year.
Analysts Set New Price Targets
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Insider Transactions at Harmonic
In other news, SVP Neven Haltmayer sold 24,695 shares of Harmonic stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $11.58, for a total value of $285,968.10. Following the transaction, the senior vice president now owns 181,864 shares in the company, valued at $2,105,985.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, SVP Nimrod Ben-Natan sold 100,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $12.91, for a total transaction of $1,291,000.00. Following the transaction, the senior vice president now owns 302,214 shares in the company, valued at approximately $3,901,582.74. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Neven Haltmayer sold 24,695 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $11.58, for a total value of $285,968.10. Following the transaction, the senior vice president now owns 181,864 shares in the company, valued at approximately $2,105,985.12. The disclosure for this sale can be found here. Over the last quarter, insiders have 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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