Harmonic Inc (HLIT) is Upgraded by Drexel Hamilton to Buy

Harmonic Inc (HLIT) was Upgraded by Drexel Hamilton to ” Buy”. Earlier the firm had a rating of “Hold ” on the company shares. Drexel Hamilton advised their investors in a research report released on Aug 10, 2016.

On the company’s financial health, Harmonic Inc reported $-0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on May 10, 2016. Analyst had a consensus of $-0.03. The company had revenue of $81.80 million for the quarter, compared to analysts expectations of $83.98 million. The company’s revenue was down -21.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.05 EPS.

Harmonic Inc opened for trading at $3.24 and hit $3.3 on the upside on Monday, eventually ending the session at $3.26, with a gain of 0.31% or 0.01 points. The heightened volatility saw the trading volume jump to 1,51,016 shares. Company has a market cap of $252 M.

In a different news, on Mar 9, 2016, Patrick Gallagher (director) purchased 5,000 shares at $3.24 per share price. According to the SEC, on Feb 18, 2016, Floyd E Kvamme (director) purchased 25,000 shares at $3.25 per share price. On Dec 16, 2015, Patrick Harshman (CEO) purchased 10,000 shares at $4.29 per share price, according to the Form-4 filing with the securities and exchange commission.

Harmonic Inc. (Harmonic) designs manufactures and sells video infrastructure products and system solutions. The Company operates in two business segments: Video and Cable Edge. Its Video business sells video processing and production and playout solutions and services around the world to cable operators and satellite and telecommunications (telco) Pay-TV service providers and to broadcast and media companies. The products offered in the Video business segment include video processing solutions and video production platforms and playout solutions. Its Cable Edge business sells cable edge solutions and related services to cable operators globally. The products offered in the Cabled Edge segment include edge quadrature amplitude modulation (QAM) products centralized converged cable access platform (CCAP) Solution and Distributed CCAP Solution.

Harmonic Inc

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