The President & CEO of Harmonic is Exercising Options

By Carrie Williams

Today it was reported that the President & CEO of Harmonic (HLITResearch Report), Patrick Harshman, exercised options to sell 266,667 HLIT shares at $7.58 a share, for a total transaction value of $2.38M.

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Based on Harmonic’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $113 million and GAAP net loss of -$2,009,000. In comparison, last year the company earned revenue of $73.99 million and had a GAAP net loss of $15.4 million. Currently, Harmonic has an average volume of 541.96K. The company has a one-year high of $10.75 and a one-year low of $5.20.

Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $11.80, reflecting a -24.2% downside.

The insider sentiment on Harmonic has been negative according to 39 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Patrick Harshman’s trades have generated a 7.5% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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Harmonic, Inc. engages in the development and sale of video delivery software, products, system solutions, and services. It operates through the Video and Cable Edge segments. The Video segment sells video processing and production and playout services to cable operators, satellite and telecommunications pay-TV service providers, and broadcast and media companies, including streaming new media companies. The Cable Edge segment markets cable access solutions and related services, such as CableOS software-based Converged Cable Access Platform (CCAP) solutions. The company was founded in June 1988 and is headquartered in San Jose, CA.