Figma Shares Indicated To Open $105/$110
Walter Jankovic, the Chief Financial Officer of Harmonic Inc . (NASDAQ:HLIT), recently acquired a significant number of shares in the company amid the stock's 12% decline over the past week. According to a recent SEC filing, Jankovic purchased a total of 12,000 shares of Harmonic Inc. common stock on February 12, 2025. InvestingPro analysis indicates the stock is currently in oversold territory, with analysts maintaining a consensus "Buy" rating. The shares were acquired at a price range between $9.435 and $9.44 per share, totaling approximately $113,279. Following these transactions, Jankovic's direct ownership in the company increased to 46,129 shares. These acquisitions were made in open market purchases, as noted in the filing. According to InvestingPro data, Harmonic maintains a "GOOD" overall financial health score and appears undervalued based on its Fair Value analysis. Discover more insights and 10+ additional ProTips with an InvestingPro subscription.
In other recent news, Harmonic Inc. experienced significant changes in its financial outlook. The company reported a robust 33% year-over-year revenue increase and a $0.32 rise in earnings per share for the fourth quarter of 2024. Despite this strong performance, Harmonic's forecast for fiscal year 2025 fell short of expectations due to reduced demand from key clients Comcast (NASDAQ:CMCSA) and Charter. Analysts from Rosenblatt Securities and Needham revised their price targets for Harmonic to $12 and $14 respectively, while maintaining a Buy rating on the stock.
The drop in Harmonic's Broadband business projections for 2025, attributed to slower than expected deployments of DOCSIS 4.0 technology, led to these revisions. However, both Rosenblatt and Needham analysts remain optimistic about Harmonic's market position. They believe the shift to DOCSIS 4 Unified (D4U) network could potentially benefit Harmonic in the long run, despite short-term challenges.
These are among the recent developments that investors should consider. While the company's near-term outlook may be less optimistic, analysts suggest there might be a strong upside when industry spending rebounds, indicating potential opportunities for investors.
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