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SAN JOSE, CA—Daniel Whalen, a director at Harmonic Inc . (NASDAQ:HLIT), a $1.18 billion market cap company, has acquired a significant amount of the company’s common stock, according to a recent filing with the Securities and Exchange Commission. On February 24, Whalen purchased a total of 3,000 shares in two separate transactions. The shares were bought at prices ranging from $10.0793 to $10.1898 per share, totaling approximately $30,458.
Following these transactions, Whalen’s direct ownership of Harmonic Inc. common stock increased to 8,840 shares. These purchases were made in the open market, as noted in the filing. According to InvestingPro data, the stock has seen a significant decline of over 30% in the past six months, though current analysis suggests the shares are trading below their Fair Value.
In addition to the non-derivative transactions, Whalen also acquired 16,143 restricted stock units on February 20. These units are scheduled to vest on February 15, 2026, at which point they will convert to common stock.
Harmonic Inc., a company specializing in radio and TV broadcasting and communications equipment, continues to attract keen interest from its insiders, reflecting confidence in its future prospects.
In other recent news, Harmonic Inc. reported fourth-quarter results that exceeded expectations, with adjusted earnings per share of $0.45 and revenue of $222.2 million, both surpassing analyst estimates. Despite this strong performance, the company issued disappointing guidance for 2025, forecasting earnings per share between $0.43 and $0.68 on revenue of $585 to $645 million, falling short of consensus estimates. Harmonic attributed the weak outlook to delays in customer deployment of DOCSIS 4.0 technology, which is expected to eventually drive growth.
Rosenblatt Securities cut its price target for Harmonic to $12 from $16, maintaining a Buy rating, suggesting that current valuations might present an opportunity due to potential upside later in the year. Similarly, Needham lowered its price target to $14 from $18, also retaining a Buy rating, and noted that while current demand is fluctuating, the long-term outlook remains positive. Jefferies, on the other hand, issued a Hold rating with a price target of $10, citing industry headwinds and customer delays as significant challenges.
Despite these setbacks, Harmonic’s board authorized a $200 million share repurchase program, doubling the previous one, reflecting confidence in the company’s long-term prospects. The company ended the quarter with $101.5 million in cash, an increase from the previous year. As Harmonic navigates these developments, investor attention remains focused on the company’s ability to capitalize on future growth opportunities.
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