Boston, MA, 07/01/2013 (financialstrend) – The Indonesian telecommunications provider, Biznet Networks had recently deployed the comprehensive systems solutions developed by Harmonic Inc. (NASDAQ:HLIT) in order to power up its new service max3, which is a combined Broadband Internet and Cable TV service. The scalable video and edge processing solutions developed by the company are loaded on with fully integrated IP based head end which provides for cost effective delivery of high quality video content to the subscribers of the service in Jakarta. The solutions provided by Harmonic Inc. (NASDAQ:HLIT) also allow for an increased channel line up to the subscribers, which is planned to be extended to subscribers in Bali and Bandung in the near future.
Shares of Harmonic Inc. (NASDAQ:HLIT) surged by 1.11 percent to close at $6.35 on Friday. The opening price for the stock was at $6.24 per share and thereafter fluctuated between $6.24 and $6.48 throughout the day. The 52 week low price of Harmonic Inc. (NASDAQ:HLIT) is at $3.76 and 52 week high is readjusted to new value at $6.48 per share.
With around 113.26 million shares outstanding in the market, Harmonic Inc. (NASDAQ:HLIT) presently has a market cap of $719.21 million. The company had witnessed the trade on 2.31 million shares on Friday, which was huge compared to the average trading volume at 838,646 shares per day. The institutional investors contribute to around 80 percent of the total capital of Harmonic Inc. (NASDAQ:HLIT).
Harmonic Inc. (NASDAQ:HLIT) is primarily engaged in the design, manufacture and sales of versatile and video infrastructure products and related system solutions to enable the customers to create, prepare and deliver wide range of video services on devices such as personal computers, laptops, tablets, mobile phones and basically televisions. The product portfolio of the company is divided into three major categories namely edge and access products, video processing solutions and video production platforms and playout solutions.