Harman International Industries, Incorporated designs and engineers connected products and solutions for automakers, consumers, and enterprises worldwide. The company operates through four segments: Connected Car, Lifestyle Audio, Professional Solutions, and Connected Services. The Connected Car segment designs, manufactures, and markets connected car systems for vehicle applications to be installed as original equipment by automotive manufacturers, as well as produces an infotainment system for Harley-Davidson touring motorcycles. This segment also offers automotive cyber security solutions. The Lifestyle Audio segment offers car audio systems for vehicle applications, as well as provides a range of consumer audio products, including mid-to high-end loudspeakers and electronics, headphones, embedded audio products for consumer electronics, and branded portable wireless speakers. The Professional Solutions segment designs, manufactures, and markets audio, lighting, video and control, and automation solutions for entertainment and enterprise applications, such as live concerts and festivals, stadiums, airports, hotels and resorts, conference centers, educational institutions, command centers, and houses of worship. Its products include loudspeakers, amplifiers, digital signal processors, microphones, headphones, mixing consoles, guitar pedals, lighting, video and control, and enterprise automation solutions. The Connected Services segment offers software solutions to the automotive, retail, mobile, healthcare, media, and consumer electronics markets. The company markets its products under the AKG, AMX, Crown, Harman/Kardon, Infinity, JBL, JBL Professional, Lexicon, Mark Levinson, Martin, Revel, Soundcraft, and Studer brand names. Harman International Industries, Incorporated was founded in 1980 and is headquartered in Stamford, Connecticut.
Samsung Buys Harman in an $8 Billion Deal Samsung Electronics has announced that it will buy Harman International Industries (NYSE: HAR) for $112 in cash (a 28% premium to its closing price on Friday) for a total equity value of about $8 billion. The deal will be the largest in Samsung's history, and will substantially increase its market presence in connected and automotive electronics.
Analyst Upgrade/Downgrade Update Brokerage firm: Barclays Change: Downgrade Previous Rating: Overweight Current Rating: Equal weight Previous Price Target: $104 Current Price Target: $111 Analyst Upgrade/Downgrade Update Brokerage firm: Raymond James Change: Downgrade Previous Rating: Strong Buy Current Rating: Outperform Previous Price Target: N/A Current Price Target: N/A
Recent Insider Trading: Well would you look at that, insiders sold 25, and 52% of their shares the day before two analysts downgraded their stock! What are the odds!?
