Harmonic Inc. (NASDAQ: HLIT) is -21.85% lower on its value in year-to-date trading and has touched a low of $7.64 and a high of $12.22 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The HLIT stock was last observed hovering at around $9.16 in the last trading session, with the day’s gains setting it 0.03% off its average median price target of $13.50 for the next 12 months. It is also 45.94% off the consensus price target high of $17.00 offered by 6 analysts, but current levels are 8.1% higher than the price target low of $10.00 for the same period.
Currently trading at $9.19, the stock is 5.52% and 0.83% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.37 million and changing 0.33% at the moment leaves the stock -4.83% off its SMA200. HLIT registered 12.76% gain for a year compared to 6-month loss of -20.09%. The firm has a 50-day simple moving average (SMA 50) of $1.95 and a 200-day simple moving average (SMA200) of $28.22.
The stock witnessed a 6.12% gain in the last 1 month and extending the period to 3 months gives it a 7.86%, and is 2.57% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.29% over the week and 3.17% over the month.
Harmonic Inc. (HLIT) has around 911 employees, a market worth around $940.32M and $543.00M in sales. Current P/E ratio is 64.27 and Fwd P/E is 14.89. Profit margin for the company is 3.30%. Distance from 52-week low is 20.37% and -24.80% from its 52-week high. The company has generated returns on investments over the last 12 months (5.10%).
Harmonic Inc. (HLIT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Harmonic Inc. (HLIT) is a “Overweight”. 6 analysts offering their recommendations for the stock have an average rating of 2.20, where 1 rate it as a Hold and 2 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Harmonic Inc. is expected to release its quarterly report on 10/31/2022.The EPS is expected to grow by 141.40% this year.
Harmonic Inc. (HLIT) Top Institutional Holders
The shares outstanding are 103.99M, and float is at 101.27M with Short Float at 8.54%.
Harmonic Inc. (HLIT) Insider Activity
A total of 40 insider transactions have happened at Harmonic Inc. (HLIT) in the last six months, with sales accounting for 17 and purchases happening 23 times. The most recent transaction is an insider sale by Graham Ian ,the company’sSVP, Global Sales & Video Svcs. SEC filings show that Graham Ian sold 15,573 shares of the company’s common stock on Jun 02 at a price of $9.89 per share for a total of $0.15 million. Following the sale, the insider now owns 0.1 million shares.
Harmonic Inc. disclosed in a document filed with the SEC on Jun 02 that Ben-Natan Nimrod (SVP & GM, Cable Access) sold a total of 80,000 shares of the company’s common stock. The trade occurred on Jun 02 and was made at $9.96 per share for $0.8 million. Following the transaction, the insider now directly holds 0.43 million shares of the HLIT stock.
Still, SEC filings show that on Nov 22, Haltmayer Neven (SVP, Video R&D) disposed off 5,000 shares at an average price of $11.50 for $57500.0. The insider now directly holds 158,248 shares of Harmonic Inc. (HLIT).
Harmonic Inc. (HLIT): Who are the competitors?
The company’s main competitors (and peers) include Belden Inc. (BDC) that is trading 17.13% up over the past 12 months. CommScope Holding Company Inc. (COMM) is -71.86% down on the 1-year trading charts.