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Harmonic Inc. (HLIT) – Don’t Be So Quick to Call it Dead

Harmonic Inc. (NASDAQ: HLIT) is 0.00% lower on its value in year-to-date trading and has touched a low of $8.25 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 $11.84 in the last trading session, with the day’s loss setting it -0.08% off its average median price target of $15.50 for the next 12 months. It is also 41.2% off the consensus price target high of $20.00 offered by 6 analysts, but current levels are -2.26% lower than the price target low of $11.50 for the same period.

Currently trading at $11.76, the stock is 5.12% and 8.54% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.08 million and changing -0.68% at the moment leaves the stock 18.60% off its SMA200. HLIT registered 34.25% gain for a year compared to 6-month gain of 22.12%. The firm has a 50-day simple moving average (SMA 50) of $2.26 and a 200-day simple moving average (SMA200) of $24.20.

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The stock witnessed a 5.09% loss in the last 1 month and extending the period to 3 months gives it a 38.68%, and is 7.79% 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 4.11% over the week and 2.68% over the month.

Harmonic Inc. (HLIT) has around 935 employees, a market worth around $1.16B and $587.00M in sales. Current P/E ratio is 39.33 and Fwd P/E is 16.80. Profit margin for the company is 5.90%. Distance from 52-week low is 42.55% and -3.76% 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 104.63M, and float is at 101.83M with Short Float at 8.93%.

Harmonic Inc. (HLIT) Insider Activity

A total of 27 insider transactions have happened at Harmonic Inc. (HLIT) in the last six months, with sales accounting for 14 and purchases happening 13 times. The most recent transaction is an insider sale by HARSHMAN PATRICK, the company’s President and CEO. SEC filings show that HARSHMAN PATRICK sold 150,000 shares of the company’s common stock on Sep 16 at a price of $12.00 per share for a total of $1.8 million. Following the sale, the insider now owns 0.43 million shares.

Harmonic Inc. disclosed in a document filed with the SEC on Aug 25 that Kalra Sanjay (SVP and CFO) sold a total of 53,585 shares of the company’s common stock. The trade occurred on Aug 25 and was made at $11.36 per share for $0.61 million. Following the transaction, the insider now directly holds 96419.0 shares of the HLIT stock.

Still, SEC filings show that on Aug 16, HARSHMAN PATRICK (President and CEO) disposed off 6,040 shares at an average price of $11.39 for $68800.0. The insider now directly holds 578,173 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 12.91% up over the past 12 months. CommScope Holding Company Inc. (COMM) is -16.64% down on the 1-year trading charts.

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