Harmonic Inc. (NASDAQ: HLIT) is 25.51% higher on its value in year-to-date trading and has touched a low of $8.25 and a high of $15.80 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The HLIT stock was last observed hovering at around $14.38 in the last trading session, with the day’s gains setting it 0.38% off its average median price target of $17.50 for the next 12 months. It is also 26.2% off the consensus price target high of $20.00 offered by 6 analysts, but current levels are -3.58% lower than the price target low of $14.25 for the same period.
Currently trading at $14.76, the stock is 4.47% and 9.51% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.15 million and changing 2.64% at the moment leaves the stock 39.90% off its SMA200. HLIT registered 32.61% gain for a year compared to 6-month gain of 58.20%.
The stock witnessed a -4.71% loss in the last 1 month and extending the period to 3 months gives it a 29.02%, and is 10.07% 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 4.47% over the week and 4.48% over the month.
Harmonic Inc. (HLIT) has around 962 employees, a market worth around $1.45B and $616.40M in sales. Current P/E ratio is 40.77 and Fwd P/E is 19.84. Profit margin for the company is 6.80%. Distance from 52-week low is 78.91% and -6.58% 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 03/01/2023.The EPS is expected to grow by 141.40% this year
Harmonic Inc. (HLIT) Top Institutional Holders
The shares outstanding are 105.23M, and float is at 102.50M with Short Float at 10.25%.
Harmonic Inc. (HLIT) Insider Activity
A total of 20 insider transactions have happened at Harmonic Inc. (HLIT) in the last six months, with sales accounting for 12 and purchases happening 8 times. The most recent transaction is an insider sale by Haltmayer Neven, the company’s SVP, Video R&D. SEC filings show that Haltmayer Neven sold 24,947 shares of the company’s common stock on Nov 18 at a price of $14.80 per share for a total of $0.37 million. Following the sale, the insider now owns 0.15 million shares.
Harmonic Inc. disclosed in a document filed with the SEC on Nov 16 that HARSHMAN PATRICK (President and CEO) sold a total of 6,040 shares of the company’s common stock. The trade occurred on Nov 16 and was made at $13.41 per share for $81008.0. Following the transaction, the insider now directly holds 0.43 million shares of the HLIT stock.
Still, SEC filings show that on Nov 04, Haltmayer Neven (SVP, Video R&D) disposed off 25,053 shares at an average price of $13.91 for $0.35 million. The insider now directly holds 168,362 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 16.93% up over the past 12 months. CommScope Holding Company Inc. (COMM) is -14.00% down on the 1-year trading charts.