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Who is the Top Investor In Harmonic Inc. (HLIT)?

Harmonic Inc. (NASDAQ: HLIT) is 27.86% higher on its value in year-to-date trading and has touched a low of $8.27 and a high of $16.97 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 $16.44 in the last trading session, with the day’s gains setting it 0.31% off its average median price target of $21.50 for the next 12 months. It is also 27.17% off the consensus price target high of $23.00 offered by 6 analysts, but current levels are 1.47% higher than the price target low of $17.00 for the same period.

Currently trading at $16.75, the stock is 9.29% and 13.65% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.8 million and changing 1.89% at the moment leaves the stock 22.92% off its SMA200. HLIT registered 78.00% gain for a year compared to 6-month loss of 16.48%. The firm has a 50-day simple moving average (SMA 50) of $2.93 and a 200-day simple moving average (SMA200) of $26.60.

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The stock witnessed a 21.29% gain in the last 1 month and extending the period to 3 months gives it a 27.09%, and is -0.48% down 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 2.23% over the week and 3.20% over the month.

Harmonic Inc. (HLIT) has around 978 employees, a market worth around $1.88B and $635.20M in sales. Current P/E ratio is 54.21 and Fwd P/E is 15.70. Profit margin for the company is 5.50%. Distance from 52-week low is 102.42% and -1.30% from its 52-week high. The company has generated returns on investments over the last 12 months (6.40%).

Harmonic Inc. (HLIT) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Harmonic Inc. (HLIT) is a “Buy”. 6 analysts offering their recommendations for the stock have an average rating of 1.80, where 0 rate it as a Hold and 2 think it is a “Overweight”. 4 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 07/31/2023.The EPS is expected to grow by 100.90% this year

Harmonic Inc. (HLIT) Top Institutional Holders

The shares outstanding are 110.79M, and float is at 102.58M with Short Float at 8.04%.

Harmonic Inc. (HLIT) Insider Activity

A total of 31 insider transactions have happened at Harmonic Inc. (HLIT) in the last six months, with sales accounting for 14 and purchases happening 17 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 15,179 shares of the company’s common stock on Dec 14 at a price of $14.19 per share for a total of $0.22 million. Following the sale, the insider now owns 0.48 million shares.

Harmonic Inc. disclosed in a document filed with the SEC on Dec 13 that HARSHMAN PATRICK (President and CEO) sold a total of 69,090 shares of the company’s common stock. The trade occurred on Dec 13 and was made at $13.35 per share for $0.92 million. Following the transaction, the insider now directly holds 0.47 million shares of the HLIT stock.

Still, SEC filings show that on Nov 30, Ben-Natan Nimrod (SVP & GM, Broadband Business) disposed off 50,000 shares at an average price of $14.90 for $0.75 million. The insider now directly holds 265,023 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 67.46% up over the past 12 months. CommScope Holding Company Inc. (COMM) is -38.45% down on the 1-year trading charts.

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