Things appear to be looking up for Harmonic, Inc. (HLIT)

Harmonic, Inc. (NASDAQ: HLIT) is 5.06% higher on its value in year-to-date trading and has touched a low of $8.80 and a high of $18.43 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 $13.00 in the last trading session, with the day’s gains setting it 0.7%.

Currently trading at $13.70, the stock is 13.41% and 16.23% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.14 million and changing 5.38% at the moment leaves the stock 8.54% off its SMA200. HLIT registered -4.46% loss for a year compared to 6-month gain of 26.27%. The firm has a 50-day simple moving average (SMA 50) of $2.65 and a 200-day simple moving average (SMA200) of $47.31.

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The stock witnessed a 10.13% loss in the last 1 month and extending the period to 3 months gives it a 25.69%, and is 4.26% 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 4.06% over the week and 3.94% over the month.

Current P/E ratio is 19.07 and Fwd P/E is 14.27. Profit margin for the company is 13.82%. Distance from 52-week low is 55.68% and -25.66% from its 52-week high. The company has generated returns on investments over the last 12 months (18.01%).

Harmonic, Inc. quarterly earnings per share for the current quarter are estimated at $0 with sales reaching $122.08M over the same period.The EPS is expected to grow by 54.50% this year, but quarterly earnings will post 10.70% year-over-year. Quarterly sales are estimated to shrink -22.60% in year-over-year returns.

Harmonic, Inc. (HLIT) Top Institutional Holders

285 institutions hold shares in Harmonic, Inc. (HLIT), with institutional investors hold 106.24% of the company’s shares. The shares outstanding are 112.41M, and float is at 109.28M with Short Float at 8.11%. Institutions hold 103.49% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 17.3 million shares valued at $279.7 million. The investor’s holdings represent 15.46% of the HLIT Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 8.55 million shares valued at $138.23 million to account for 7.64% of the shares outstanding. The other top investors are Wellington Management Group, LLP which holds 7.71 million shares representing 6.89% and valued at over $124.68 million, while Trigran Investments Inc holds 6.22% of the shares totaling 6.96 million with a market value of $112.53 million.

Harmonic, Inc. (HLIT) Insider Activity

A total of 14 insider transactions have happened at Harmonic, Inc. (HLIT) in the last six months, with sales accounting for 6 and purchases happening 8 times.

Harmonic, Inc. (HLIT): Who are the competitors?

The company’s main competitors (and peers) include Belden Inc. (BDC) that is trading -7.83% down over the past 12 months. Blonder Tongue Laboratories Inc. (BDRL) that is -54.57% lower over the same period.