Harmonic, Inc (NASDAQ: HLIT) is 1.69% higher on its value in year-to-date trading and has touched a low of $9.10 and a high of $15.46 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 $12.81 in the last trading session, with the day’s gains setting it 0.45%.
Currently trading at $13.26, the stock is 2.78% and 2.72% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.36 million and changing 3.51% at the moment leaves the stock 5.46% off its SMA200. HLIT registered 15.81% gain for a year compared to 6-month gain of 15.20%. The firm has a 50-day simple moving average (SMA 50) of $12.9088 and a 200-day simple moving average (SMA200) of $12.57335.
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The stock witnessed a 8.60% loss in the last 1 month and extending the period to 3 months gives it a -5.62%, and is -0.75% 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 3.40% over the week and 2.52% over the month.
Harmonic, Inc (HLIT) has around 1359 employees, a market worth around $1.55B and $623.65M in sales. Current P/E ratio is 18.19 and Fwd P/E is 15.27. Profit margin for the company is 13.62%. Distance from 52-week low is 45.71% and -14.23% from its 52-week high. The company has generated returns on investments over the last 12 months (14.98%).
The EPS is expected to grow by 89.19% this year
306.0 institutions hold shares in Harmonic, Inc (HLIT), with institutional investors hold 97.71% of the company’s shares. The shares outstanding are 116.51M, and float is at 112.69M with Short Float at 3.01%. Institutions hold 95.42% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 17.64 million shares valued at $207.67 million. The investor’s holdings represent 15.3386 of the HLIT Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 10.39 million shares valued at $122.3 million to account for 9.0333 of the shares outstanding. The other top investors are TRIGRAN INVESTMENTS, INC. which holds 6.64 million shares representing 5.7767 and valued at over $78.21 million, while SCOPIA CAPITAL MANAGEMENT LP holds 4.8667 of the shares totaling 5.6 million with a market value of $65.89 million.
Harmonic, Inc (HLIT) Insider Activity
Harmonic, Inc disclosed in a document filed with the SEC on Jul 31 ’24 that Haltmayer Neven (SVP & Interim GM, Vid Business) sold a total of 40,000 shares of the company’s common stock. The trade occurred on Jul 31 ’24 and was made at $14.41 per share for $0.58 million. Following the transaction, the insider now directly holds 0.12 million shares of the HLIT stock.
Still, SEC filings show that on Jul 31 ’24, Graham Ian (Officer) Proposed Sale 60,122 shares at an average price of $14.44 for $0.87 million. The insider now directly holds shares of Harmonic, Inc (HLIT).
