Harmonic Inc. [HLIT] Stock trading around $7.05 per share: What’s Next?

Harmonic Inc. [NASDAQ: HLIT] stock went on a downward path that fall over -13.07% on Tuesday, amounting to a one-week price decrease of less than -11.65%. The company report on May 4, 2021 that Harmonic Announces First Quarter 2021 Results.

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Cable Access revenue up 72% year over year.

Video revenue up 29% year over year.

Over the last 12 months, HLIT stock rose by 25.44%. The one-year Harmonic Inc. stock forecast points to a potential upside of 22.87. The average equity rating for HLIT stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $747.30 million, with 98.02 million shares outstanding and 94.21 million shares in the current float. Compared to the average trading volume of 674.73K shares, HLIT stock reached a trading volume of 2241552 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Harmonic Inc. [HLIT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HLIT shares is $9.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HLIT stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Harmonic Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 01, 2020. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on May 22, 2020, representing the official price target for Harmonic Inc. stock. Previously, the target price had yet another raise to $9, while JP Morgan analysts kept a Overweight rating on HLIT stock. On July 30, 2019, analysts increased their price target for HLIT shares from 7 to 10.

The Average True Range (ATR) for Harmonic Inc. is set at 0.40, with the Price to Sales ratio for HLIT stock in the period of the last 12 months amounting to 1.97. The Price to Book ratio for the last quarter was 2.67, with the Price to Cash per share for the same quarter was set at 0.93. Price to Free Cash Flow for HLIT in the course of the last twelve months was 106.76 with Quick ratio for the last quarter at 1.40.

HLIT Stock Performance Analysis:

Harmonic Inc. [HLIT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.65. With this latest performance, HLIT shares dropped by -12.75% in over the last four-week period, additionally plugging by 18.69% over the last 6 months – not to mention a rise of 25.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HLIT stock in for the last two-week period is set at 36.55, with the RSI for the last a single of trading hit 31.95, and the three-weeks RSI is set at 39.75 for Harmonic Inc. [HLIT]. The present Moving Average for the last 50 days of trading for this stock 8.02, while it was recorded at 7.86 for the last single week of trading, and 6.96 for the last 200 days.

Insight into Harmonic Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Harmonic Inc. [HLIT] shares currently have an operating margin of -2.38 and a Gross Margin at +50.97. Harmonic Inc.’s Net Margin is presently recorded at -7.73.

Return on Total Capital for HLIT is now -2.05, given the latest momentum, and Return on Invested Capital for the company is -7.28. Return on Equity for this stock declined to -11.46, with Return on Assets sitting at -4.97. When it comes to the capital structure of this company, Harmonic Inc. [HLIT] has a Total Debt to Total Equity ratio set at 71.54. Additionally, HLIT Total Debt to Total Capital is recorded at 41.70, with Total Debt to Total Assets ending up at 31.24. Long-Term Debt to Equity for the company is recorded at 64.14, with the Long-Term Debt to Total Capital now at 37.39.

Reflecting on the efficiency of the workforce at the company, Harmonic Inc. [HLIT] managed to generate an average of -$25,039 per employee. Receivables Turnover for the company is 4.08 with a Total Asset Turnover recorded at a value of 0.64.Harmonic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.60.


With the latest financial reports released by the company, Harmonic Inc. posted -0.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 53.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HLIT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Harmonic Inc. go to 19.40%.

Harmonic Inc. [HLIT] Insider Position Details

There are presently around $625 million, or 90.20% of HLIT stock, in the hands of institutional investors. The top three institutional holders of HLIT stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 16,629,739, which is approximately 5.901% of the company’s market cap and around 2.60% of the total institutional ownership; BLACKROCK INC., holding 15,283,067 shares of the stock with an approximate value of $107.75 million in HLIT stocks shares; and SCOPIA CAPITAL MANAGEMENT LP, currently with $68.33 million in HLIT stock with ownership of nearly 3.846% of the company’s market capitalization.

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Positions in Harmonic Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 70 institutional holders increased their position in Harmonic Inc. [NASDAQ:HLIT] by around 7,877,710 shares. Additionally, 66 investors decreased positions by around 6,405,024 shares, while 23 investors held positions by with 74,430,764 shares. The mentioned changes placed institutional holdings at 88,713,498 shares, according to the latest SEC report filing. HLIT stock had 16 new institutional investments in for a total of 1,518,281 shares, while 16 institutional investors sold positions of 1,081,575 shares during the same period.

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