Market cap of Harmonic Inc. [HLIT] reaches 1.56B – now what?

Harmonic Inc. [NASDAQ: HLIT] gained 1.05% or 0.15 points to close at $14.45 with a heavy trading volume of 2859899 shares. The company report on October 17, 2022 that Harmonic Announces Reporting Date for Third Quarter 2022 Results.


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Harmonic Inc. (NASDAQ: HLIT) today announced that it will release its third quarter 2022 financial results after the market close on Monday, October 31, 2022. Harmonic will host a live webcast to discuss the company’s results at 2:00 p.m. PT on the same day.

To participate via telephone, please register in advance using this link, register.vevent.com/register/BIcb6f0c646052472a9304345609e1cfce.

It opened the trading session at $14.38, the shares rose to $15.015 and dropped to $14.30, the range by which the price of stock traded the whole day. The daily chart for HLIT points out that the company has recorded 65.71% gains over the past six months. However, it is still -75.15% lower than its most recent low trading price.

If we look at the average trading volume of 1.26M shares, HLIT reached to a volume of 2859899 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $15.42 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 2.20. 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.

Rosenblatt have made an estimate for Harmonic Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 24, 2022. The new note on the price target was released on April 21, 2022, representing the official price target for Harmonic Inc. stock. Previously, the target price had yet another raise to $9.50, while Needham analysts kept a Buy rating on HLIT stock.

The Average True Range (ATR) for Harmonic Inc. is set at 0.58, with the Price to Sales ratio for HLIT stock in the period of the last 12 months amounting to 2.67. The Price to Book ratio for the last quarter was 5.09, with the Price to Cash per share for the same quarter was set at 1.13. Price to Free Cash Flow for HLIT in the course of the last twelve months was 256.45 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for HLIT stock

Harmonic Inc. [HLIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.78. With this latest performance, HLIT shares gained by 22.04% in over the last four-week period, additionally plugging by 65.71% over the last 6 months – not to mention a rise of 59.67% 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 70.32, with the RSI for the last a single of trading hit 72.42, and the three-weeks RSI is set at 68.75 for Harmonic Inc. [HLIT]. The present Moving Average for the last 50 days of trading for this stock 11.97, while it was recorded at 14.02 for the last single week of trading, and 10.11 for the last 200 days.

Harmonic Inc. [HLIT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Harmonic Inc. [HLIT] shares currently have an operating margin of +3.84 and a Gross Margin at +48.75. Harmonic Inc.’s Net Margin is presently recorded at +2.61.

Return on Equity for this stock inclined to 4.78, with Return on Assets sitting at 2.06.

Harmonic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.50.

Harmonic Inc. [HLIT]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Harmonic Inc. [HLIT]

There are presently around $1,496 million, or 90.70% 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 17,454,946, which is approximately -2.054% of the company’s market cap and around 1.40% of the total institutional ownership; BLACKROCK INC., holding 15,503,726 shares of the stock with an approximate value of $224.03 million in HLIT stocks shares; and SCOPIA CAPITAL MANAGEMENT LP, currently with $142.25 million in HLIT stock with ownership of nearly -1.535% of the company’s market capitalization.

Positions in Harmonic Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 86 institutional holders increased their position in Harmonic Inc. [NASDAQ:HLIT] by around 5,596,394 shares. Additionally, 90 investors decreased positions by around 3,974,887 shares, while 30 investors held positions by with 93,936,038 shares. The mentioned changes placed institutional holdings at 103,507,319 shares, according to the latest SEC report filing. HLIT stock had 27 new institutional investments in for a total of 1,248,001 shares, while 20 institutional investors sold positions of 1,056,187 shares during the same period.

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