Market Analysts see Harmonic Inc. [HLIT] gaining to $15. Time to buy?

Harmonic Inc. [NASDAQ: HLIT] traded at a high on 12/14/22, posting a 7.73 gain after which it closed the day’ session at $14.21. The company report on November 23, 2022 that Harmonic to Participate in Upcoming December 2022 Investor Conferences.

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Harmonic (NASDAQ: HLIT) today announced that Patrick J. Harshman, President and CEO of Harmonic, will participate in fireside chats at the Raymond James 2022 Technology Investors Conference in New York on December 5 at 12:25 p.m. PT/3:25 p.m. ET, and the Barclays 2022 Global Technology, Media and Telecommunications Conference in San Francisco on December 8 at 12:45 p.m. PT/3:45 p.m. ET.

Live audio webcasts of both fireside chats will be available on Harmonic’s website at Archived webcasts will remain posted on the Company’s investor relations website for 30 days.

The results of the trading session contributed to over 4111288 shares changing hands. Over the past one week, the price volatility of Harmonic Inc. stands at 4.86% while the volatility over the past one month is 4.37%.

The market cap for HLIT stock reached $1.48 billion, with 105.23 million shares outstanding and 102.58 million shares in the current float. Compared to the average trading volume of 1.84M shares, HLIT reached a trading volume of 4111288 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $17.71 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 0.72, with the Price to Sales ratio for HLIT stock in the period of the last 12 months amounting to 2.41. The Price to Book ratio for the last quarter was 4.97, with the Price to Cash per share for the same quarter was set at 1.01.

How has HLIT stock performed recently?

Harmonic Inc. [HLIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.00. With this latest performance, HLIT shares gained by 5.97% in over the last four-week period, additionally plugging by 62.40% over the last 6 months – not to mention a rise of 33.80% 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 52.12, with the RSI for the last a single of trading hit 53.66, and the three-weeks RSI is set at 52.25 for Harmonic Inc. [HLIT]. The present Moving Average for the last 50 days of trading for this stock 14.13, while it was recorded at 13.62 for the last single week of trading, and 10.92 for the last 200 days.

Harmonic Inc. [HLIT]: Deeper insight into the fundamentals

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 1.10 and a Current Ratio set at 1.50.

Earnings analysis for Harmonic Inc. [HLIT]

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%.

Insider trade positions for Harmonic Inc. [HLIT]

There are presently around $1,499 million, or 98.86% of HLIT stock, in the hands of institutional investors. The top three institutional holders of HLIT stocks are: BLACKROCK INC. with ownership of 15,996,464, which is approximately 3.178% of the company’s market cap and around 1.20% of the total institutional ownership; T. ROWE PRICE INVESTMENT MANAGEMENT, INC., holding 10,131,817 shares of the stock with an approximate value of $143.97 million in HLIT stocks shares; and SCOPIA CAPITAL MANAGEMENT LP, currently with $108.36 million in HLIT stock with ownership of nearly -22.541% 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 125 institutional holders increased their position in Harmonic Inc. [NASDAQ:HLIT] by around 25,184,250 shares. Additionally, 72 investors decreased positions by around 23,262,462 shares, while 34 investors held positions by with 57,039,082 shares. The mentioned changes placed institutional holdings at 105,485,794 shares, according to the latest SEC report filing. HLIT stock had 49 new institutional investments in for a total of 16,680,272 shares, while 18 institutional investors sold positions of 770,770 shares during the same period.


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