Harmonic Inc. [HLIT] Is Currently 20.03 above its 200 Period Moving Avg: What Does This Mean?

Harmonic Inc. [NASDAQ: HLIT] traded at a high on 05/09/23, posting a 20.03 gain after which it closed the day’ session at $16.18. The company report on May 8, 2023 at 4:05 PM that Harmonic Announces First Quarter 2023 Results.

Broadband revenue up 23% and Video SaaS revenue up 72% year over year.

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Harmonic Inc. (NASDAQ: HLIT) today announced its unaudited results for the first quarter of 2023.

The results of the trading session contributed to over 4511740 shares changing hands. Over the past one week, the price volatility of Harmonic Inc. stands at 5.50% while the volatility over the past one month is 3.51%.

The market cap for HLIT stock reached $1.81 billion, with 106.47 million shares outstanding and 102.58 million shares in the current float. Compared to the average trading volume of 1.27M shares, HLIT reached a trading volume of 4511740 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 $20.00 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 1.80. 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.

Jefferies have made an estimate for Harmonic Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 09, 2023. While these analysts kept the previous recommendation, Rosenblatt raised their target price to Buy. The new note on the price target was released on May 24, 2022, representing the official price target for Harmonic Inc. stock. Previously, the target price had yet another raise to $11, while Barclays analysts kept a Overweight rating on HLIT stock.

The Average True Range (ATR) for Harmonic Inc. is set at 0.60, with the Price to Sales ratio for HLIT stock in the period of the last 12 months amounting to 2.89. The Price to Book ratio for the last quarter was 5.30, with the Price to Cash per share for the same quarter was set at 0.80.

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 15.82. With this latest performance, HLIT shares gained by 4.39% in over the last four-week period, additionally plugging by 15.99% over the last 6 months – not to mention a rise of 76.64% 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 69.25, with the RSI for the last a single of trading hit 75.67, and the three-weeks RSI is set at 65.11 for Harmonic Inc. [HLIT]. The present Moving Average for the last 50 days of trading for this stock 13.90, while it was recorded at 14.01 for the last single week of trading, and 13.32 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 +7.90 and a Gross Margin at +48.67. Harmonic Inc.’s Net Margin is presently recorded at +4.51.

Return on Total Capital for HLIT is now 10.17, given the latest momentum, and Return on Invested Capital for the company is 7.07. Return on Equity for this stock inclined to 9.08, with Return on Assets sitting at 4.02. When it comes to the capital structure of this company, Harmonic Inc. [HLIT] has a Total Debt to Total Equity ratio set at 49.55. Additionally, HLIT Total Debt to Total Capital is recorded at 33.13, with Total Debt to Total Assets ending up at 22.64. Long-Term Debt to Equity for the company is recorded at 10.87, with the Long-Term Debt to Total Capital now at 7.27.

Reflecting on the efficiency of the workforce at the company, Harmonic Inc. [HLIT] managed to generate an average of $21,031 per employee. Receivables Turnover for the company is 5.93 with a Total Asset Turnover recorded at a value of 0.89.Harmonic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.10.

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 $1,751 million, or 97.73% of HLIT stock, in the hands of institutional investors. The top three institutional holders of HLIT stocks are: BLACKROCK INC. with ownership of 16,528,285, which is approximately 3.325% of the company’s market cap and around 1.20% of the total institutional ownership; VANGUARD GROUP INC, holding 7,591,061 shares of the stock with an approximate value of $122.82 million in HLIT stocks shares; and TRIGRAN INVESTMENTS, INC., currently with $119.53 million in HLIT stock with ownership of nearly 8.082% of the company’s market capitalization.

Positions in Harmonic Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 119 institutional holders increased their position in Harmonic Inc. [NASDAQ:HLIT] by around 17,748,739 shares. Additionally, 98 investors decreased positions by around 17,917,863 shares, while 27 investors held positions by with 72,552,682 shares. The mentioned changes placed institutional holdings at 108,219,284 shares, according to the latest SEC report filing. HLIT stock had 31 new institutional investments in for a total of 3,709,201 shares, while 28 institutional investors sold positions of 1,578,874 shares during the same period.


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