Harmonic, Inc. [NASDAQ: HLIT] closed the trading session at $11.85. The company report on January 29, 2024 at 4:05 PM that Harmonic Announces Fourth Quarter and Fiscal 2023 Results.
Record quarterly total revenue of $167.1 million, up 31% quarter over quarter.
Broadband revenue up 20% and Video SaaS revenue up 26% year over year.
The stocks have a year to date performance of -9.13 percent and weekly performance of 2.24 percent. The stock has been moved at -20.58 percent over the last six months. The stock has performed -8.35 percent around the most recent 30 days and changed 19.82 percent over the most recent 3-months.
If compared to the average trading volume of 1.93M shares, HLIT reached to a volume of 10029338 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $16.83 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 1.17. 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.
Raymond James have made an estimate for Harmonic, Inc. shares, keeping their opinion on the stock as Strong Buy, with their previous recommendation back on August 10, 2023.
The Average True Range (ATR) for Harmonic, Inc. is set at 0.46, with the Price to Sales ratio for HLIT stock in the period of the last 12 months amounting to 2.19. The Price to Book ratio for the last quarter was 3.05, with the Price to Cash per share for the same quarter was set at 0.75.
HLIT stock trade performance evaluation
Harmonic, Inc. [HLIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.24. With this latest performance, HLIT shares dropped by -8.35% in over the last four-week period, additionally sinking by -20.58% over the last 6 months – not to mention a drop of -19.66% 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 51.50, with the RSI for the last a single of trading hit 52.31, and the three-weeks RSI is set at 52.20 for Harmonic, Inc. [HLIT]. The present Moving Average for the last 50 days of trading for this stock 11.53, while it was recorded at 11.50 for the last single week of trading, and 12.70 for the last 200 days.
Harmonic, Inc. [HLIT]: An insightful look at the core fundamentals
Harmonic, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.91 and a Current Ratio set at 1.21.
Earnings per share (EPS) analysis for Harmonic, Inc. [HLIT] stock
With the latest financial reports released by the company, Harmonic, Inc. posted 0.12/share EPS, while the average EPS was predicted by analysts to be reported at 0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 50.00%. 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 38.90%.
Harmonic, Inc. [HLIT]: Institutional Ownership
The top three institutional holders of HLIT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HLIT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HLIT stock with ownership which is approximately 5.8325%.
