The price of Harmonic, Inc. (NASDAQ:HLIT) shares last traded on Wall Street fell -2.27% to $9.89.
Based on available information, 6 analysts follow Harmonic, Inc. (NASDAQ:HLIT). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $20.00 and a low of $16.00, we find $18.00. Given the previous closing price of $10.12, this indicates a potential upside of 77.87 percent. HLIT stock price is now -0.87% away from the 50-day moving average and -26.90% away from the 200-day moving average. The market capitalization of the company currently stands at $1.11B.
Among analysts, 0 rate the stock a hold while 5 rate it a buy. Brokers who have rated the stock have averaged $17.67 as their price target over the next twelve months.
With the price target enhanced from $15 to $16, Raymond James Upgraded its rating from Outperform to Strong Buy for Harmonic, Inc. (NASDAQ: HLIT).
In other news, HARSHMAN PATRICK, President and CEO sold 15,179 shares of the company’s stock on Dec 14. The stock was sold for $215,388 at an average price of $14.19. Upon completion of the transaction, the President and CEO now directly owns 483,642 shares in the company, valued at $4.78 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 13, President and CEO HARSHMAN PATRICK sold 69,090 shares of the business’s stock. A total of $922,075 was realized by selling the stock at an average price of $13.35. This leaves the insider owning 474,780 shares of the company worth $4.7 million. Insiders disposed of 850,450 shares of company stock worth roughly $8.41 million over the past 1 year. A total of 2.56% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HLIT stock. A new stake in Harmonic, Inc. shares was purchased by TORONADO PARTNERS, LLC during the first quarter worth $7,973,000. LISANTI CAPITAL GROWTH, LLC invested $5,147,000 in shares of HLIT during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in Harmonic, Inc. valued at approximately $2,881,000. CERITY PARTNERS LLC acquired a new stake in HLIT for approximately $2,864,000. EAM GLOBAL INVESTORS LLC purchased a new stake in HLIT valued at around $2,530,000 in the second quarter. In total, there are 292 active investors with 103.55% ownership of the company’s stock.
A candlestick chart of Harmonic, Inc. (NASDAQ: HLIT) showed a price of $10.09 on Friday morning. During the past 12 months, Harmonic, Inc. has had a low of $8.80 and a high of $18.43. As of last week, the company has a debt-to-equity ratio of 0.46, a current ratio of 1.15, and a quick ratio of 0.76. According to the stock market information, the enterprise value for the company is $1.19B, which is based on a 53.23 price-to-earnings ratio, a 2.74 price-to-earnings-growth ratio, and a beta of 0.91. The fifty day moving average price for HLIT is $9.97 and a two-hundred day moving average price translates $13.50 for the stock.
The latest earnings results from Harmonic, Inc. (NASDAQ: HLIT) was released for Jun, 2023. According to the Communication Equipment Company, earnings per share came in at $0.12, missing analysts’ expectations of $0.13 by -0.01. This compares to $0.14 EPS in the same period last year. The net profit margin was 3.40% and return on equity was 6.73% for HLIT. The company reported revenue of $155.96 million for the quarter, compared to $157.45 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.94 percent. For the current quarter, analysts expect HLIT to generate $132.88M in revenue.
Harmonic, Inc.(HLIT) Company Profile
Harmonic Inc., together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Broadband. The Video segment sells video processing, production, and playout solutions and services to broadband operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies. This segment’s video processing appliance solutions include network management and application software, and hardware products, such as encoders, video servers, high-density stream processing systems, and edge processors. This segment also provides software-as-a-service (SaaS) solutions, which enables the packaging and delivery of streaming services, including live streaming, video-on-demand, catch-up TV, start-over TV, network-DVR, and cloud-DVR services through HTTP streaming to various device along with dynamic and personal ad insertion. The Broadband segment offers CableOS software-based broadband access solutions; and CableOS central cloud services primarily to broadband operators. Its products enable customers to create, prepare, store, playout, and deliver a range of broadcast and streaming video services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones. The company also provides technical support and professional services, such as maintenance and support, consulting, implementation, program management, technical design and planning, building and site preparation, integration and equipment installation, end-to-end system testing, and training, as well as SaaS-related support and deployment. It sells its products through its direct sales force, as well as through independent resellers and systems integrators. Harmonic Inc. was incorporated in 1988 and is headquartered in San Jose, California.
