The share price of Harmonic Inc. (NASDAQ:HLIT) rose to $11.30 per share on Thursday from $11.14. While Harmonic Inc. has overperformed by 1.44%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, HLIT rose by 12.10%, with highs and lows ranging from $12.22 to $8.25, whereas the simple moving average jumped by 15.80% in the last 200 days.
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On May 24, 2022, Rosenblatt started tracking Harmonic Inc. (NASDAQ: HLIT) recommending Buy. A report published by Barclays on April 21, 2022, Upgraded its rating to ‘Overweight’ for HLIT. Needham also rated HLIT shares as ‘Buy’, setting a target price of $9.50 on the company’s shares in an initiating report dated June 22, 2021. Barclays initiated its ‘Equal Weight’ rating for HLIT, as published in its report on May 22, 2020. JP Morgan’s report from April 14, 2020 suggests a price prediction of $9 for HLIT shares, giving the stock a ‘Overweight’ rating. Needham also rated the stock as ‘Buy’.
Analysis of Harmonic Inc. (HLIT)
Further, the quarter-over-quarter increase in sales is 32.10%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Harmonic Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 6.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and HLIT is recording an average volume of 678.33K. On a monthly basis, the volatility of the stock is set at 3.70%, whereas on a weekly basis, it is put at 4.09%, with a gain of 4.44% over the past seven days. Furthermore, long-term investors anticipate a median target price of $13.50, showing growth from the present price of $11.30, which can serve as yet another indication of whether HLIT is worth investing in or should be passed over.
How Do You Analyze Harmonic Inc. Shares?
A leading company in the Communication Equipment sector, Harmonic Inc. (HLIT) is based in the USA. When comparing Harmonic Inc. shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 79.02, there is a growth in quarterly earnings of 76.00%.
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 99.69% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in HLIT shares?
The recent increase in stakes in HLIT appears to be a result of several institutional investors and hedge funds increasing their positions. T. Rowe Price Associates, Inc.’s position in HLIT has increased by 1.62% in the first quarter. The company now owns 17,820,998 shares of the stock, with a value of $154.51 million, following the purchase of 283,639 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in HLIT during the first quarter, upping its stake by 0.37%. During the last quarter, the company picked up 55,315 additional shares for a total stake of worth $129.91 million, bringing number of shares owned by the company to 14,984,025.
During the first quarter, Scopia Capital Management LP added a 1,645,698 position in HLIT. The Vanguard Group, Inc. purchased an additional 0.26 million shares in the last quarter, increasing its holdings by 4.08%, now holding 6.74 million shares worth $58.4 million. At the end of the first quarter, Trigran Investments, Inc. increased its HLIT holdings by 53.98% and now holds 5.62 million HLIT shares valued at $48.74 million with the added 1.97 million shares during the period. HLIT shares are owned by institutional investors to the tune of 99.69% at present.