Harmonic Inc. (HLIT): Is it worth Buying?

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Harmonic Inc. (NASDAQ:HLIT) changes shares on Thursday trading session, with a change of -0.29% or -$0.01 shares. The trading starts at $5.08 and closed at $5.12 throughout the day. The trading session low price was $5.03 and day high was $5.155 on Thursday, June 18. After the session, the Technology sector daily volume shifted to 0.46 million while its average volume is 784.39K. In other hand, the HLIT market cap reached to $493.04M. While, its current target price is $5.11 according to WSJ.

Checking out the performance report which defines the increase or decrease of prices for a specific period. For the last 5 trading sessions, its performance is up 2.10% and down -3.50% for month. Its quarterly performance was -3.50% below, while its half year performance is down -35.71%. HLIT yearly performance stood at negative -11.22% and fall -34.55% for year-to-date. Current recommendation for Harmonic Inc. is 2.10.

Earnings per share or EPS is an important financial measure, which defines the profitability of a company. HLIT EPS (TTM) for 12-month is -0.18. EPS for this year is 73.10%, while for the next year its value is 0.16. Its EPS Q/Q reached -79.10%. It has an EPS of 33.30% up for past five years and for the next five years will be up 14.40%.

Let’s take a look on the analyst recommendations on HLIT for the current month and previous month. For the current month, 4 of 8 analysts recommend stock as Buy while 0 as Sell, 1 as overweight, 0 as underweight and 3 as Hold. As compared with the previous month ratings, 7 analysts participate in stock recommendation. Out of 7, 0 rated it sell, 5 rated it as Buy and 1 as Hold Ratings. On the other hand, target price ranges from $5.75-$9.00. Average target price for HLIT was reached at $7.44.

Price (T.Rowe) Associates Inc, Blackrock Inc. and Scopia Capital Management LP are the top three holders in Harmonic Inc. (HLIT) stock. On Mar 30, 2020, Price (T.Rowe) Associates Inc has 15.78 million shares which valued 90.87 million. On Mar 30, 2020, Blackrock Inc. owned 14.05 million shares which valued at 80.95 million. On Mar 30, 2020, Scopia Capital Management LP has a total of 6.21 million shares which valued at 35.75 million. In the end, Scopia Capital Management LP have 6.43% shares outstanding of Harmonic Inc. (HLIT) on Mar 30, 2020. The insider ownership moved to 2.70% and institutional holding shifted to 89.60%.

The company posted an EPS (TTM) of -0.18. According to the most recent quarter report on (Jun 2020), 8 analysts estimated an average EPS of -0.13, while -0.04 EPS posted a year ago period. Analyst Estimated EPS for HLIT published in the report was -0.15–0.12 during the same period. Comparing with last year, the average estimated EPS was -0.04 which is higher than -0.1 which was posted for recent quarter EPS.

A brief look on simple moving average (SMA) that determines the market price can impact a market. The SMA for HLIT fall -23.55% for period of 200 days. SMA for 50 days was -10.75% which is showing red signal, while SMA-20 was -5.73%. The moving average value for Harmonic Inc. (HLIT) is 6.51 and 5.46 for 200 and 50 days respectively.

Let’s take a look on the insider transactions, in which multiple shareholders are showing interest in HLIT stock. On Feb 19, HARSHMAN PATRICK, President and CEO, sold 63,662 trading shares at the cost of $6.75, which valued at 0.43 million. On Feb 06, HARSHMAN PATRICK, President and CEO, sold 52,821 shares at the cost of $7.02, with total shares of 924,409. On Dec 12, Haltmayer Neven, SVP, Video R&D, sold 30,000 shares at the cost of 8.25. After this transaction, Haltmayer Neven total shares reached to 173,008 which valued at 0.25 million.