Raymond James raised the price target for the Harmonic, Inc. (NASDAQ:HLIT) stock from “an Outperform” to “a Strong buy”. The rating was released on August 10, 2023, according to finviz. We previously noted in another research note published on January 09, 2023 by Jefferies that upgraded the stock from a Hold to a Buy with a price target of $19 for HLIT stock. The research report from Rosenblatt has initiated the stock to Buy, with a price target set at $15. The stock was upgraded by Barclays, who disclosed in a research note on April 21, 2022, from Equal Weight to Overweight and set the price objective to $11. In their research brief published June 22, 2021, Needham analysts initiated the Harmonic, Inc. stock to Buy with a price target of $9.50.
The latest trade, Performances and Moving Averages give us the following Picture
The firm’s stock price fluctuated 22.58% within the last five trades and 23.50% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 23.71% in the last 6 months and 36.50% was added to its value over the previous 3 months. HLIT stock is trading at a margin of 19.76%, 23.40% and 25.04% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
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As of the close of trading, HLIT deals in the Technology domain. The stock is trading -4.25 percent below its 52-week high and 66.59 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 39.57. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Harmonic, Inc.’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at 0.15 percent and the profit margin is 10.22 percent, and the company has reported a gross margin of 48.92 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $1.71 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio for Harmonic, Inc. (NASDAQ:HLIT) is 30.18. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 13.72. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 3.08 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 4.33, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 2.22 percent of Harmonic, Inc. shares are owned by insiders, and 101.71 percent are held by financial institutions. HARSHMAN PATRICK, the Officer at Harmonic, Inc. (HLIT) has proposed sale 200,000 shares of firm on Jul 31 ’24 at a price of $14.14 against the total amount of $2.83 million. In another inside trade, Graham Ian, Officer of Harmonic, Inc. (NASDAQ:HLIT) proposed sale 60,122 shares of the firm on Jul 31 ’24 for a total worth of $0.87 million at a price of $14.44. An inside trade which took place on Jul 31 ’24, Officer of Harmonic, Inc. Haltmayer Neven proposed sale 40,000 shares of firm against total price of $0.58 million at the cost of $14.41 per share.
