Harmonic (NASDAQ:HLIT) Share Price Passes Above 200 Day Moving Average – What’s Next?

Harmonic Inc. (NASDAQ:HLIT)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.05 and traded as high as $14.87. Harmonic shares last traded at $14.66, with a volume of 2,552,773 shares.

Analyst Ratings Changes

Several brokerages recently issued reports on HLIT. Needham & Company LLC lifted their target price on Harmonic from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Wall Street Zen raised Harmonic from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Weiss Ratings upgraded Harmonic from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, June 17th. Jefferies Financial Group reaffirmed a “hold” rating and set a $15.00 price objective on shares of Harmonic in a report on Tuesday, May 12th. Finally, Barclays upped their target price on shares of Harmonic from $11.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $16.60.

Harmonic Price Performance

The business has a 50 day moving average price of $13.20 and a two-hundred day moving average price of $11.09. The stock has a market cap of $1.61 billion, a PE ratio of -40.13 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 2.27.

Insider Buying and Selling at Harmonic

In other Harmonic news, Director Stephanie Copeland sold 4,300 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $13.30, for a total value of $57,190.00. Following the completion of the transaction, the director owned 20,752 shares in the company, valued at $276,001.60. This represents a 17.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Neven Haltmayer sold 31,766 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $13.24, for a total value of $420,581.84. Following the sale, the senior vice president directly owned 133,924 shares of the company’s stock, valued at approximately $1,773,153.76. This represents a 19.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.74% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in shares of Harmonic by 7.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 16,926 shares of the communications equipment provider’s stock valued at $172,000 after acquiring an additional 1,162 shares during the period. Sei Investments Co. lifted its stake in Harmonic by 2.0% in the first quarter. Sei Investments Co. now owns 70,742 shares of the communications equipment provider’s stock valued at $635,000 after purchasing an additional 1,383 shares during the last quarter. Aristides Capital LLC grew its holdings in Harmonic by 7.2% during the first quarter. Aristides Capital LLC now owns 21,943 shares of the communications equipment provider’s stock valued at $197,000 after purchasing an additional 1,483 shares during the period. Inspire Investing LLC grew its holdings in Harmonic by 5.4% during the fourth quarter. Inspire Investing LLC now owns 47,233 shares of the communications equipment provider’s stock valued at $467,000 after purchasing an additional 2,428 shares during the period. Finally, Stephens Inc. AR increased its position in Harmonic by 6.5% in the fourth quarter. Stephens Inc. AR now owns 41,893 shares of the communications equipment provider’s stock worth $414,000 after buying an additional 2,548 shares during the last quarter. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

About Harmonic

Harmonic Inc (NASDAQ:HLIT) is a leading provider of video delivery infrastructure that enables service providers, broadcasters and content owners to capture, process and distribute high‐quality video across broadcast, cable, satellite and IP networks. The company’s portfolio spans real‐time video compression solutions, including encoders and transcoders, as well as storage and server products designed for live production, playout and streaming on any device.

Harmonic’s product lines include cable edge QAM modules and set‐top video processing platforms for traditional pay‐TV operators, alongside cloud‐native software for over‐the‐top (OTT) delivery, origin servers and content delivery network (CDN) services.