HLIT Stock Summary and Trading Ideas (Harmonic | NASDAQ:HLIT)

Harmonic Inc designs and manufactures video infrastructure products and system solutions to deliver video and broadband services to consumer devices. The firm operates in two segments: Video, which sells video processing, production, and playout solutions to cable operators and satellite and telecommunications providers; and Broadband which sells broadband access solutions and related services. Majority of the revenue generated from the company is from United States.

Harmonic trades on the NASDAQ stock market under the symbol HLIT.

As of December 13, 2024, HLIT stock price declined to $13.18 with 1,125,213 million shares trading.

HLIT has a beta of 1.62, meaning it tends to be more sensitive to market movements. HLIT has a correlation of 0.13 to the broad based SPY ETF.

HLIT has a market cap of $1.54 billion. This is considered a Small Cap stock.

Last quarter Harmonic reported $196 million in Revenue and $.26 earnings per share. This beat revenue expectation by $14 million and exceeded earnings estimates by $.04.

In the last 3 years, HLIT traded as high as $18.43 and as low as $8.25.

The top ETF exchange traded funds that HLIT belongs to (by Net Assets): IJR, VTI, IWM, VGT, VXF.

HLIT has underperformed the market in the last year with a return of +25.3%, while the SPY ETF gained +29.9%. In the last 3 month period, HLIT fell short of the market, returning -1.7%, while SPY returned +7.8%. However, in the most recent 2 weeks HLIT has outperformed the stock market by returning +2.8%, while SPY returned +0.3%.

HLIT support price is $13.07 and resistance is $13.65 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HLIT shares will trade within this expected range on the day.