Harmonic - Value Alert
Texas (September 22, 2013) Wax Ink has issued a Positive Investment Interest opinion for Harmonic, Inc. (Nasdaq: HLIT) based on a recent baseline equity review which placed fair value between $18-$20.
Positive investment interest means that continued investment research is warranted at this time.
The recent close of $7.64 is approximately 28% below the fair value buy target for the stock and approximately 65% below the fair value close target for the stock. The recent close is also 9% above analysts’ twelve-month $7.00 median price target for the stock.
The recent close represents a 61% increase in the one year price of the stock, while year-over-year sales decreased 3%, year-over-year earnings decreased 38%, and year-over-year debt increased 0%.
The stock currently has a trailing twelve-month PE Ratio of 27, and a PEG Ratio of 3.2 basis estimated forward earnings growth of 8.5%.
In the past 52 weeks, share prices have moved between a high of $8.04 and a low of $3.96, placing equilibrium at $6.81.
With the recent close, the stock is trading 5% below the 52 week high, 48% above the 52 week low, and 11% above equilibrium.
The three-month average daily trading volume for the stock is approximately 789,000 shares.
Harmonic designs, manufactures, and sells video infrastructure products and system solutions to create, prepare, and deliver broadcast and on-demand video services for televisions, personal computers, tablets and mobile devices in the United States and internationally.
The company's listed competitors include Aker Solutions ASA, Cameron International Corporation,and GE Oil and Gas.
Financial information that may be contained herein, is based on the company's most recent annual SEC filing for year ending December 31, 2012.
All prices are per share unless otherwise noted.
Wax Ink currently has no investment position in any company mentioned in this alert.
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