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Harman International Industries (HAR) designs, develops, manufactures, and markets audio products, lighting solutions, and electronic systems, as well as digitally integrated audio and infotainment systems for the automotive industry worldwide.
Its Infotainment segment offers infotainment systems for vehicle applications to be installed primarily as original equipment by automotive manufacturers.
The companys Lifestyle segment provides automotive audio systems for vehicle applications; and a range of mid-to high-end loudspeaker and electronics for home, multimedia, and mobile applications. It also offers home audio and theater systems, and distributed systems for home applications; a range of accessories, such as earbuds and noise cancelling headphones for multimedia applications; transducers and built-in speakers for notebook computers; audio systems for personal computers; and aftermarket mobile products, including speakers, amplifiers, and digital signal processors that deliver in-car audio. This segment markets its products under the JBL, AKG, Harman/Kardon, Infinity, Mark Levinson, Revel, Logic 7, Lexicon, and Selenium brand names. Its Professional segment provides a range of loudspeakers, power amplifiers, digital signal processors, microphones, headphones, mixing consoles, and IDX information delivery systems for concert halls, stadiums, airports, houses of worship, and other public spaces; products to the sound reinforcement, music instrument support, and broadcast and recording segments of the professional audio market; systems solutions for professional installations and users; and lighting solutions to the entertainment, architectural, and commercial sectors. This segment markets its products under the JBL Professional, AKG, Crown, Soundcraft, Lexicon, DigiTech, dbx, BSS, Studer, Martin, and Selenium brand names.
Shares have formed a bullish "cup & handle" and higher share prices are expected for this stock. Note that the firm reports its quarterly results on October 31.
52-Week Trading Range: $36.92 - $73.39
Entry Point: $72.50
Stop Loss: $68.87
Target Price: $79.75
We are taking profits on HAR. If you elect to stay in the trade, raise your stop loss to $79 to protect your gains.
