Harmonic Stock Price, News & Analysis (NASDAQ:HLIT)

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Harmonic in the last year. There are currently 5 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" HLIT shares.
View HLIT analyst ratings or view top-rated stocks.

6 Wall Street research analysts have issued 1 year target prices for Harmonic's stock. Their HLIT share price targets range from $14.00 to $20.00. On average, they expect the company's share price to reach $17.33 in the next year. This suggests a possible upside of 60.6% from the stock's current price.
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Harmonic's stock was trading at $13.10 at the beginning of the year. Since then, HLIT stock has decreased by 17.6% and is now trading at $10.79.
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Harmonic saw a increase in short interest in the month of November. As of November 15th, there was short interest totaling 9,160,000 shares, an increase of 12.1% from the October 31st total of 8,170,000 shares. Based on an average daily volume of 1,910,000 shares, the days-to-cover ratio is currently 4.8 days. Currently, 8.4% of the shares of the stock are short sold.
View Harmonic's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Monday, January 29th 2024.
View our HLIT earnings forecast.

Harmonic Inc. (NASDAQ:HLIT) released its quarterly earnings results on Monday, October, 30th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by $0.01. The communications equipment provider had revenue of $127.20 million for the quarter, compared to analyst estimates of $132.63 million. Harmonic had a net margin of 1.04% and a trailing twelve-month return on equity of 6.97%.

ETFs with the largest weight of Harmonic (NASDAQ:HLIT) stock in their portfolio include SPDR S&P Telecom ETF (XTL), iShares North American Tech-Multimedia Networking ETF (IGN), Invesco Dynamic Software ETF (PSJ), Invesco Dorsey Wright Technology Momentum ETF (PTF) and Invesco S&P SmallCap Information Technology ETF (PSCT).SPDR S&P 600 Small Cap ETF (SLY).

Harmonic issued an update on its FY23 earnings guidance on Monday, October, 30th. The company provided EPS guidance of $0.30-$0.38 for the period, compared to the consensus earnings per share estimate of $0.41. The company issued revenue guidance of $591-$616 million, compared to the consensus revenue estimate of $625.45 million.

100 employees have rated Harmonic Chief Executive Officer Patrick J. Harshman on Glassdoor.com. Patrick J. Harshman has an approval rating of 46% among the company's employees. This puts Patrick J. Harshman in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies. 75.0% of employees surveyed would recommend working at Harmonic to a friend.

Based on aggregate information from My MarketBeat watchlists, some companies that other Harmonic investors own include Coty (COTY), Intelsat (I), Advanced Micro Devices (AMD), Energy Transfer (ET), Zynga (ZNGA), American Eagle Outfitters (AEO), Cloudera (CLDR), Designer Brands (DBI), Block (SQ) and Twitter (TWTR).

Harmonic's stock is owned by a number of retail and institutional investors. Top institutional shareholders include Trigran Investments Inc. (8.59%), Wellington Management Group LLP (6.96%), Scopia Capital Management LP (5.04%), Ameriprise Financial Inc. (2.06%), Toronado Partners LLC (1.79%) and Leeward Investments LLC MA (1.76%). Insiders that own company stock include Ian Graham, Neven Haltmayer, Nimrod Ben-Natan, Patrick Harshman and Sanjay Kalra.
View institutional ownership trends.

Shares of HLIT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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