Harmonic (HLIT) Stock Forecast, Price & News

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

6 Wall Street analysts have issued 1 year price targets for Harmonic's stock. Their HLIT share price forecasts range from $16.00 to $20.00. On average, they anticipate the company's share price to reach $18.50 in the next twelve months. This suggests a possible upside of 94.1% from the stock's current price.
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Harmonic's stock was trading at $13.10 at the start of the year. Since then, HLIT shares have decreased by 27.3% and is now trading at $9.53.
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Harmonic saw a decline in short interest in August. As of August 31st, there was short interest totaling 6,440,000 shares, a decline of 5.4% from the August 15th total of 6,810,000 shares. Based on an average daily trading volume, of 1,670,000 shares, the short-interest ratio is presently 3.9 days. Approximately 5.9% of the company's shares are sold short.
View Harmonic's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Monday, October 30th 2023.
View our HLIT earnings forecast.

Harmonic Inc. (NASDAQ:HLIT) released its earnings results on Monday, July, 31st. The communications equipment provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.08 by $0.01. The communications equipment provider earned $155.96 million during the quarter, compared to the consensus estimate of $167.27 million. Harmonic had a trailing twelve-month return on equity of 11.78% and a net margin of 3.40%.

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 updated its third quarter 2023 earnings guidance on Monday, July, 31st. The company provided EPS guidance of -$0.02-$0.02 for the period, compared to the consensus earnings per share estimate of $0.19. The company issued revenue guidance of $125.00 million-$140.00 million, compared to the consensus revenue estimate of $188.60 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 trades on the NASDAQ under the ticker symbol "HLIT."

Harmonic's stock is owned by many different institutional and retail investors. Top institutional shareholders include BlackRock Inc. (15.46%), Trigran Investments Inc. (6.22%), State Street Corp (3.40%), Dimensional Fund Advisors LP (2.95%), Scopia Capital Management LP (2.83%) and Geode Capital Management LLC (2.01%). 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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One share of HLIT stock can currently be purchased for approximately $9.53.

Harmonic (NASDAQ:HLIT) has a market capitalization of $1.07 billion and generates $624.96 million in revenue each year. The communications equipment provider earns $28.18 million in net income (profit) each year or $0.18 on an earnings per share basis.

The company employs 1,340 workers across the globe.

Harmonic's mailing address is 4300 NORTH FIRST STREET, SAN JOSE CA, 95134. The official website for the company is www.harmonicinc.com. The communications equipment provider can be reached via phone at (408) 542-2500, via email at investor@harmonicinc.com, or via fax at 408-542-2511.