Harmonic (HLIT) Stock Forecast, Price & News

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Harmonic in the last twelve months. There are currently 6 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" HLIT shares.
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6 brokerages have issued twelve-month target prices for Harmonic's shares. Their HLIT share price forecasts range from $17.00 to $23.00. On average, they expect the company's stock price to reach $20.17 in the next year. This suggests a possible upside of 13.0% from the stock's current price.
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Harmonic's stock was trading at $13.10 at the beginning of 2023. Since then, HLIT stock has increased by 36.3% and is now trading at $17.85.
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The company is scheduled to release its next quarterly earnings announcement on Monday, August 7th 2023.
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Harmonic Inc. (NASDAQ:HLIT) released its quarterly earnings results on Sunday, October, 31st. The communications equipment provider reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.06. The communications equipment provider had revenue of $126.32 million for the quarter, compared to analyst estimates of $118.62 million. Harmonic had a trailing twelve-month return on equity of 13.52% and a net margin of 5.48%. The company's quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.02) EPS.

ETFs with the largest weight of Harmonic (NASDAQ:HLIT) stock in their portfolio include iShares North American Tech-Multimedia Networking ETF (IGN), SPDR S&P Telecom ETF (XTL), Invesco Dynamic Networking ETF (PXQ), Invesco S&P SmallCap Information Technology ETF (PSCT), Inspire Fidelis Multi Factor ETF (FDLS), Invesco S&P SmallCap 600 Pure Growth ETF (RZG), Syntax Stratified SmallCap ETF (SSLY) and Invesco DWA SmallCap Momentum ETF (DWAS).

Harmonic updated its second quarter 2023 earnings guidance on Monday, May, 8th. The company provided earnings per share guidance of $0.11-$0.15 for the period, compared to the consensus EPS estimate of $0.13. The company issued revenue guidance of $161.00 million-$171.00 million, compared to the consensus revenue estimate of $172.78 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 a number of institutional and retail investors. Top institutional investors include BlackRock Inc. (14.99%), Trigran Investments Inc. (7.60%), Wellington Management Group LLP (7.01%), Scopia Capital Management LP (5.34%), Dimensional Fund Advisors LP (3.51%) and Hood River Capital Management LLC (3.22%). Insiders that own company stock include David Krall, Ian Graham, Neven Haltmayer, Nimrod Ben-Natan, Patrick Harshman and Sanjay Kalra.
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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 $17.85.

Harmonic (NASDAQ:HLIT) has a market capitalization of $1.99 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 $0.31 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.