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 Wall Street analysts have issued twelve-month price objectives for Harmonic's shares. Their HLIT share price forecasts range from $17.00 to $23.00. On average, they predict the company's stock price to reach $19.67 in the next twelve months. This suggests a possible upside of 38.3% 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 8.5% and is now trading at $14.22.
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The company is scheduled to release its next quarterly earnings announcement on Monday, May 1st 2023.
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Harmonic Inc. (NASDAQ:HLIT) issued its quarterly earnings data on Sunday, October, 31st. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.06. The communications equipment provider earned $126.32 million during the quarter, compared to analyst estimates of $118.62 million. Harmonic had a net margin of 4.51% and a trailing twelve-month return on equity of 12.23%. The business's revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the firm 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 DWA Technology Momentum ETF (PTF), Invesco S&P SmallCap Information Technology ETF (PSCT), Invesco S&P SmallCap 600 Pure Growth ETF (RZG), Syntax Stratified SmallCap ETF (SSLY) and ProShares Ultra Communication Services (LTL).

Harmonic issued an update on its FY23 earnings guidance on Monday, January, 30th. The company provided earnings per share (EPS) guidance of $0.56-0.72 for the period, compared to the consensus estimate of $0.73. The company issued revenue guidance of $695-735 million, compared to the consensus revenue estimate of $733.32 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 retail and institutional investors. Top institutional investors include Dimensional Fund Advisors LP (4.34%), Driehaus Capital Management LLC (2.77%), Geode Capital Management LLC (1.77%), Victory Capital Management Inc. (1.70%), Victory Capital Management Inc. (1.61%) and Victory Capital Management Inc. (1.69%). 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 $14.22.

Harmonic (NASDAQ:HLIT) has a market capitalization of $1.58 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 $0.26 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.