NASDAQ:HLITHarmonic Stock Price, Forecast & News

$5.25

-0.14 (-2.60 %)

(As of 06/1/2020 04:00 PM ET)

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Today's Range

$5.02

Now: $5.25▼

$5.32

50-Day Range

$5.11

MA: $5.88▼

$6.76

52-Week Range

$4.44

Now: $5.25▼

$8.57

Volume789,969 shs

Average Volume836,381 shs

Market Capitalization$507.04 million

P/E RatioN/A

Dividend YieldN/A

Beta0.77

Harmonic Inc. designs, manufactures, and sells video infrastructure products and system solutions worldwide. Its products enable customers to create, prepare, and deliver a range of video and broadband services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones. The company operates in two segments, Video and Cable Access. The Video segment sells video processing, and production and playout solutions and services to cable operators, and satellite and telecommunications Pay-TV service providers, as well as to broadcast and media, including streaming media companies. This segment's video processing solutions include network management and application software, and hardware products, such as cloud media processing, broadcast and over-the-top encoders, contribution encoders, high-density transcoders and stream processing, multiscreen delivery, decoders and descramblers, and video servers. This segment also provides video-optimized storage systems; and unified video playout and processing software-as-a-service solutions. The Cable Access segment offers cable edge solutions and related services, including CableOS software-based cable access solutions; and narrowcast services gateway products primarily to cable operators. The company also provides technical support and professional services, such as maintenance and support, consulting, implementation, program management, technical design and planning, building and site preparation, integration and equipment installation, system testing, and training. Harmonic Inc. sells its products through its direct sales force, as well as through independent resellers and systems integrators. The company was founded in 1988 and is headquartered in San Jose, California.

Beat the Market (BTM) Rank^™

3.3 Analyst's Opinion

Consensus Rating
Harmonic has received a consensus rating of Buy. The company's average rating score is 2.67, and is based on 4 buy ratings, 2 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $7.88, Harmonic has a potential upside of 50.0% from its current price of $5.25.
Amount of Analyst Coverage
Harmonic has only been the subject of 4 research reports in the past 90 days.

2.2 Community Rank

Outperform Votes
Harmonic has received 287 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
Harmonic has received 374 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
Harmonic has received 56.58% “underperform” votes from our community.

MarketBeat's community ratings are surveys of what our community members think about Harmonic and other stocks. Vote “Outperform” if you believe HLIT will outperform the S&P 500 over the long term. Vote “Underperform” if you believe HLIT will underperform the S&P 500 over the long term. You may vote once every thirty days.

0.0 Dividend Strength

Dividend Yield
Harmonic does not currently pay a dividend.
Dividend Growth
Harmonic does not have a long track record of dividend growth.

1.0 Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Harmonic insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 4.10% of the stock of Harmonic is held by insiders.
Percentage Held by Institutions
88.19% of the stock of Harmonic is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6 Earnings and Valuation

Earnings Growth
Earnings for Harmonic are expected to grow in the coming year, from ($0.38) to ($0.10) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Harmonic is -29.17, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Harmonic is -29.17, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Harmonic has a P/B Ratio of 1.88. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

1.43 out of 5 stars

Industry, Sector and Symbol

Stock Exchange NASDAQ

Industry Radio & t.v. communications equipment

Sub-IndustryCommunications Equipment

SectorComputer and Technology

Current SymbolNASDAQ:HLIT

Previous Symbol

CUSIP41316010

CIK851310

Webwww.harmonicinc.com

Phone408-542-2500

Debt

Debt-to-Equity Ratio0.43

Current Ratio1.18

Quick Ratio1.00

Price-To-Earnings

Trailing P/E RatioN/A

Forward P/E RatioN/A

P/E GrowthN/A

Sales & Book Value

Annual Sales$402.87 million

Price / Sales1.26

Cash Flow$0.62 per share

Price / Cash Flow8.51

Book Value$2.79 per share

Price / Book1.88

Profitability

EPS (Most Recent Fiscal Year)$0.18

Net Income$-5,920,000.00

Net Margins-4.13%

Return on Equity3.34%

Return on Assets1.39%

Miscellaneous

Employees1,172

Outstanding Shares96,579,000

Market Cap$507.04 million

Next Earnings Date8/3/2020 (Estimated)

OptionableOptionable

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Harmonic (NASDAQ:HLIT) Frequently Asked Questions

How has Harmonic's stock been impacted by COVID-19 (Coronavirus)?

Harmonic's stock was trading at $5.53 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization. Since then, HLIT stock has decreased by 5.1% and is now trading at $5.25. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Harmonic?

6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Harmonic in the last year. There are currently 2 hold ratings and 4 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View analyst ratings for Harmonic.

When is Harmonic's next earnings date?

Harmonic is scheduled to release its next quarterly earnings announcement on Monday, August 3rd 2020. View our earnings forecast for Harmonic.

How were Harmonic's earnings last quarter?

Harmonic Inc (NASDAQ:HLIT) issued its quarterly earnings results on Monday, April, 27th. The communications equipment provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by $0.05. The communications equipment provider earned $78.40 million during the quarter, compared to analysts' expectations of $85.02 million. Harmonic had a positive return on equity of 3.34% and a negative net margin of 4.13%. The company's revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) EPS. View Harmonic's earnings history.

What guidance has Harmonic issued on next quarter's earnings?

Harmonic updated its second quarter earnings guidance on Monday, April, 27th. The company provided EPS guidance of $(0.18)-(0.09) for the period, compared to the Thomson Reuters consensus EPS estimate of $0.02. The company issued revenue guidance of $62-77 million, compared to the consensus revenue estimate of $97.24 million.

What price target have analysts set for HLIT?

6 Wall Street analysts have issued 12-month target prices for Harmonic's shares. Their forecasts range from $6.00 to $10.00. On average, they expect Harmonic's stock price to reach $7.88 in the next twelve months. This suggests a possible upside of 50.0% from the stock's current price. View analysts' price targets for Harmonic.

What are Wall Street analysts saying about Harmonic stock?

Here are some recent quotes from research analysts about Harmonic stock:

1. According to Zacks Investment Research, "Harmonic Inc. enables media companies and service providers to deliver ultra-high-quality broadcast and OTT video services to consumers globally.The company has also revolutionized cable access networking via the industry's first virtualized CCAP solution, enabling cable operators to more flexibly deploy gigabit internet service to consumers' homes and mobile devices. Whether simplifying OTT video delivery via innovative cloud and software-as-a-service (SaaS) technologies, or powering the delivery of gigabit internet cable services, Harmonic is changing the way media companies and service providers monetize live and VOD content on every screen. " (5/7/2020)
2. Northland Securities analysts commented, "We believe associated hardware/node revenue could add substantially to this amount, and increase our PT to $8.50 given this validation of HLIT’s leadership in next gen cable access. Key Points Historically we have used a rule of thumb metric for Cable Access deployments of roughly 2X low margin Remote PHY node revenue to 1X high margin network core/software revenue. Applying this to the roughly $40M in annual software license revenue from Comcast specified in the filing for the 2020-2022 time period, with $50M to be recognized in CY19 yields a total annual revenue contribution from $120M range, about in line with the $100M estimated going back to the original 2016 agreement . The agreement also included the issuance of 7.8M in warrants to $4.76 strike, all of which are deemed to be vested currently according to the filing." (7/10/2019)

Has Harmonic been receiving favorable news coverage?

News coverage about HLIT stock has trended extremely negative on Monday, according to InfoTrie Sentiment Analysis. InfoTrie identifies negative and positive news coverage by reviewing more than six thousand blog and news sources in real time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Harmonic earned a daily sentiment score of -5.0 on InfoTrie's scale. They also gave media stories about the communications equipment provider a news buzz of 0.0 out of 10, meaning that recent news coverage is extremely unlikely to have an impact on the stock's share price in the near term. View the latest news aboutHarmonic.

Who are some of Harmonic's key competitors?

Some companies that are related to Harmonic include Cisco Systems (CSCO), QUALCOMM (QCOM), Palo Alto Networks (PANW), Motorola Solutions (MSI), F5 Networks (FFIV), Ciena (CIEN), Juniper Networks (JNPR), Echostar (SATS), ViaSat (VSAT), InterDigital Wireless (IDCC), Infinera (INFN), Calix (CALX), NetGear (NTGR), Ribbon Communications (RBBN) and ADTRAN (ADTN). View all competitors.

What other stocks do shareholders of Harmonic own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Harmonic investors own include Coty (COTY), AMC Entertainment (AMC), Intelsat (I), Zynga (ZNGA), Twitter (TWTR), Carnival (CCL), Metlife (MET), Netflix (NFLX), Comcast (CMCSA) and Sirius XM (SIRI).

Who are Harmonic's key executives?

Harmonic's management team includes the following people:

Dr. Patrick J. Harshman, Pres, CEO & Director (Age 55, Pay $1.12M)
Mr. Sanjay Kalra, Sr. VP & CFO (Age 47, Pay $569.33k)
Mr. Eric Louvet, Sr. VP of Global Sales & Video Services (Age 48, Pay $685.7k)
Mr. Neven Haltmayer, Sr. VP of R&D - Video Bus. (Age 55, Pay $479.14k)
Mr. Nimrod Ben-Natan, Sr. VP & GM of Cable Access Bus. (Age 52, Pay $625.53k)

What is Harmonic's stock symbol?

Harmonic trades on the NASDAQ under the ticker symbol "HLIT."

Who are Harmonic's major shareholders?

Harmonic's stock is owned by a variety of institutional and retail investors. Top institutional investors include BlackRock Inc. (14.66%), Polar Asset Management Partners Inc. (4.56%), Wellington Management Group LLP (3.00%), State Street Corp (2.92%), Geode Capital Management LLC (1.39%) and Systematic Financial Management LP (1.01%). Company insiders that own Harmonic stock include Neven Haltmayer, Nimrod Ben-Natan, Patrick Harshman, Sanjay Kalra and Susan Swenson. View institutional ownership trends for Harmonic.

Which institutional investors are selling Harmonic stock?

HLIT stock was sold by a variety of institutional investors in the last quarter, including Raging Capital Management LLC, AXA, Invesco Ltd., Two Sigma Investments LP, Morgan Stanley, Parametric Portfolio Associates LLC, Bank of New York Mellon Corp, and Systematic Financial Management LP. Company insiders that have sold Harmonic company stock in the last year include Neven Haltmayer, Nimrod Ben-Natan, Patrick Harshman, and Sanjay Kalra. View insider buying and selling activity for Harmonic.

Which institutional investors are buying Harmonic stock?

HLIT stock was purchased by a variety of institutional investors in the last quarter, including Polar Asset Management Partners Inc., RK Capital Management LLC, State Street Corp, Wellington Management Group LLP, BNP Paribas Arbitrage SA, JPMorgan Chase & Co., Geode Capital Management LLC, and Mackenzie Financial Corp. View insider buying and selling activity for Harmonic.

How do I buy shares of Harmonic?

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

What is Harmonic's stock price today?

One share of HLIT stock can currently be purchased for approximately $5.25.

How big of a company is Harmonic?

Harmonic has a market capitalization of $507.04 million and generates $402.87 million in revenue each year. The communications equipment provider earns $-5,920,000.00 in net income (profit) each year or $0.18 on an earnings per share basis. Harmonic employs 1,172 workers across the globe.

What is Harmonic's official website?

The official website for Harmonic is www.harmonicinc.com.

How can I contact Harmonic?

Harmonic's mailing address is 4300 NORTH FIRST STREET, SAN JOSE CA, 95134. The communications equipment provider can be reached via phone at 408-542-2500 or via email at [email protected]

This page was last updated on 6/1/2020 by MarketBeat.com Staff