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NASDAQ:HLIT

Harmonic - HLIT Stock Forecast, Price & News

$11.23
+0.09 (+0.81%)
(As of 08/12/2022 10:31 AM ET)
Add
Compare
Today's Range
$11.08
$11.29
50-Day Range
$8.40
$11.34
52-Week Range
$8.25
$12.22
Volume
12,533 shs
Average Volume
892,155 shs
Market Capitalization
$1.17 billion
P/E Ratio
35.09
Dividend Yield
N/A
Price Target
$15.17

Harmonic MarketRank™ Forecast

Analyst Rating
Buy
3.17 Rating Score
Upside/​Downside
36.1% Upside
$15.17 Price Target
Short Interest
Healthy
8.55% of Shares Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
0.74mentions of Harmonic in the last 14 days
Based on 20 Articles This Week
Insider Trading
Selling Shares
$698,017 Sold Last Quarter
Proj. Earnings Growth
77.78%
From $0.27 to $0.48 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.85 out of 5 stars

Computer And Technology Sector

79th out of 658 stocks

Radio & T.V. Communications Equipment Industry

6th out of 25 stocks

HLIT stock logo

About Harmonic (NASDAQ:HLIT) Stock

Harmonic Inc., together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. The company operates in two segments, Video and Cable Access. The Video segment sells video processing, 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 appliance solutions include network management and application software, and hardware products, such as encoders, video servers, high-density stream processing systems, and edge processors. This segment also provides software-as-a-service (SaaS) solutions, which enables the packaging and delivery of streaming services, including live streaming, video-on-demand, catch-up TV, start-over TV, network-DVR, and cloud-DVR services through HTTP streaming to various device along with dynamic and personal ad insertion. The Cable Access segment offers CableOS software-based cable access solutions; and CableOS central cloud services primarily to cable operators. Its products enable customers to create, prepare, store, playout, and deliver a range of broadcast and streaming video services to consumer devices, including televisions, personal computers, laptops, tablets, and smart phones. 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, end-to-end system testing, and training. It sells its products through its direct sales force, as well as through independent resellers and systems integrators. The company was incorporated in 1988 and is headquartered in San Jose, California.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Needham & Company LLC boosted their price objective on shares of Harmonic from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, August 2nd. Barclays increased their price target on shares of Harmonic from $13.00 to $14.00 and gave the company an "overweight" rating in a report on Tuesday, August 2nd. StockNews.com upgraded Harmonic from a "hold" rating to a "buy" rating in a research note on Wednesday, May 4th. Rosenblatt Securities lifted their target price on Harmonic from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Tuesday, August 2nd. Finally, Raymond James upped their price target on shares of Harmonic from $12.00 to $13.00 and gave the company an "outperform" rating in a research note on Tuesday, August 2nd. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Harmonic presently has an average rating of "Buy" and an average target price of $15.17.

Harmonic Price Performance

Shares of NASDAQ:HLIT traded up $0.04 during trading on Friday, hitting $11.18. 6,746 shares of the company were exchanged, compared to its average volume of 892,155. Harmonic has a 1-year low of $8.25 and a 1-year high of $12.22. The company has a market capitalization of $1.17 billion, a P/E ratio of 34.81 and a beta of 1.02. The company has a quick ratio of 1.15, a current ratio of 1.52 and a debt-to-equity ratio of 0.42. The business's 50 day moving average is $9.58 and its 200-day moving average is $9.32.

Harmonic (NASDAQ:HLIT - Get Rating) last released its quarterly earnings data on Monday, August 1st. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.07. Harmonic had a return on equity of 10.46% and a net margin of 5.91%. The company had revenue of $157.45 million during the quarter, compared to the consensus estimate of $150.08 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The firm's revenue was up 38.8% compared to the same quarter last year. Equities analysts forecast that Harmonic will post 0.27 earnings per share for the current year.

Insider Activity at Harmonic

In other news, SVP Ian Graham sold 15,573 shares of the business's stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $9.89, for a total value of $154,016.97. Following the transaction, the senior vice president now owns 100,358 shares in the company, valued at approximately $992,540.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Ian Graham sold 15,573 shares of Harmonic stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $9.89, for a total transaction of $154,016.97. Following the transaction, the senior vice president now owns 100,358 shares of the company's stock, valued at $992,540.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Patrick Harshman sold 50,000 shares of the firm's stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $10.88, for a total value of $544,000.00. Following the transaction, the chief executive officer now owns 571,768 shares in the company, valued at $6,220,835.84. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by company insiders.

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HLIT Stock News Headlines

Russia Ignites West's Battle for Energy Independence
Putin's invasion of Ukraine has revealed the West's dependence on Russia for their energy needs. Western countries are now scrambling for stable, renewable energy. World leaders must find new sources of minerals, such as copper, essential to their transition to energy independence.
Want To Catch The Next Hot Investing Trend (Look Inside?)
While millennials are trying to get rich in crypto Ponzi schemes- there's something happening that Wall Street is TOTALLY ignoring. And it's about to affect every American Citizen over 55...
Harmonic (NASDAQ:HLIT) Upgraded by TheStreet to B+
Harmonic (NASDAQ:HLIT) Stock Rating Reaffirmed by Raymond James
Where Harmonic Stands With Analysts - Benzinga
Harmonic: Q2 Earnings Insights - Benzinga
Harmonic Announces Second Quarter 2022 Results
Harmonic (HLIT) Shares Cross Above 200 DMA
See More Headlines
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HLIT Company Calendar

Last Earnings
8/01/2022
Today
8/12/2022
Next Earnings (Estimated)
11/07/2022
Fiscal Year End
12/31/2022

Industry, Sector and Symbol

Industry
Radio & t.v. communications equipment
Sub-Industry
Communications Equipment
Current Symbol
NASDAQ:HLIT
CUSIP
41316010
Employees
1,267
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$15.17
High Stock Price Forecast
$17.00
Low Stock Price Forecast
$13.00
Forecasted Upside/Downside
+35.1%
Consensus Rating
Buy
Rating Score (0-4)
3.17
Research Coverage
6 Analysts

Profitability

Net Income
$13.25 million
Pretax Margin
5.80%

Debt

Sales & Book Value

Annual Sales
$507.15 million
Cash Flow
$0.33 per share
Book Value
$2.84 per share

Miscellaneous

Free Float
100,832,000
Market Cap
$1.17 billion
Optionable
Optionable
Beta
1.02

Social Links















HLIT Stock - Frequently Asked Questions

Should I buy or sell Harmonic stock right now?

6 Wall Street research 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 research analysts is that investors should "buy" HLIT shares.
View HLIT analyst ratings
or view top-rated stocks.

What is Harmonic's stock price forecast for 2022?

6 brokerages have issued 1-year price targets for Harmonic's stock. Their HLIT share price forecasts range from $13.00 to $17.00. On average, they anticipate the company's stock price to reach $15.17 in the next year. This suggests a possible upside of 36.1% from the stock's current price.
View analysts price targets for HLIT
or view top-rated stocks among Wall Street analysts.

How have HLIT shares performed in 2022?

Harmonic's stock was trading at $11.76 on January 1st, 2022. Since then, HLIT shares have decreased by 5.3% and is now trading at $11.14.
View the best growth stocks for 2022 here
.

When is Harmonic's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Monday, November 7th 2022.
View our HLIT earnings forecast
.

How were Harmonic's earnings last quarter?

Harmonic Inc. (NASDAQ:HLIT) issued its earnings results on Monday, August, 1st. The communications equipment provider reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.07. The communications equipment provider earned $157.45 million during the quarter, compared to analyst estimates of $150.08 million. Harmonic had a trailing twelve-month return on equity of 10.46% and a net margin of 5.91%. The business's revenue was up 38.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 EPS.

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

Harmonic issued an update on its third quarter 2022 earnings guidance on Monday, August, 8th. The company provided earnings per share (EPS) guidance of $0.08-$0.12 for the period, compared to the consensus earnings per share estimate of $0.10. The company issued revenue guidance of $147.00 million-$157.00 million, compared to the consensus revenue estimate of $151.63 million.

What is Patrick J. Harshman's approval rating as Harmonic's CEO?

77 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.

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), 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).

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 many different institutional and retail investors. Top institutional shareholders include Trigran Investments Inc. (5.79%), Victory Capital Management Inc. (1.99%), Leeward Investments LLC MA (1.43%), Assenagon Asset Management S.A. (1.03%), Kennedy Capital Management Inc. (1.01%) and JPMorgan Chase & Co. (0.84%). Insiders that own company stock include David Krall, Ian Graham, Neven Haltmayer, Nimrod Ben-Natan, Patrick Harshman and Sanjay Kalra.
View institutional ownership trends
.

How do I buy shares of Harmonic?

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.
Compare Top Brokerages Here.

What is Harmonic's stock price today?

One share of HLIT stock can currently be purchased for approximately $11.14.

How much money does Harmonic make?

Harmonic (NASDAQ:HLIT) has a market capitalization of $1.16 billion and generates $507.15 million in revenue each year. The communications equipment provider earns $13.25 million in net income (profit) each year or $0.32 on an earnings per share basis.

How many employees does Harmonic have?

The company employs 1,267 workers across the globe.

How can I contact Harmonic?

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.

This page (NASDAQ:HLIT) was last updated on 8/12/2022 by MarketBeat.com Staff

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