Harmonic Inc., together with its subsidiaries, provide video delivery software, products, system solutions, and services worldwide. 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 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 high-quality streaming services, including live streaming, video-on-demand, catch-up TV, start-over TV, network-DVR, and cloud-DVR services through HTTP streaming to any device along with dynamic and personal ad insertion. The Cable Access segment offers 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, 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. Harmonic Inc. was incorporated in 1988 and is headquartered in San Jose, California.
IPO Year: 1995
Exchange: NASDAQ
Website: harmonicinc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/29/2024 | Buy → Hold | Jefferies | |
| 10/29/2024 | $17.00 → $14.00 | Strong Buy → Outperform | Raymond James |
| 8/10/2023 | $15.00 → $16.00 | Outperform → Strong Buy | Raymond James |
| 1/9/2023 | $14.25 → $19.00 | Hold → Buy | Jefferies |
| 5/24/2022 | $15.00 | Buy | Rosenblatt |
| 4/21/2022 | $11.00 | Equal Weight → Overweight | Barclays |
| 11/2/2021 | $13.00 → $14.00 | Buy | Needham |
| 11/2/2021 | $11.00 → $12.00 | Outperform | Raymond James |
| 8/3/2021 | $9.00 → $11.00 | Outperform | Raymond James |
| 8/3/2021 | $8.00 → $9.00 | Equal-Weight | Barclays |
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Record revenue with Broadband revenue up 92% year over year Video returned to profitability with greater than 10% Adjusted EBITDA margin SAN JOSE, Calif., Oct. 28, 2024 /PRNewswire/ -- Harmonic Inc. (NASDAQ:HLIT) today announced its unaudited results for the third quarter of 2024. "Our third quarter results demonstrated strong execution as we achieved record total company revenue and Adjusted EBITDA, with both broadband and video revenue exceeding expectations," said Nimrod Ben-Natan, president and chief executive officer of Harmonic. "This strong quarterly performance coupled
SAN JOSE, Calif., Oct. 14, 2024 /PRNewswire/ -- Harmonic (NASDAQ:HLIT) today announced it will release its third quarter 2024 financial results after the market close on Monday, October 28, 2024. Harmonic will host a live webcast to discuss the Company's results at 2:00 p.m. PT on the same day. To participate via telephone, please register in advance using this link,https://register.vevent.com/register/BI24dc955b30d3439abf656ef581cfa35c. Upon registration, telephone participants will receive a confirmation email detailing how to join the audio version of the webcast, including
Revenue of $138.7 million up 14% quarter over quarter at high end of guidance Reaffirming Broadband and Video Full Year Revenue Guidance SAN JOSE, Calif., July 29, 2024 /PRNewswire/ -- Harmonic Inc. (NASDAQ:HLIT) today announced its unaudited results for the second quarter of 2024. "Our second quarter revenue was at the high end of our guidance range while profitability in both businesses exceeded our expectations," said Nimrod Ben-Natan, president and chief executive officer of Harmonic. "These results demonstrate strong execution in both our Broadband and Video businesses as
SAN JOSE, Calif., July 15, 2024 /PRNewswire/ -- Harmonic (NASDAQ:HLIT) today announced it will release its second quarter 2024 financial results after the market close on Monday, July 29, 2024. Harmonic will host a live webcast to discuss the Company's results at 2:00 p.m. PT on the same day. To participate via telephone, please register in advance using this link, https://register.vevent.com/register/BI0a4873336ead4b6c81df331d35635fb3. Upon registration, telephone participants will receive a confirmation email detailing how to join the audio version of the webcast, including
Results in Line with GuidanceReaffirming Broadband Full Year Revenue GuidanceIncreasing Full Year Video EBITDA Guidance SAN JOSE, Calif., April 29, 2024 /PRNewswire/ -- Harmonic Inc. (NASDAQ:HLIT) today announced its unaudited results for the first quarter of 2024. "Our first quarter results were within our guidance range and largely driven by our Broadband business," said Patrick Harshman, president and chief executive officer of Harmonic. "Based on these results, our record backlog and deferred revenue, and our restructuring actions in Video to address market conditions and
SAN JOSE, Calif., April 15, 2024 /PRNewswire/ -- Harmonic (NASDAQ:HLIT) today announced it will release its first quarter 2024 financial results after the market close on Monday, April 29, 2024. Harmonic will host a live webcast to discuss the Company's results at 2:00 p.m. PT on the same day.To participate via telephone, please register in advance using this link,https://register.vevent.com/register/BI25a8c58a23b84db08431619b5ef84f3d. Upon registration, telephone participants will receive a confirmation email detailing how to join the audio version of the webcast, including t
SAN JOSE, Calif., April 9, 2024 /PRNewswire/ -- Harmonic (NASDAQ:HLIT) today announced it will host a conference call on Thursday, April 11, 2024 at 1:30 p.m. PT to discuss recent company announcements. To participate via telephone, please register in advance using this link,https://register.vevent.com/register/BI7c5189f64d0643b186ec2565e8edd2b5. Upon registration, telephone participants will receive a confirmation email detailing how to join the audio version of the webcast, including the dial-in number and a unique registrant ID. The live webcast will be available via Harmon
Record quarterly total revenue of $167.1 million, up 31% quarter over quarter Broadband revenue up 20% and Video SaaS revenue up 26% year over year SAN JOSE, Calif., Jan. 29, 2024 /PRNewswire/ -- Harmonic Inc. (NASDAQ:HLIT) today announced its unaudited results for the fourth quarter and fiscal year ended December 31, 2023. "Harmonic finished 2023 with another quarter of solid performance, including record total company and Broadband revenue, driven by strong demand for our market-leading technology solutions," said Patrick Harshman, president and chief executive officer of Ha
SAN JOSE, Calif., Jan. 16, 2024 /PRNewswire/ -- Harmonic (NASDAQ:HLIT) today announced it will release its fourth quarter and full year 2023 financial results after the market close on Monday, January 29, 2024. Harmonic will host a live webcast to discuss the Company's results at 2:00 p.m. PT on the same day.To participate via telephone, please register in advance using this link, https://register.vevent.com/register/BI52aab14160c44ed3aaa1715d3e4dea8e. Upon registration, telephone participants will receive a confirmation email detailing how to join the audio version of the web
Broadband revenue up 20% and Video SaaS revenue up 58% year over year SAN JOSE, Calif., July 31, 2023 /PRNewswire/ -- Harmonic Inc. (NASDAQ:HLIT) today announced its unaudited results for the second quarter of 2023. "While we achieved double digit year over year Broadband and Video SaaS revenue growth and strong gross margins for the second quarter, we experienced hardware sales delays across our business segments resulting in total revenue that was below our expectations," said Patrick Harshman, president and chief executive officer of Harmonic. "Despite these short-term head
SAN JOSE, Calif., July 23, 2024 /PRNewswire/ -- Harmonic (NASDAQ:HLIT) today announced it has expanded the company's board of directors with the appointment of Neel Dev. "I'm delighted to welcome Neel to our board," said Nimrod Ben-Natan, president and CEO of Harmonic. "His extensive finance and operational leadership experience in the telecom and broadband industries make him an excellent addition, as we continue to drive profitable growth in our broadband and video businesses globally." Mr. Dev currently serves as the chief financial officer and chief revenue officer of Cong
SAN JOSE, Calif., May 22, 2023 /PRNewswire/ -- Harmonic Inc. (NASDAQ:HLIT) today announced that it has appointed Walter Jankovic as chief financial officer, effective immediately. Mr. Jankovic brings over 30 years of executive experience from a range of leading technology companies. He was most recently senior vice president and general manager, datacom business unit, at Lumentum, a provider of optical and photonic products. Prior to this, he served as president, optical connectivity, at Oclaro, Inc. (acquired by Lumentum). Previously, Mr. Jankovic served in a number of seni
Company Appoints Susan Swenson Executive Chairperson to Provide Oversight of the Senior Executive Leadership Team Internal Controls Strengthened as Board of Directors Implements Special Committee Actions Faraday Future Intelligent Electric Inc. ("Faraday Future" or the "Company") (NASDAQ:FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced that the special committee of independent Company directors (the "Special Committee") has completed its previously announced investigation into allegations of inaccurate disclosures, including claims contained in a short seller report issued during October 2021. Based on its work, the Special Commit
SAN JOSE, Calif., Aug. 5, 2021 /PRNewswire/ -- Harmonic (NASDAQ:HLIT) today announced it has expanded the company's board of directors with the appointment of Dan Whalen. "I'm pleased to welcome Dan to our board," said Patrick Harshman, president and CEO of Harmonic. "With his senior management experience and extensive knowledge of the broadband and video industries, we look forward to Dan's contributions as we continue to grow our cable access and video businesses." Mr. Whalen is currently the President and CEO of ATX Networks, a global provider of network infrastructure sy
Jefferies downgraded Harmonic from Buy to Hold
Raymond James downgraded Harmonic from Strong Buy to Outperform and set a new price target of $14.00 from $17.00 previously
Raymond James upgraded Harmonic from Outperform to Strong Buy and set a new price target of $16.00 from $15.00 previously
Jefferies upgraded Harmonic from Hold to Buy and set a new price target of $19.00 from $14.25 previously
Rosenblatt initiated coverage of Harmonic with a rating of Buy and set a new price target of $15.00
Barclays upgraded Harmonic from Equal Weight to Overweight and set a new price target of $11.00
Needham reiterated coverage of Harmonic with a rating of Buy and set a new price target of $14.00 from $13.00 previously
Raymond James reiterated coverage of Harmonic with a rating of Outperform and set a new price target of $12.00 from $11.00 previously
Raymond James reiterated coverage of Harmonic with a rating of Outperform and set a new price target of $11.00 from $9.00 previously
Barclays reiterated coverage of Harmonic with a rating of Equal-Weight and set a new price target of $9.00 from $8.00 previously
SAN JOSE, Calif., Dec. 18, 2024 /PRNewswire/ -- Harmonic (NASDAQ:HLIT) today announced that Two Wheels Motor Racing (TWMR) in Malaysia is simplifying the distribution of live sports events with Harmonic. Leveraging Harmonic's VOS®360 Media SaaS, ViBE CP9000 contribution encoder and ProView 8100 IRD, TWMR can deliver exceptional-quality video streams to affiliates over the internet. "Our mission as a motorsport organization is simple: to bring the thrill of motorcycle racing to fans across Asia. Delivering live sports events efficiently is critical to this mission," said Mohd N
TAIPEI and SAN JOSE, Calif., Dec. 9, 2024 /PRNewswire/ -- Sercomm (TWSE: 5388) and Harmonic (NASDAQ:HLIT) today announced an exclusive technology collaboration to advance DOCSIS 4.0 unified technologies. As part of this partnership, Sercomm will introduce its new DOCSIS 4.0 Unified Amplifiers, benefiting from Harmonic's expertise in FDX and unified nodes. "We are proud to collaborate with Harmonic to bring next-generation broadband solutions to the market," said James Wang, Chairman and CEO of Sercomm. "By leveraging Harmonic's leadership in DOCSIS 4.0 FDX and unified solution
SAN JOSE, Calif., Nov. 26, 2024 /PRNewswire/ -- Harmonic (NASDAQ:HLIT) today announced that Nimrod Ben-Natan, President and CEO of Harmonic, and Walter Jankovic, Harmonic's Chief Financial Officer, will participate in a fireside chat at the Raymond James 2024 TMT and Consumer Conference in New York City, on Monday, December 9, 2024 at 8:20 a.m. PT/11:20 a.m. ET and host investor meetings throughout the day. Mr. Jankovic will also host investor meetings at the Barclays 2024 Global Technology Conference in San Francisco, on Thursday, December 12, 2024. A live audio webcast of th
Romanesque Capital Management, LLC (collectively with its affiliates, "Romanesque Capital"), which is a long-term shareholder of Harmonic, Inc. (NASDAQ:HLIT), today issued the following statement regarding its support of a strategic review aimed at a sale to maximize shareholder value: "We have long held high conviction in Harmonic's market leading products, valuable partnerships and disruptive innovation, having been invested since 2016. Despite these tailwinds, the company has been unable to realize value in its stock price. This is why we were extremely encouraged to review Ancora Holdings' presentation outlining its analysis of the value opportunity at Harmonic and are in full support
Analysis Suggests Harmonic, Which Trades at ~$12, Can Drive Share Price Appreciation by Meeting 2026 Broadband Targets or Through a Sale Process That Could Deliver ~$20 Per Share Contends There is a Clear Opportunity for Harmonic to Attract Interest from Well-Capitalized Acquirers, Such as Ciena Corporation Fears Management's Poor Investor Communication Has Caused Harmonic to Trade at a Depressed Multiple Despite Strong Financials, Best-in-Class Products and Market-Leading Innovation Urges Harmonic's Refreshed Board to Evaluate Company's Standalone Prospects Versus Viable Sale Options Ancora Holdings Group, LLC (collectively with its affiliates, "Ancora"), a significant shareholder
Record revenue with Broadband revenue up 92% year over year Video returned to profitability with greater than 10% Adjusted EBITDA margin SAN JOSE, Calif., Oct. 28, 2024 /PRNewswire/ -- Harmonic Inc. (NASDAQ:HLIT) today announced its unaudited results for the third quarter of 2024. "Our third quarter results demonstrated strong execution as we achieved record total company revenue and Adjusted EBITDA, with both broadband and video revenue exceeding expectations," said Nimrod Ben-Natan, president and chief executive officer of Harmonic. "This strong quarterly performance coupled
SAN JOSE, Calif., Oct. 14, 2024 /PRNewswire/ -- Harmonic (NASDAQ:HLIT) today announced it will release its third quarter 2024 financial results after the market close on Monday, October 28, 2024. Harmonic will host a live webcast to discuss the Company's results at 2:00 p.m. PT on the same day. To participate via telephone, please register in advance using this link,https://register.vevent.com/register/BI24dc955b30d3439abf656ef581cfa35c. Upon registration, telephone participants will receive a confirmation email detailing how to join the audio version of the webcast, including
The Company's New FTTH Deployment Options for BEAD Shorten Project Timelines Leveraging Existing Network Infrastructure SAN JOSE, Calif., Sept. 24, 2024 /PRNewswire/ -- Harmonic (NASDAQ:HLIT) today announced its Broadband Equity, Access and Deployment (BEAD) solutions enable broadband operators to deploy high-speed fiber-to-the-home (FTTH) services faster, utilizing the domestically manufactured Fin remote OLT (R-OLT) in conjunction with an operator's existing network edge devices. The American-built Fin 10G R-OLT SFP+ can serve customers at ranges up to 20km, extending the reach of existing network edge devices to address isolated unserved and underserved communities.
Expanded Testing and Strategic Partnerships Simplify Interoperability Between Third-Party ONU and OLT Devices SAN JOSE, Calif., Sept. 24, 2024 /PRNewswire/ -- Harmonic (NASDAQ:HLIT) today announced expanded efforts to improve interoperability between optical network units (ONU) and optical line terminals (OLT) for fiber broadband deployment. The addition of Harmonic's new interoperability facilities for third-party ONU vendors in North America and Europe underscores the company's commitment to an Open ONU approach. Actively partnering with leading ONU manufacturers, Harmonic is advancing interoperability through its cOS™ virtualized core software, which enables operators to support ONU devi
Harmonic's cOS™ Virtualized Broadband Platform is the Industry's First Solution Unifying FDX and FDD DOCSIS 4.0 SAN JOSE, Calif., Sept. 23, 2024 /PRNewswire/ -- Harmonic (NASDAQ:HLIT) today announced significant advances on a unified DOCSIS 4.0 solution that delivers multigigabit symmetric speeds over existing infrastructure using the new unified D4.0 chipset. Together with Comcast, Harmonic will showcase the cOS™ virtualized broadband platform, the industry's first solution to unify both variants of DOCSIS 4.0 — Full Duplex (FDX) and Frequency Division Duplexing (FDD) — at SCTE TechExpo24. This breakthrough solution enables operators to deliver unprecedented multiple gigabit symmetrical spe
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