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Harmonic Inc

Harmonic Inc

HLIT
$12.03USD↓-1.39%-0.17 today

MARKET CAP

1.3B

P/E (TTM)

21.5x

FWD P/E

18.4x

DAY RANGE

$12 – $12

52W RANGE

$8
$18

AI Summary

Stalk
TrimMedium

HLIT is in a confirmed Stage 4 decline with a clear lower-high/lower-low structure below key EMAs, enforcing a bearish medium-term bias. However, price is deeply oversold and extended, making immediate sell-side timing unfavorable. The preferred engagement is to trim into rallies toward the falling EMA band and former support-now-resistance zone. While the 3-year uptrend remains intact above the 200 DMA, near-term deterioration drives the tradable opportunity.

  • ↑Q1 2026 broadband revenue +43% YoY to $121.7M, above guidance
  • ↑Full-year broadband guide lifted to $475–495M on $582.1M backlog (+87% YoY)
  • ↓Two customers drove 58% of Q1 revenue, heightening concentration risk
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Harmonic Inc. (NASDAQ: HLIT) operates as a technology leader in the broadband and video infrastructure solutions sector, focusing on delivering innovative technologies that enable operators to enhance content delivery and broadband capabilities. With a significant pivot towards broadband technologies and a strategic focus on transitioning to Unified DOCSIS 4.0 and fiber integrations, the company is positioned to capitalize on the growing demand for high-quality broadband services.

Bull says

  • ↑Q1 2026 broadband revenue +43% YoY to $121.7M, above guidance
  • ↑Full-year broadband guide lifted to $475–495M on $582.1M backlog (+87% YoY)
  • ↑Rest-of-market sales jumped 78%, now 42% of total revenue
  • ↑Generated $30.3M free cash flow and repurchased $43M in shares
  • ↑Plan to sell video unit to focus on higher-margin broadband
  • ↑Strong growth momentum and high liquidity support investor interest

Bear says

  • ↓Two customers drove 58% of Q1 revenue, heightening concentration risk
  • ↓$6M net impact from rising memory costs threatens gross margins
  • ↓Macro and tariff uncertainties pose supply-chain and pricing risks
  • ↓Delays in Unified DOCSIS 4.0 rollout could disrupt revenue timing
  • ↓Weak profitability and low earnings yield signal capital inefficiency
  • ↓Elevated short interest reflects significant investor skepticism

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-13-2026bullish

Transcript signals

Bull points

  • I'm pleased to report that we had a strong start to the year with Q1 revenue and earnings that exceeded the high end of our guidance range, including 43% year-over-year growth in broadband revenue, and 78% growth in rest of market revenue.
  • Given our continued momentum, we're raising our full-year broadband revenue guidance to $475 to $495 million, up from our prior range of $440 to $480 million.
  • During the quarter, we generated free cash flow of $30.3 million while we repurchased $43 million in stock.
Read full transcript analysis ›