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HLIT $12.32

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Harmonic Inc.
Traded as NASDAQ: HLIT
S&P 600 Component
Industry ICT - Broadcast and Media segment
Headquarters San Jose, California, USA
Key people
Patrick Harshman, President and Chief Executive Officer
Products Video servers and storage, broadcast and multiscreen encoders and transcoders, contribution encoders, stream processors, integrated receiver-decoders, media asset management
Revenue $530.46 million (2012)
Number of employees
1148 (2012)
Website www.harmonicinc.com

Harmonic Inc. is an American technology company that develops and markets video routing, server, and storage products for companies that produce, process, and distribute video content for television and the Internet.

Harmonic was initially incorporated in California in June 1988 as Harmonic Lightwaves, and reincorporated into Delaware in May 1995. Anthony J. Ley became chief executive in November 1988. Co-founder Moshe Nazarathy led a research and development center named "Harmonic Data" in Israel starting in 1993, funded in part by the Israel-U.S. Binational Industrial Research and Development Foundation.

Harmonic acquired the DiviCom business of C-Cube Microsystems in 2000 for about $1.7 billion in stock. It acquired the video networking software business of Entone Technologies in 2006 for about $45 million, Rhozet Corporation in 2007, and Scopus Video Networks, Ltd. in 2009.

Omneon Video Networks was founded in May 1998, with investors including Advanced Technology Ventures, Norwest Venture Partners, Accel Partners and Invesco. Omneon co-founder Donald M. Craig designed products that won Technology & Engineering Emmy Awards in 1988 and 1996. On December 29, 2006 Omneon filed for an initial public offering, and tried again several times in 2007 and 2008 after dropping the "Video Networks" from its name, but remained private. On May 6, 2010 Omneon announced it agreed to be acquired by Harmonic for an estimated $274 million.

Harmonic sold its line of fiber-optic access products to Aurora Networks in February 2013 for $46 million in cash.

In March 2016 Harmonic acquired Thomson Video Networks.

Harmonic’s products fall into four principal categories; video production products, video server products for playout, video processing products, and cable edge products. Video production products are used to support video editing, post-production and finishing. Server systems are used to assemble and play out one or more channel systems. Video processing products are used by media companies, broadcasters, telcos, satellite operators, cable operators, and OTT operators to acquire and use different types and sources of video signals. Cable edge products are used by cable operators to deliver customized broadcast or on-demand and data services to their subscribers.

The company supplies cable television headend or hub devices that receive digital video or data from the operator network, re-packetizes the video or data into an MPEG transport stream, then digitally modulates the MPEG transport stream onto a downstream RF channel using quadrature amplitude modulation (QAM).

Harmonic sells its products to cable, satellite and telco, and broadcast and media companies. In 2012, United States customers included Cablevision Systems, CenturyLink, Charter Communications, Comcast Corporation, Cox Communications, DirecTV, EchoStar Holding, TRC Integration, Time Warner Cable, and Turner Broadcasting. Customers outside the United States include Alcatel-Lucent, Bell TV, Capella Telecommunications, Huawei Technologies, Klonex – VCS, Netorium, Rogers Communications, SKY Perfect JSAT Corporation, Virgin Media, and Ziggo.

Harmonic’s video infrastructure competitors include vertically integrated system suppliers, such as Motorola, Cisco Systems, Ericsson, and, in certain product lines, a number of smaller companies, including Envivio, RGB Networks (now Imagine Communications), Elemental Technologies and Appear TV and ATEME. In production and playout products, competitors include Harris (now Imagine Communications), Grass Valley, Miranda and Avid Technology. In edge devices, competitors include Motorola Mobility (acquired by Google in 2012), Cisco Systems, and Arris.Harmonic recently completed the acquisition of Thomson Networks.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-10-31 Future report Set alerts
Q2 2022 2022-08-01 0.16 0.16
Q1 2022 2022-05-02 0.08 0.08
Q4 2021 2022-01-31 0.16 0.16
Q3 2021 2021-11-01 0.09 0.09
Q2 2021 2021-08-02 0.05 0.05
Q1 2021 2021-05-03 0.04 0.04
Q4 2020 2021-02-01 0.20 0.20
Q3 2020 2020-10-26 0.03 0.03
Q2 2020 2020-08-03 -0.06 -0.06

Ratings

2016-06-28 Reiterated Rating Drexel Hamilton Hold
2016-05-10 Reiterated Rating Drexel Hamilton Hold
2016-01-13 Initiated Coverage Northland Securities Outperform $5.00
2015-09-10 Upgrade Sidoti Neutral to Buy
2015-07-28 Lower Price Target Jefferies Group Hold $7.50 to $6.50
2015-07-23 Initiated Coverage Drexel Hamilton Hold
2014-12-12 Downgrade Sidoti Neutral
2014-12-11 Downgrade Sidoti Buy to Neutral
2014-10-27 Initiated Coverage National Alliance Securities Hold
2014-10-24 Initiated Coverage National Alliance Securities Hold $7.00
2014-07-29 Lower Price Target Jefferies Group $8.00 to $7.00
2014-05-16 Boost Price Target Jefferies Group Hold $7.00 to $8.00
2014-01-21 Initiated Coverage Bank of America Buy
2014-01-17 Downgrade Raymond James Market Perform to Underperform
2013-04-08 Reiterated UBS Neutral $5 to $6
2013-02-14 Upgrade Maxim Group Hold to Buy
2010-05-21 Upgrade Avondale Mkt Perform to Mkt Outperform $7 to $8
2009-07-07 Initiated Morgan Keegan Outperform
2009-06-18 Reiterated Barclays Capital Equal Weight $5 to $7
2009-04-01 Initiated Thomas Weisel Market Weight $8
2009-01-30 Reiterated Needham Buy $12 to $10
2009-01-14 Reiterated RBC Capital Mkts Sector Perform $9 to $8
2008-11-10 Downgrade CL King Accumulate to Neutral
2008-07-29 Reiterated Friedman Billings Outperform $14.50 to $12
2016-06-28 Reiterated Rating Drexel Hamilton Hold
2016-05-10 Reiterated Rating Drexel Hamilton Hold
2016-01-13 Initiated Coverage Northland Securities Outperform $5.00
2015-09-10 Upgrade Sidoti Neutral to Buy
2015-07-28 Lower Price Target Jefferies Group Hold $7.50 to $6.50

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
KVAMME FLOYD E 0.81%  (738922) HLIT / POWI /
HARSHMAN PATRICK President and CEO 0.80%  (735907) HLIT /
LEY ANTHONY J 0.42%  (388838) HLIT /
Warren Timothy SVP, Video Products 0.32%  (293236) HLIT /
REDDERSEN WILLIAM F 0.21%  (194574) HLIT / OTEL /
GALLAGHER PATRICK 0.18%  (165521) CIEN / HLIT /
Ben-Natan Nimrod SVP and GM, Edge Business 0.14%  (123918) HLIT /
Reaugh Mitzi 0.13%  (122444) HLIT /
SWENSON SUSAN 0.13%  (122444) HLIT / NVTL / WFC /
SOLOMON LEWIS Chairman 0.11%  (102387) ANAD / HLIT /
Haltmayer Neven Sr. Vice President, R&D 0.10%  (91130) HLIT /
Theodosopoulos Nikos 0.09%  (85521) HLIT /
VAN VALKENBURG DAVID R 0.08%  (77794) HLIT /
Spriester Bart SVP, Video Products 0.07%  (63151) HLIT /
Stromeyer George SVP of Worldwide Sales 0.07%  (62528) HLIT /
Kalra Sanjay Chief Financial Officer 0.04%  (41172) HLIT / SIMG /
Carrington Mark Sr. VP of Worldwide Sales 0.03%  (30169) HLIT /
AVER CAROLYN V Chief Financial Officer 0.02%  (19971) HLIT /
Bonasera Charles Sr. Vice President, Operations 0.01%  (8583) HLIT /