Harmonic Inc.

NasdaqGS:HLIT Stock Report

Market Cap: US$1.4b

Harmonic Future Growth

Future criteria checks 4/6

Harmonic is forecast to grow earnings and revenue by 50.1% and 11.7% per annum respectively while EPS is expected to grow by 49.3% per annum.

Key information

50.1%

Earnings growth rate

49.28%

EPS growth rate

Communications earnings growth23.9%
Revenue growth rate11.7%
Future return on equityn/a
Analyst coverage

Low

Last updated12 May 2026

Recent future growth updates

Recent updates

Seeking Alpha • May 13

Harmonic: The Broadband Thesis Is Connecting (Rating Upgrade)

Summary Harmonic Inc. is upgraded to Buy, leveraging its dominant DOCSIS infrastructure share and cOS platform as North American cable operators ramp DOCSIS 4.0 deployments. HLIT’s broadband segment posted 43% YoY revenue growth in Q1 2026, with rest-of-market bookings now over 50%, reducing historical customer concentration risk. Gross margin guidance for FY2026 is 50–51.5%, pressured by memory costs and new product ramps; historical earnings volatility remains a key risk. With the video business sale and $200M buyback authorization, HLIT’s broadband cash engine and capital allocation discipline underpin a favorable long-term thesis. Read the full article on Seeking Alpha
Narrative Update • Apr 29

HLIT: Record Broadband Orders And 3.5x Book To Bill Will Support Earnings

Analysts have lifted their price target on Harmonic to $14 from $12.50, citing record Q4 broadband orders of $347m, with a 3.5x book to bill, as a key driver behind their updated view. Analyst Commentary Bullish Takeaways Bullish analysts point to the record Q4 Broadband orders of $347m as a strong indicator of customer demand, which they see as supportive of the higher $14 target price.
Narrative Update • Apr 15

HLIT: Record Broadband Orders Will Support Stronger Profitability And Cash Returns

Analysts have raised the fair value estimate for Harmonic to $17 from $15, citing recent Street research that includes a higher $14 price target. The updated target is tied to record $347 million in Broadband orders and a 3.5x book-to-bill ratio in the latest Q4 update.
Narrative Update • Mar 31

HLIT: Future Multiple Compression Will Follow Record Broadband Orders Momentum

Analysts have raised their price target on Harmonic to $14 from $12.50, citing record Q4 Broadband orders of $347m and a 3.5x book-to-bill ratio as key factors supporting their updated view. Analyst Commentary Street research points to a constructive view on Harmonic following the Q4 report, with the higher price target framed around record Broadband orders of US$347m and a 3.5x book to bill ratio.
Narrative Update • Mar 17

HLIT: Future Earnings Multiple Contraction Will Follow Peak Broadband Booking Momentum

Analysts have nudged their view on Harmonic higher, with a fresh $14 price target, up from $12.50. They cite record Q4 broadband orders of $347m and a book to bill of 3.5x as key supports for the updated outlook.
Narrative Update • Mar 03

HLIT: Record Broadband Orders Will Support Stronger Long Term Earnings Power

Analysts have raised their price target on Harmonic to $14 from $12.50, citing record Q4 broadband orders of $347 million and an improved long-term profit margin outlook. This comes even as they account for a much lower expected revenue growth rate and a higher future P/E assumption.
Narrative Update • Feb 17

HLIT: Broadband And Streaming Contracts Will Support Steady Long Term Prospects

Analysts have nudged their price target on Harmonic to $11.79, reflecting a slightly higher assumed discount rate and a modestly richer future P/E multiple in their models. What's in the News Czech Television, the public broadcaster of the Czech Republic, selected Harmonic's software-based XOS Advanced Media Processor to modernize its video streaming workflow, bringing transcoding in-house and aiming for higher control over streaming quality for millions of viewers (Key Developments).
Narrative Update • Feb 03

HLIT: Broadband And Streaming Wins Will Support Stronger Long Term Demand

Analysts have kept their price target for Harmonic broadly steady around $11.79, with only small tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E. These adjustments help to fine tune their view rather than shift it in a big way.
Analysis Article • Jan 30

Harmonic (NASDAQ:HLIT) Shareholders Will Want The ROCE Trajectory To Continue

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Amongst other...
Narrative Update • Jan 20

HLIT: Future Earnings Multiple Contraction Will Outweigh Broadband And Streaming Wins

Analysts have raised their price target on Harmonic, citing updated assumptions that include a revised fair value of 8.0, adjustments to revenue growth and profit margin expectations, and a lower future P/E multiple of 6.42x compared with the previous 15.28x. What's in the News Czech Television is working with Harmonic to modernize its video streaming workflow using the XOS Advanced Media Processor, bringing transcoding in-house and using AI-powered EyeQ encoding for multi device delivery across mobile, web apps and HbbTV (Client announcement).
Narrative Update • Jan 05

HLIT: Broadband And Streaming Wins Will Support Stronger Profitability Ahead

Analysts have lifted their price target on Harmonic from US$12.50 to US$15.00, citing updated assumptions that reflect higher modeled revenue growth, a stronger profit margin profile, a slightly lower discount rate, and a reduced future P/E multiple. What's in the News Czech Television selected Harmonic's XOS Advanced Media Processor to modernize its streaming workflow, bringing transcoding in-house, adding AI-powered EyeQ encoding and supporting mobile, web and HbbTV delivery for millions of viewers, with deployment supported by local partner Smart Informatics (Client announcement).
Narrative Update • Dec 13

HLIT: Easing Broadband Headwinds Will Support Stronger Future Demand Outlook

Analysts have raised their price target on Harmonic by $3 to $14, citing improving industry conditions and the easing of prior headwinds following recent broadband sector insights. Analyst Commentary Bullish Takeaways Bullish analysts argue that the improved broadband demand backdrop should support a healthier order pipeline, justifying a higher valuation multiple on forward earnings.
Narrative Update • Nov 28

HLIT: Recent Industry Tailwinds Will Drive Confidence in Broadband Demand Outlook

Analysts have raised their price target for Harmonic, increasing it by $0.43. This reflects improved sentiment as several industry headwinds have recently eased.
Narrative Update • Nov 13

HLIT: Capital Deployment and Industry Developments Will Shape Outlook Amid Fading Headwinds

Analysts have raised their price target for Harmonic from $11.00 to $14.00, citing renewed confidence following industry events and the easing of earlier headwinds. Analyst Commentary Industry research following key broadband events has informed recent analyst perspectives on Harmonic's performance and outlook.
Analysis Article • Nov 12

Harmonic's (NASDAQ:HLIT) Conservative Accounting Might Explain Soft Earnings

Harmonic Inc.'s ( NASDAQ:HLIT ) earnings announcement last week didn't impress shareholders. While the headline numbers...
Narrative Update • Oct 29

Lifting Industry Headwinds Will Support Broader Demand and Market Momentum Ahead

Narrative Update on Harmonic: Price Target Adjustment Analysts have increased Harmonic's price target by $3, to $14 from $11, citing improved industry conditions and the resolution of earlier headwinds as key factors in their revised outlook. Analyst Commentary Analysts offered a range of perspectives on Harmonic following the recent price target adjustment.
Narrative Update • Oct 03

Global Broadband Upgrades Will Spur Lasting Market Expansion

Analysts have raised their fair value estimate for Harmonic from $10.07 to $10.50. This change reflects improved sentiment after headwinds in the company's results were seen to have eased.
Analysis Article • Jul 11

Returns Are Gaining Momentum At Harmonic (NASDAQ:HLIT)

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Firstly, we'll want...
Analysis Article • Jun 25

Why Harmonic Inc. (NASDAQ:HLIT) Could Be Worth Watching

Harmonic Inc. ( NASDAQ:HLIT ), is not the largest company out there, but it saw a double-digit share price rise of over...
Analysis Article • Jun 10

Harmonic (NASDAQ:HLIT) Seems To Use Debt Rather Sparingly

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • May 08

Harmonic's (NASDAQ:HLIT) Soft Earnings Don't Show The Whole Picture

The market for Harmonic Inc.'s ( NASDAQ:HLIT ) shares didn't move much after it posted weak earnings recently. We think...
Seeking Alpha • Apr 17

Harmonic: Fundamentals And Upside Potential Are In Harmony

Summary Harmonic Inc. shows strong topline growth and market penetration, driven by innovation and strategic partnerships, making it a promising potential addition to my portfolio. The asset-light business model and high free cash flow enhance profitability and sustainability, with a low Net Debt/EBITDA ratio of 0.25x. Despite recent downtrends, HLIT stock is undervalued with significant upside potential, supported by P/E Ratio and DCF Model analyses indicating a TP of up to $17.30. Technical analysis suggests a potential rebound, with improved momentum and buying opportunities, recommending a buy rating with a take profit at $10.48 and stop loss at $7.57. Read the full article on Seeking Alpha
Analysis Article • Apr 16

Harmonic Inc. (NASDAQ:HLIT) Not Lagging Market On Growth Or Pricing

With a price-to-earnings (or "P/E") ratio of 27x Harmonic Inc. ( NASDAQ:HLIT ) may be sending very bearish signals at...
Analysis Article • Mar 17

Investors Will Want Harmonic's (NASDAQ:HLIT) Growth In ROCE To Persist

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. One common...
Seeking Alpha • Feb 25

Harmonic: Get Ready To Buy On Dips

Summary Harmonic's stock is rated a hold with a $12 price target due to near-term headwinds from the Unified DOCSIS 4.0 transition. Despite impressive 2024 earnings including record Q4 revenue and EPS growth, 2025 is expected to be a weaker year. The video segment is now profitable, with a promising partnership with Akamai poised to drive future growth. Investors should consider buying if the stock dips to $8 or below, as long-term prospects remain strong. Read the full article on Seeking Alpha
Analysis Article • Jan 27

If EPS Growth Is Important To You, Harmonic (NASDAQ:HLIT) Presents An Opportunity

Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...
New Narrative • Jan 23

HLIT Market Outlook

Cisco Systems: A global leader in networking and telecommunications equipment, Cisco offers video delivery and cable edge solutions that compete directly with Harmonic's offerings.
Analysis Article • Jan 13

These 4 Measures Indicate That Harmonic (NASDAQ:HLIT) Is Using Debt Reasonably Well

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Analysis Article • Dec 13

Harmonic (NASDAQ:HLIT) Might Have The Makings Of A Multi-Bagger

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Ideally, a...
Analysis Article • Nov 26

Shareholders Should Be Pleased With Harmonic Inc.'s (NASDAQ:HLIT) Price

When close to half the companies in the Communications industry in the United States have price-to-sales ratios (or...
Seeking Alpha • Oct 29

Q3 Gains For Harmonic, But 2025 Growth Uncertain

Summary Harmonic Inc. posted strong Q3 results with a Non-GAAP EPS of $0.26 and revenue of $195.76 million, driven by Broadband's DOCSIS 4.0 rollout. Despite growth, concerns include project delays, heavy reliance on major clients, and potential profit margin flattening, leading to a cautious outlook. Video segment profitability improved, but revenue dipped slightly; financials show strong cash position but expect margin fluctuations and inventory increases. Given revenue slowdowns, client setup delays, and economic pressures, I rate Harmonic Inc. as a “Hold” for now, awaiting a better entry point. Read the full article on Seeking Alpha
Analysis Article • Oct 29

Is There Now An Opportunity In Harmonic Inc. (NASDAQ:HLIT)?

Harmonic Inc. ( NASDAQ:HLIT ), might not be a large cap stock, but it led the NASDAQGS gainers with a relatively large...
Analysis Article • Oct 14

Is Now The Time To Put Harmonic (NASDAQ:HLIT) On Your Watchlist?

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
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New Narrative • Sep 24

Innovative Broadband Solutions Propel Market Share And Revenue In A Competitive Landscape

Harmonic's investment in network infrastructure and innovative products like DOCSIS 4.0 nodes and CableOS solutions aligns with industry demand, potentially boosting market share and revenue.
Analysis Article • Aug 18

Harmonic Inc.'s (NASDAQ:HLIT) Share Price Could Signal Some Risk

When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 17x, you may...
Seeking Alpha • Aug 02

Harmonic Surges Briefly, But Pay More Attention To Rising Earnings

Summary Harmonic beat revenue and EPS estimates in Q2 2024, prompting investors to bid the share price up sharply. However, investors should pay more attention to the anticipated, double-digit earnings this year and next year. HLIT stock gets Strong Buy rating from the Quant system, Wall Street analysts, and this Seeking Alpha analyst. Read the full article on Seeking Alpha

Earnings and Revenue Growth Forecasts

NasdaqGS:HLIT - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202853758N/AN/A2
12/31/2027549631121244
12/31/20264874558644
4/3/202639784556N/A
12/31/2025361197108N/A
9/26/202539758133144N/A
6/27/202545077118129N/A
3/28/202545161110119N/A
12/31/2024488515362N/A
9/27/2024624851020N/A
6/28/2024555571322N/A
3/29/2024572712028N/A
12/31/202338888-17N/A
9/29/202360561320N/A
6/30/202363422-71N/A
3/31/2023635353039N/A
12/31/202262528-45N/A
9/30/202261642-16-7N/A
7/1/202258735617N/A
4/1/202254318012N/A
12/31/2021507132841N/A
10/1/202148375975N/A
7/2/202145103857N/A
4/2/2021412-132752N/A
12/31/2020379-29739N/A
9/25/2020369-37-428N/A
6/26/2020390-20937N/A
3/27/2020401-17N/A16N/A
12/31/2019403-6N/A31N/A
9/27/2019394-8N/A8N/A
6/28/2019379-28N/A4N/A
3/29/2019394-19N/A23N/A
12/31/2018404-21N/A12N/A
9/28/2018391-36N/A15N/A
6/29/2018382-44N/A4N/A
3/30/2018365-73N/A0N/A
12/31/2017358-83N/A3N/A
9/29/2017370-82N/A7N/A
6/30/2017380-82N/A11N/A
3/31/2017407-71N/A3N/A
12/31/2016406-72N/A0N/A
9/30/2016379-69N/A-15N/A
7/1/2016361-58N/A-16N/A
4/1/2016355-38N/A-1N/A
12/31/2015377-16N/A6N/A
10/2/2015398-13N/A28N/A
7/3/2015423-7N/A34N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: HLIT's forecast earnings growth (50.1% per year) is above the savings rate (3.5%).

Earnings vs Market: HLIT's earnings (50.1% per year) are forecast to grow faster than the US market (16.7% per year).

High Growth Earnings: HLIT's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: HLIT's revenue (11.7% per year) is forecast to grow faster than the US market (11.7% per year).

High Growth Revenue: HLIT's revenue (11.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if HLIT's Return on Equity is forecast to be high in 3 years time

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/15 14:46
End of Day Share Price 2026/05/15 00:00
Earnings2026/04/03
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Harmonic Inc. is covered by 18 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Amir RozwadowskiBarclays
Timothy LongBarclays
Tal LianiBofA Global Research