Harmonic (HLIT)
Virtualized broadband software and access hardware for cable and fiber operators.
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Sells cOS broadband access software, cloud monitoring, edge devices, OLT hardware, and services to cable and telecom operators. Now operates solely in Broadband, with the Americas and a small group of large customers shaping results.
Supplies broadband operators with cOS, a virtualized, cloud-native access platform running on commercial servers. The software supports virtualized CMTS, distributed access, DOCSIS, and PON/FTTx networks; cOS Central adds cloud monitoring and support, while distributed edge devices and OLT modules and shelves carry cable and fiber access toward subscribers.
Pairs software with proprietary and third-party access hardware, allowing operators to use centralized, distributed, or hybrid architectures and migrate between coax and fiber. Sales are global but remain concentrated in the Americas and among a small group of large cable and telecom customers. Revenue depends on operator capital spending and deployment timing, while hardware delivery relies on contract manufacturers and limited-source components. After the sale of the Video business to MediaKind, Broadband is the sole reportable segment.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 13, 2026 | Northland Securities | Target | Target: $15 | Target: $17 |
| Aug 13, 2026 | Raymond James | Reiterate | Rating: —Target: — | Target: $19 |
| Aug 13, 2026 | Barclays | Reiterate | Rating: —Target: $15 | Target: $16 |
| May 12, 2026 | Northland Securities | Target | Target: $14 | Target: $15 |
| May 12, 2026 | Needham | Reiterate | Rating: —Target: $20 | Target: $18 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jul 3, 2026Cash & short-term investments $231.9M · Total debt $130.1M · Total assets $632.6M · Shareholders' equity $360.3M
- Revenue
- $133.5M
- Operating income
- $23.6M
- Net income
- −$2.3M
No dividends on record.
| Institutions | 86.59% | 94.44M shares | |
|---|---|---|---|
| 266 holders · as of Jun 30, 2026 | |||
| Insiders | 10.89% | 11.87M shares | |
| 11 holders · as of Sep 15, 2026 | |||
| Strategic holders | 2.99% | 3.26M shares | |
| 2 holders · as of Feb 13, 2020 | |||
| Adds to | 100.47% | ||
109.07M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 100.47%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 16.51% | 18.00M | as of Jun 30, 2026 |
T. Rowe Price Investment Management, Inc.Institution | 15.91% | 17.36M | filed Aug 10, 2022 |
Amendment No. 3 to Schedule 13DInsider | 9.17% | 10.00M | filed Mar 29, 2022 |
Vanguard Portfolio Management LLCInstitution | 4.94% | 5.39M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.72% | 5.15M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 14, 2026 | Stephanie Copeland | director | −4,300 | $13.31 |
| May 13, 2026 | Neven Haltmayer | officer: SVP & GM, Video Business | −31,766 | $13.24 |
| Dec 15, 2025 | Neven Haltmayer | officer: SVP & GM, Video Business | −23,835 | $10.41 |
| Dec 12, 2025 | Neven Haltmayer | officer: SVP & GM, Video Business | −6,165 | $10.61 |
| Dec 11, 2025 | David Krall | director | +47,528 | $10.50 |
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- Cisco Systems
Cable-access incumbent with CCAP, DOCSIS and Remote PHY
- Ciena
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Harmonic | $11.21 | −0.97% | $1.23B | — | 16.6 | 2.5 | −3.3% |
| Nokia (ADR) | $10.77 | −1.55% | $59.11B | 77.4 | 25.6 | 2.5 | +2.3% |
| ADTRAN | $7.28 | +0.93% | $584.0M | — | 20.5 | 0.5 | +6.1% |
| Calix | $35.35 | −0.20% | $2.23B | 46.0 | 18.5 | 2.0 | +21.3% |
| Cisco Systems | $105.57 | −5.28% | $439.31B | 33.5 | 20.6 | 6.9 | +17.6% |
| Ciena | $370.88 | +1.34% | $51.80B | 81.7 | 35.8 | 8.6 | +37.0% |
| Median | 61.7 | 20.6 | 2.5 | +17.6% |