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Harmonic Inc. (HLIT) provides video delivery software, products, system solutions, and services worldwide. 
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 streaming services, including live streaming, video-on-demand, catch-up TV, start-over TV, network-DVR, and cloud-DVR services through HTTP streaming to various device along with dynamic and personal ad insertion.
The Cable Access segment offers CableOS software-based cable access solutions; and CableOS central cloud services primarily to cable operators. 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.
On October 31st, HLIT reported 3rd Quarter September 2022 earnings of $0.08 per share on revenue of $155.7 million. The consensus earnings estimate was $0.05 per share on revenue of $153.8 million. Revenue grew 23.3% on a year-over-year basis.
The company said it expects fourth quarter non-GAAP earnings of $0.12 to $0.18 per share on revenue of $151.0 million to $165.0 million. The prior estimate was $0.12 per share on revenue of $160.13 million for the quarter ending December 31, 2022. Shares have formed a bullish "cup and handle" and higher share prices are expected.
Entry Point: $14.75
Trading Range: $8.25 to $15.80
Stop Loss: $13.75
Target Price: $16.60
