Harmonic Inc (HLIT) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Harmonic Inc stock $3.53, price $9.51, that is 62.9% below the price, quality 56 out of 100. Rating: strongly overvalued. Calculated from audited financials with 13 of our 26 valuation models and 37 quality factors, updated daily.
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Harmonic Inc
HLIT · USOur calculation puts a fair price 63% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range $8.25 – $18.39 · fair‑value band $2.59 – $4.47 · the $9.51 price screens above the $3.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 4, 2026.
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Company profile
Harmonic Inc., together with its subsidiaries, provides broadband access solutions worldwide.
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The company provides software-based broadband access solution, including cOS software-based broadband access solutions to broadband operators, an end-to-end solution consisting of virtualized cloud-native software; hardware products include Oyster, Ripple and SeaStar DAA nodes; Reef and Wave PHY shelf products; pebble remote PHY Devices; and fin, pearl and pier OLT modules and devices; and cOS software-based broadband access solutions to broadband operators; and cOS central cloud services, a subscription service for cOS customers.
It also provides technical support and professional services, such as maintenance and support, consulting, implementation, integration services, program management, technical design and planning, building and site preparation, integration and equipment installation, end-to-end system testing, and training, as well as SaaS-related support and deployment.
It sells its products through its direct sales force, as well as through independent resellers and systems integrators. It also serves cable and telco operators. The company was incorporated in 1988 and is headquartered in San Jose, California.
Stock analysis
Harmonic Inc (HLIT) currently trades at $9.51, while our model-based Fair Value estimate is $3.53, 63% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $6.82 per share, and 0 of the 13 models we run sit above the $9.51 price.
Bear case: the Earnings-Based group reads lowest at $0.8300, and 13 of the 13 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $2.59 (bear) to $4.47 (bull), the price of $9.51 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 56/100 (solid quality), in the Technology sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Harmonic Inc reported revenue of $361M in FY2025 versus $507M in FY2021, a compound −8.2%/yr. Reported net income was −$43.3M in FY2025.
Key figures
Market cap $1.0B Small · P/S ratio 2.50 · EPS (TTM) $0.2600 · Net margin −12.0% · Return on equity 6.6% · Return on assets (EBIT) 4.5% (5-year average) · Operating margin 18.0% · Revenue (TTM) $444M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).
What moves the price
The share trades about 44% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −45% fair-value upside, at −63%, HLIT screens richer than that median.
Fair Value models
All 13 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Insider trades
In the last 6 months, 2 officers or directors sold shares worth $477,815 and none bought.
- SaleStephanie CopelandDirector4,300 shares at $13.31$57,233May 14, 2026
- SaleNeven HaltmayerSVP & GM, Video Business2× since Dec 12, 2025: 61,766 shares, avg. $11.89$734,209May 13, 2026
- BuyDavid KrallDirector47,528 shares at $10.50$499,044Dec 11, 2025
Plus 18 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗
Revenue & earnings trend
Growth Forecast
HLIT screens overvalued: fair value 63% below the price. Compare with Cisco Systems, Inc →
Earlier news
- Comcast-Backed Recon Fiber Monitoring Launch Could Be A Game Changer For Harmonic (HLIT)
- Harmonic Launches Recon Product Family Developed in Partnership with Comcast
- Harmonic (HLIT) Bets On AI Intelligence To Reshape Broadband Operations
- Harmonic (HLIT) Q2 2026 Earnings Call Transcript
Compare Harmonic Inc with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Communication Equipment · 303 stocks
Valuation Multiplesvs Communication Equipment median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Information Technology sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Price/FCF by industry
- Debt-to-equity by industry
- Stock screener with 62 metrics
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Communication Equipment stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Cisco Systems, Inc CSCO | $93.85 | $103.24 | +10% | vs HLIT |
| Eoptolink Technology Inc 300502 | ¥172.10 | ¥189.31 | +10% | vs HLIT |
| Ubiquiti Inc UI | $592.84 | $652.12 | +10% | vs HLIT |
| Zhongji Innolight Co 300308 | ¥448.00 | ¥342.18 | −24% | vs HLIT |
| Nokia Oyj NOKIA | €6.98 | €3.87 | −45% | vs HLIT |
| Motorola Solutions, Inc MSI | $514.51 | $249.63 | −51% | vs HLIT |
| Foxconn Industrial Internet Co 601138 | ¥40.71 | ¥13.93 | −66% | vs HLIT |
| Ciena Corporation CIEN | $243.39 | $74.58 | −69% | vs HLIT |
| Yangtze Optical Fibre And Cable Joint Stock Limited 601869 | ¥240.00 | ¥59.92 | −75% | vs HLIT |
| Lumentum Holdings LITE | $538.59 | $85.88 | −84% | vs HLIT |
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