Company profile

Ticker
HLIT
Exchange
CEO
Patrick J. Harshman
Employees
Incorporated
Location
Fiscal year end
Former names
HARMONIC LIGHTWAVES INC
SEC CIK
IRS number
770201147

HLIT stock data

(
)

Calendar

2 Nov 20
6 Dec 20
31 Dec 20

News

Quarter (USD) Sep 20 Jun 20 Mar 20 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Harmonic earnings reports.

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
15 Nov 20 Ben-Natan Nimrod Common Stock Option exercise Aquire M No 0 8,333 0 351,896
15 Nov 20 Ben-Natan Nimrod Common Stock Option exercise Aquire M No 0 10,000 0 343,563
15 Nov 20 Ben-Natan Nimrod RSU Common Stock Option exercise Dispose M No 0 8,333 0 41,667
15 Nov 20 Ben-Natan Nimrod RSU Common Stock Option exercise Dispose M No 0 10,000 0 10,000
15 Nov 20 Ian Graham Common Stock Payment of exercise Dispose F No 6.26 2,502 15.66K 73,976
15 Nov 20 Ian Graham Common Stock Option exercise Aquire M No 0 4,584 0 76,478
15 Nov 20 Ian Graham Common Stock Payment of exercise Dispose F No 6.26 2,274 14.24K 71,894
15 Nov 20 Ian Graham Common Stock Option exercise Aquire M No 0 4,167 0 74,168
15 Nov 20 Ian Graham RSU Common Stock Option exercise Dispose M No 0 4,584 0 22,917
15 Nov 20 Ian Graham RSU Common Stock Option exercise Dispose M No 0 4,167 0 4,167
70.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 243 211 +15.2%
Opened positions 55 54 +1.9%
Closed positions 23 24 -4.2%
Increased positions 77 75 +2.7%
Reduced positions 84 58 +44.8%
13F shares
Current Prev Q Change
Total value 22.23B 20.33B +9.4%
Total shares 68.54M 63.64M +7.7%
Total puts 315.82K 360.1K -12.3%
Total calls 388.7K 390.5K -0.5%
Total put/call ratio 0.8 0.9 -11.9%
Largest owners
Shares Value Change
BLK Blackrock 9.22M $479.53M -1.8%
FMR 8.58M $445.87M +9.8%
Vanguard 6.39M $332.17M -2.4%
Artisan Partners Limited Partnership 3.17M $164.91M -0.8%
JHG Janus Henderson 2.83M $147.11M -0.3%
Granahan Investment Management 2.74M $142.6M -10.1%
STT State Street 1.86M $96.58M -4.8%
IVZ Invesco 1.85M $96.22M +8.7%
CS Credit Suisse 1.82M $94.6M -0.2%
MKFCF Mackenzie Financial 1.27M $65.77M -28.7%
Largest transactions
Shares Bought/sold Change
RGM Capital 416.62K -1.32M -76.0%
Baillie Gifford & Co 1.16M +1.16M NEW
FHI Federated Hermes Inc - 1M +1M NEW
Nikko Asset Management Americas 784.36K +784.36K NEW
RAT Rathbone Brothers 782K +782K NEW
CMTDF Sumitomo Mitsui Trust 778.43K +778.43K NEW
FMR 8.58M +766.32K +9.8%
Clal Insurance Enterprises 630.28K +595.28K +1700.8%
MKFCF Mackenzie Financial 1.27M -509.65K -28.7%
Jericho Capital Asset Management 632K -334K -34.6%

Financial report summary

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Risks
  • We depend on cable, satellite and telco, and broadcast and media industry spending for our revenue and any material decrease or delay in spending in any of these industries would negatively impact our operating results, financial condition and cash flows.
  • The markets in which we operate are intensely competitive.
  • We need to develop and introduce new and enhanced products and solutions in a timely manner to meet the needs of our customers and to remain competitive.
  • Our future growth depends on market acceptance of several broadband services, on the adoption of new broadband technologies, and on several other broadband industry trends.
  • We depend significantly on our international revenue and are subject to the risks associated with international operations, including those of our resellers, contract manufacturers and outsourcing partners, which may negatively affect our operating results.
  • We purchase several key components, subassemblies and modules used in the manufacture or integration of our products from sole or limited sources, and we rely on contract manufacturers and other subcontractors.
  • The loss of one or more of our key customers, a failure to continue diversifying our customer base, or a decrease in the number of larger transactions could harm our business and our operating results.
  • We rely on resellers, value-added resellers and systems integrators for a significant portion of our revenue, and disruptions to, or our failure to develop and manage our relationships with these customers or the processes and procedures that support them could adversely affect our business.
  • We have made, and may continue to make, acquisitions, and any acquisition could disrupt our operations, cause dilution to our stockholders and materially and adversely affect our business, operating results, cash flows and financial condition.
  • We may not be able to effectively manage our operations.
  • We face risks associated with having outsourced engineering resources located in Ukraine.
  • In order to manage our growth, we must be successful in addressing management succession issues and attracting and retaining qualified personnel.
  • We face risks associated with having facilities and employees located in Israel.
  • Our operating results are likely to fluctuate significantly and, as a result, may fail to meet or exceed the expectations of securities analysts or investors, causing our stock price to decline.
  • Fluctuations in our future effective tax rates could affect our future operating results, financial condition and cash flows.
  • We are subject to taxation related risks in multiple jurisdictions.
  • We or our customers may face intellectual property infringement claims from third parties.
  • We may be the subject of litigation which, if adversely determined, could harm our business and operating results.
  • We may sell one or more of our product lines, from time to time, as a result of our evaluation of our products and markets, and any such divestiture could adversely affect our continuing business and our expenses, revenues, results of operation, cash flows and financial position.
  • Our failure to adequately protect our proprietary rights and data may adversely affect us.
  • Our products include third-party technology and intellectual property, and our inability to acquire new technologies or use third-party technology in the future could harm our business.
  • Our use of open source software in some of our products may expose us to certain risks.
  • We are subject to import and export control and trade and economic sanction laws and regulations that could subject us to liability or impair our ability to compete in international markets.
  • We may need additional capital in the future and may not be able to secure adequate funds at all or on terms acceptable to us.
  • Cybersecurity incidents, including data security breaches or computer viruses, could harm our business by disrupting our business operations, compromising our products and services, damaging our reputation or exposing us to liability.
  • Our operating results could be adversely affected by natural disasters affecting us or impacting our third-party manufacturers, suppliers, resellers or customers.
  • Our business and industry are subject to various laws and regulations that could adversely affect our business, operating results, cash flows and financial condition.
  • Some anti-takeover provisions contained in our certificate of incorporation and bylaws, as well as provisions of Delaware law, could impair a takeover attempt.
  • We have implemented a new enterprise resource planning system, and if this new system proves ineffective, we may be unable to timely or accurately prepare financial reports, make payments to our suppliers and employees, or invoice and collect from our users.
  • Servicing our debt requires a significant amount of cash, and we may not have sufficient cash flow from our business to pay our substantial debt.
  • Despite our current debt levels, we may still incur substantially more debt or take other actions which would intensify the risks discussed above.
  • The conditional conversion feature of the Notes, if triggered, may adversely affect our financial condition and operating results.
  • The accounting method for convertible debt securities that may be settled in cash, such as the Notes, could have a material effect on our reported financial results.
  • Our common stock price may be extremely volatile, and the value of an investment in our stock may decline.
  • Our stock price may decline if additional shares are sold in the market or if analysts drop coverage of or downgrade our stock.
Management Discussion
  • Net revenue in the Americas increased $5.3 million, or 2% in 2019, compared to 2018, primarily due to the growing success of our CableOS solutions, which was offset by a decrease in revenue from other products and services.
  • EMEA net revenue increased $10.4 million, or 10% in 2019, compared to 2018, primarily due to an increase in revenue from the sale of CableOS products and services, offset by a decrease in revenue in the Video segment.
  • APAC net revenue decreased $16.4 million, or 21% in 2019 compared to 2018, primarily due to a decrease in revenue in the Video segment. The decrease in revenue in our Video segment was primarily due to a shift in product mix to software and SaaS-based products.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: bore, EPS, Exhibit, loosening, presidential, show, Similarly, text, wholly
Removed: draft, thousand

Patents

APP
Utility
Retaining Legacy STB Support with HFC Plant Migration to High Split
15 Oct 20
Propagating a downstream (DS) Out-of-Band (OOB) signal at a frequency receivable by a set of legacy set-top boxes (STBs) while supporting enhanced upstream peak data rates.
GRANT
Utility
Virtual cable hub
13 Oct 20
A virtualized Cable Modem Termination System (CMTS) that provides high speed data services to one or more remote physical devices (RPDs).
APP
Utility
CATV Equipment Fast Boot After Power Interruption
10 Sep 20
Recovering a hardware component, such as a Remote MACPHY node (RMN), a wireless base station, a CATV amplifier, a Wi-Fi hotspot, a microcell, or a PON switch, after a power interruption.
GRANT
Utility
Browsing and viewing video assets using TV set-top box
18 Aug 20
Roughly described, a system and method for delivering video content to a user's client device in a video-on-demand (VOD) system, which includes providing a collection of video segments, the segments having a predefined default sequence; establishing a streaming video session according to a session-oriented protocol; transmitting toward the client device a script executable by the client device, the script operable to transmit navigational codes toward the head-end equipment in response to and indicating user selection among navigational choices; beginning transmission of the video segments in the collection toward the client device in accordance with the default sequence of segments; and in response to receipt of one of the navigational codes, and without tearing down the streaming video session, altering the transmission sequence to jump to the segment that the user selected.
GRANT
Utility
Increasing the dynamic range of a digital to analog converter (DAC)
14 Jul 20
Increasing a dynamic range of a digital to analog converter (DAC).