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

4 Aug 20
22 Sep 20
31 Dec 20

News

Quarter (USD) Jun 20 Mar 20 Sep 19 Jun 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
2 Sep 20 Krall David Common Stock Buy Aquire P No 5.94 10,000 59.4K 71,284
1 Sep 20 Krall David Common Stock Buy Aquire P No 5.88 10,000 58.8K 61,284
19 Aug 20 Ian Graham RSU Common Stock Grant Aquire A No 0 20,000 0 20,000
15 Aug 20 Harshman Patrick Common Stock Payment of exercise Dispose F No 6.72 8,768 58.92K 1,009,738
15 Aug 20 Harshman Patrick Common Stock Option exercise Aquire M No 0 16,667 0 1,018,506
15 Aug 20 Harshman Patrick Common Stock Payment of exercise Dispose F No 6.72 8,768 58.92K 1,001,839
15 Aug 20 Harshman Patrick Common Stock Option exercise Aquire M No 0 16,667 0 1,010,607
15 Aug 20 Harshman Patrick RSU Common Stock Option exercise Dispose M No 0 16,667 0 99,999
15 Aug 20 Harshman Patrick RSU Common Stock Option exercise Dispose M No 0 16,667 0 33,333
15 Aug 20 Haltmayer Neven Common Stock Payment of exercise Dispose F No 6.72 4,295 28.86K 211,739
65.3% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 211 181 +16.6%
Opened positions 54 27 +100.0%
Closed positions 24 72 -66.7%
Increased positions 75 67 +11.9%
Reduced positions 58 63 -7.9%
13F shares
Current Prev Q Change
Total value 20.33B 13.98B +45.4%
Total shares 63.64M 60.61M +5.0%
Total puts 360.1K 265.4K +35.7%
Total calls 390.5K 326.1K +19.7%
Total put/call ratio 0.9 0.8 +13.3%
Largest owners
Shares Value Change
BLK BlackRock 9.39M $389.17M +3.1%
FMR 7.81M $323.55M -13.8%
Vanguard 6.54M $271.14M -0.1%
Artisan Partners Limited Partnership 3.2M $132.48M +15.4%
Granahan Investment Management 3.05M $126.35M -5.4%
JHG Janus Henderson 2.84M $117.56M +160.4%
STT State Street 1.95M $80.83M +2.6%
CS Credit Suisse 1.82M $75.57M +2587.9%
MKFCF Mackenzie Financial 1.77M $73.52M +4.2%
RGM Capital 1.74M $72.05M -15.6%
Largest transactions
Shares Bought/sold Change
CS Credit Suisse 1.82M +1.76M +2587.9%
JHG Janus Henderson 2.84M +1.75M +160.4%
FMR 7.81M -1.25M -13.8%
Gilder Gagnon Howe & Co 128.17K -1.02M -88.8%
Jericho Capital Asset Management 966K +966K NEW
Contour Asset Management 0 -910.67K EXIT
WDR Waddell & Reed Financial 802.96K +802.96K NEW
Shellback Capital 580.44K +580.44K NEW
Portolan Capital Management 264.79K -560.92K -67.9%
Shelter Haven Capital Management 0 -430.98K EXIT

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: AG, Article, CHF, found, investigation, Iran, missed, OFAC, preservation, reopening, repaid, SG, subpoena, Switzerland, UBS
Removed: appeal, arm, final, QCSA, treatment

Patents

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).
GRANT
Utility
Dynamically adjusting DOCSIS port utilization
14 Jul 20
Dynamically adjusting upstream and/or downstream spectrum usage by a Remote PHY node.
GRANT
Utility
System and method for feedback based traffic management
30 Jun 20
A communication system that may include a traffic management module and a communication interface module.