2024-07-05 08:57:45 ET
Summary
- Harmonic Inc. shares are expensive at 20x FWD earnings.
- Harmonic is a global provider of broadband solutions for streaming and broadcasting services, with a focus on shifting towards streaming service providers.
- The company's revenues are split into non-recurring appliance and integration segment, and recurring SaaS and services segment, with strong lock-in and high switching costs.
- Shares are a hold despite being somewhat overvalued.
Investment Thesis
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Harmonic: Give It Some Time