2023-03-19 20:08:15 ET
Summary
- Harmonic benefited from surging broadband demand in 2022, and I believe the company remains well-positioned in 2023.
- This sizeable amount of backlog and deferred revenue is a testament to the high level of demand from the company’s major broadband customers, as well as expanding video SaaS commitments.
- HLIT’s gross margins are expected to expand further with its increased cloud-based SaaS offerings, expanding video pipeline, and growing traction for its CableOS solution.
- My Dec-23 price target of $19.6 is derived from a forward PE multiple assumption of 20x applied to the consensus EPS estimate of $0.98 for 2024.
For further details see:
Harmonic Remains Well-Positioned With Its Tech Leadership