10 Best Debt-Free IT Stocks to Buy Under $10

3. Harmonic Inc. (NASDAQ:HLIT)

Ent. Value: $1.2 billion; Market Cap: $1.2 billion

EV to Market Cap: 1.0

Share Price: $9.77

Number of Hedge Fund Holders: 27

Harmonic Inc. (NASDAQ:HLIT) is a communications equipment company which provides video delivery and broadband access solutions for media companies and network operators. The company’s cloud-based software and edge computing technologies enable high-quality video streaming, live broadcasting, and broadband network optimisation. While the company reported strong results, analysts viewed its guidance for the next financial year as weaker.

Following the quarterly results, a Needham analyst lowered the price target on Harmonic Inc. (NASDAQ:HLIT) to $14 from $18 and maintained a Buy rating on the shares, in a report on February 11. As per the analyst, the company delivered a very strong Q4 with revenue up 33%, but introduced a weaker FY25 guide than feared, driven by soft demand from its two major customers, i.e. Comcast Corp. (NASDAQ:CMCSA) and Charter Communications Inc. (NASDAQ:CHTR). The analyst added, however, that the Comcast transition to DOCSIS 4.0 Unified (D4U) is seen improving Harmonic’s strong competitive market position, with few competitive threats for the company.