Harmonic Inc. HLIT recently strengthened its market position by securing a deal with a leading broadband provider — Ritter Communications — to establish streamlined network connectivity with high broadband speeds. Notably, Ritter will leverage Harmonic’s CableOS cable access solution, which includes a virtual Cable Modem Termination System (vCMTS) software, for a smarter broadband network and utilize CableOS Central solution to stimulate network proactivity with advanced analytics. The partnership will enable the companies to boost network performance with cloud-native virtualization and accelerate next-gen fiber deployments with enhanced capacity.
Based in Jonesboro, AR, Ritter is a broadband cable provider that provides high-speed Internet connectivity with personalized business solutions. The company not only offers quality business and residential communication services but also delivers best-in-class infrastructure with high-grade data and cloud services. Equipped with a robust broadband network, it caters to more than 45,000 customers across four states.
Markedly, the CableOS virtualized cable access solution combines DOCSIS functionality with a flexible pricing model and minimizes energy consumption up to 75% to enhance network capacity. It leverages AI and ML to improve virtual reality experience. With 24×7 secure operations, it protects home and office networks with intelligent threat detection. The CableOS Central is a real-time monitoring solution that accelerates data-driven proactivity with maximum uptime. It resolves network-related issues efficiently and provides uninterrupted connectivity to ensure service continuity. Consequently, these features enable Ritter to enhance network quality and reduce operating costs with a simplified deployment process.
Apart from offering cable broadband upgrades, Harmonic also specializes in delivering high video quality for subscribers of its over-the-top multiscreen services with the help of its EyeQ solution. Primarily, it competes in the cable access market with companies like CommScope Holding Company, Inc. COMM and Cisco Systems, Inc. CSCO for a larger market share. The CableOS solution is considered an ideal solution among operators for optimizing network diagnostics for a seamless network infrastructure. As cable operators alter their operational priorities amid COVID-19 pandemic, it is worth mentioning that Harmonic’s latest achievement is likely to improve its competitive position, while enhancing revenues in the near future as well.
The stock has lost 32.8% compared with 12.1% decline of the industry in the past year.
Zacks Rank & Key Pick
Harmonic currently carries a Zacks Rank #3 (Hold). It has a long-term earnings growth expectation of 15%.
A better-ranked stock in the industry is Turtle Beach Corporation HEAR, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Turtle Beach’s bottom line surpassed the Zacks Consensus Estimate in the last four quarters. The company has a trailing four-quarter earnings surprise of 46.4%, on average.
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