Harmonic Inc. HLIT announced that Weigel Broadcasting, a leading North American broadcaster, opted to deploy its state-of-the-art VOS Media Software. With this collaboration, HLIT aims to equip Weigel with advanced playout-to-delivery capabilities, including ATSC 1.0 central casting, enabling the latter to achieve significant cost reductions and improved operational efficiency.
Harmonic's VOS Media solution is a comprehensive media processing platform used to manage the video production and delivery workflow for broadcast and over-the-top applications over public or private cloud infrastructure. The solution offers a fully software-based workflow that covers all aspects of video distribution, from ingest and central casting to advanced playout, encoding, transcoding, statistical multiplexing and distribution. With its built-in user interface, the software allows for seamless playlist monitoring and automated channel delivery via the web, eliminating the need for a complex automation system.
The transition to a fully software-driven workflow will not only streamline operational processes but also increase flexibility and efficiency. This will allow Weigel to easily add stations and enhance its broadcast offerings with features like delay-line, program and system information protocol fetch, Nielsen watermarking, Dolby upmix, and AI captioning integration, all without the complexity and costs of traditional broadcast setups.
Does HLIT Stock Stand to Gain From the Collaboration?
The partnership with Weigel strengthens Harmonic’s presence in the cloud-based media solutions space, enabling the latter to reach new customers and markets. It underscores Harmonic’s ongoing commitment to allowing media companies to accelerate their service deployments on major cloud platforms. By combining HLIT’s award-winning media processing and delivery solutions with Weigel’s infrastructure, the collaboration continues to open doors to innovative revenue-generating use cases. It further enhances the agility, resiliency, security and scalability of media workflows.
These advancements are expected to generate incremental demand for Harmonic’s solutions, leading to higher revenues. An improved financial performance is likely to drive the stock.
Harmonic’s Stock Price Performance
Shares of the company have plunged 20.2% over the past year against the industry’s growth of 17%.
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HLIT’s Zacks Rank & Stocks to Consider
Harmonic currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader industry have been discussed below.
InterDigital IDCC flaunts a Zacks Rank #1 (Strong Buy) at present. In the trailing four quarters, it delivered an earnings surprise of 158.41%.
You can see the complete list of today’s Zacks #1 Rank stocks here.
This is a pioneer in advanced mobile technologies that enable wireless communications and capabilities. The company designs and develops a wide range of advanced technology solutions used in digital cellular, wireless 3G, 4G and IEEE 802-related products and networks.
Celestica Inc. CLS currently sports a Zacks Rank #1. It delivered a trailing four-quarter average earnings surprise of 10.27%.
The company provides competitive manufacturing technology and service solutions for printed circuit assembly and system assembly, as well as post-manufacturing support to many of the world's leading original equipment manufacturers.
Arista Networks, Inc. ANET, carrying a Zacks Rank of 2 (Buy) at present, supplies products to a prestigious set of customers, including Fortune 500 global companies in markets, such as cloud titans, enterprises, financials and specialty cloud service providers.
ANET delivered a trailing four-quarter average earnings surprise of 12.87%. It has a long-term growth expectation of 14.41%
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>Harmonic Inc. (HLIT) : Free Stock Analysis Report
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InterDigital, Inc. (IDCC) : Free Stock Analysis Report
Arista Networks, Inc. (ANET) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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