Top 5 Stocks Under $15

3. Harmonic Inc. (NASDAQ:HLIT)

Stock Price as of August 29: $11.06

Harmonic Inc. (NASDAQ:HLIT) is an American media and broadcasting company. The company offers video routing, server, and storage products to other broadcasting firms. 

For the second quarter of 2022, Harmonic Inc. (NASDAQ:HLIT) reported strong beats across the board. The company posted non-GAAP EPS of $0.16, making a 100% leap from $0.08 in the previous quarter and outperforming the estimates by $0.07. The revenue of $157.4 million represented a 38.8% YoY growth and exceeded the market consensus by $7.32 million. The non-GAAP gross margins were recorded at 52.8% and the adjusted EBITDA was $24.3 million vs $9.5 million in the prior year. The company exited the quarter with cash and cash equivalents of $121.8 million, up by $6 million from the previous year.

On August 2, Barclays analyst Tim Long maintained an Overweight rating on Harmonic Inc. (NASDAQ:HLIT) shares with a $14 price target, up from $13. Long mentioned that the company had another strong quarter and outperformed both segments. He further added that cable access demand continues to outperform expectations, resulting in guidance raises.