Sectors & IndustriesTechnologyCommunication Equipment

Best Communication Equipment Stocks to Buy Now (2024)

Top communication equipment stocks in 2024 ranked by overall Zen Score. See the best communication equipment stocks to buy now, according to analyst forecasts for the communication equipment industry.

According to Zen Score, the 3 best communication equipment stocks to buy right now are:

Harmonic (NASDAQ:HLIT) is the top communication equipment stock with a Zen Score of 58, which is 29 points higher than the communication equipment industry average of 29. It passed 19 out of 33 due diligence checks and has strong fundamentals. Harmonic has seen its stock lose -33.86% over the past year, underperforming other communication equipment stocks by -21 percentage points.

Harmonic has an average 1 year price target of $16.50, an upside of 79.35% from Harmonic's current stock price of $9.20.

Harmonic stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Harmonic, 75% have issued a Strong Buy rating, 25% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Cisco (NASDAQ:CSCO) is the second best communication equipment stock with a Zen Score of 58, which is 29 points higher than the communication equipment industry average of 29. It passed 21 out of 38 due diligence checks and has strong fundamentals. Cisco has seen its stock return 2.14% over the past year, overperforming other communication equipment stocks by 15 percentage points.

Cisco has an average 1 year price target of $53.15, an upside of 10.51% from Cisco's current stock price of $48.10.

Cisco stock has a consensus Hold recommendation according to Wall Street analysts. Of the 13 analysts covering Cisco, 15.38% have issued a Strong Buy rating, 7.69% have issued a Buy, 76.92% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Ituran Location & Control (NASDAQ:ITRN) is the third best communication equipment stock with a Zen Score of 55, which is 26 points higher than the communication equipment industry average of 29. It passed 20 out of 38 due diligence checks and has strong fundamentals. Ituran Location & Control has seen its stock return 20.01% over the past year, overperforming other communication equipment stocks by 33 percentage points.

Out of 12 communication equipment stocks that have issued dividends in the past year, the 3 communication equipment stocks with the highest dividend yields are:

Clearone (NASDAQ:CLRO) has an annual dividend yield of 163.4%, which is 147 percentage points higher than the communication equipment industry average of 16.26%. Clearone's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Clearone's dividend has shown consistent growth over the last 10 years.

Clearone's dividend payout ratio of -5,000% indicates that its high dividend yield might not be sustainable for the long-term.

Audiocodes (NASDAQ:AUDC) has an annual dividend yield of 5.18%, which is -11 percentage points lower than the communication equipment industry average of 16.26%. Audiocodes's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Audiocodes's dividend has not shown consistent growth over the last 10 years.

Audiocodes's dividend payout ratio of 128.6% indicates that its high dividend yield might not be sustainable for the long-term.

Ericsson Lm Telephone Co (NASDAQ:ERIC) has an annual dividend yield of 4.85%, which is -11 percentage points lower than the communication equipment industry average of 16.26%. Ericsson Lm Telephone Co's dividend payout is not stable, having dropped more than 10% five times in the last 10 years. Ericsson Lm Telephone Co's dividend has not shown consistent growth over the last 10 years.

Ericsson Lm Telephone Co's dividend payout ratio of -33.1% indicates that its high dividend yield might not be sustainable for the long-term.

Communication equipment stocks were up 3.45% in the last day, and up 4.9% over the last week. Impinj was the among the top gainers in the communication equipment industry, gaining 28.65% yesterday.

Impinj shares are trading lower after gaining Thursday on Q1 earnings.

Based on WallStreetZen's Valuation Score, the 3 most undervalued communication equipment stocks right now are:

Audiocodes (NASDAQ:AUDC) is the most undervalued communication equipment stock based on WallStreetZen's Valuation Score. Audiocodes has a valuation score of 86, which is 61 points higher than the communication equipment industry average of 25. It passed 6 out of 7 valuation due diligence checks.

Audiocodes's stock has gained 4.61% in the past year. It has overperformed other stocks in the communication equipment industry by 18 percentage points.

Telesat (NASDAQ:TSAT) is the second most undervalued communication equipment stock based on WallStreetZen's Valuation Score. Telesat has a valuation score of 71, which is 46 points higher than the communication equipment industry average of 25. It passed 5 out of 7 valuation due diligence checks.

Telesat's stock has dropped -13.37% in the past year. It has performed in line with other stocks in the communication equipment industry.

Clearfield (NASDAQ:CLFD) is the third most undervalued communication equipment stock based on WallStreetZen's Valuation Score. Clearfield has a valuation score of 57, which is 32 points higher than the communication equipment industry average of 25. It passed 4 out of 7 valuation due diligence checks.

Clearfield's stock has dropped -29.15% in the past year. It has underperformed other stocks in the communication equipment industry by -16 percentage points.