In a report released today, Tim Savageaux from Northland Securities reiterated a Buy rating on Harmonic Inc (NASDAQ: HLIT), with a price target of $7. The company’s shares opened today at $5.10, close to its 52-week high of $5.25.
According to TipRanks.com, Savageaux is a 3-star analyst with an average return of 4.2% and a 50.6% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Acacia Communications, and Luna Innovations Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Harmonic Inc with a $5.50 average price target.
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Based on Harmonic Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.91 million. In comparison, last year the company had a GAAP net loss of $31.5 million.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HLIT in relation to earlier this year.
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Harmonic, Inc. engages in the development and sale of video delivery software, products, system solutions, and services. It operates through the Video and Cable Edge segments.
