There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on MagnaChip (MX), Cantaloupe (CTLP) and Harmonic (HLIT) with bullish sentiments.
MagnaChip (MX)
In a report released today, Rajvindra Gill from Needham assigned a Buy rating to MagnaChip, with a price target of $30.00. The company’s shares closed last Monday at $25.85, close to its 52-week high of $26.98.
According to TipRanks.com, Gill is a 5-star analyst with an average return of 19.3% and a 72.0% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Smart Global Holdings, and Everspin Technologies.
Currently, the analyst consensus on MagnaChip is a Moderate Buy with an average price target of $27.50.
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Cantaloupe (CTLP)
Northland Securities analyst Michael Latimore maintained a Buy rating on Cantaloupe today and set a price target of $17.00. The company’s shares closed last Monday at $12.48, close to its 52-week high of $12.99.
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 32.2% and a 59.4% success rate. Latimore covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Synchronoss Technologies, and Ribbon Communications.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cantaloupe with a $15.67 average price target.
Harmonic (HLIT)
Northland Securities analyst Tim Savageaux maintained a Buy rating on Harmonic today and set a price target of $12.00. The company’s shares closed last Monday at $7.91.
According to TipRanks.com, Savageaux is a top 100 analyst with an average return of 29.4% and a 69.0% success rate. Savageaux covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Applied Optoelectronics, and Communications Systems.
Harmonic has an analyst consensus of Strong Buy, with a price target consensus of $11.50, implying a 50.5% upside from current levels. In a report issued on June 7, Raymond James also maintained a Buy rating on the stock.
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