In a report released today, Richard Valera from Needham reiterated a Buy rating on Harmonic (HLIT), with a price target of $10.00. The company’s shares closed last Monday at $7.36.
According to TipRanks.com, Valera is a 5-star analyst with an average return of 10.0% and a 62.9% success rate. Valera covers the Consumer Goods sector, focusing on stocks such as Audiocodes, Lantronix, and Synopsys.
Currently, the analyst consensus on Harmonic is a Moderate Buy with an average price target of $10.00.
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Based on Harmonic’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $11.66 million. In comparison, last year the company had a net profit of $3.33 million.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HLIT in relation to earlier this year. Most recently, in December 2019, Neven Haltmayer, the SVP, Video R&D of HLIT sold 30,000 shares for a total of $247,413.
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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.
