Needham Believes Harmonic (HLIT) Won’t Stop Here


In a report released today, Richard Valera from Needham reiterated a Buy rating on Harmonic (HLIT), with a price target of $9.50. The company’s shares closed last Monday at $7.88, close to its 52-week high of $8.47.

According to TipRanks.com, Valera is a 5-star analyst with an average return of 23.4% and a 69.7% success rate. Valera covers the Technology sector, focusing on stocks such as Zoom Video Communications, Trimble Navigation, and Altair Engineering.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Harmonic with a $8.75 average price target.

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The company has a one-year high of $8.47 and a one-year low of $4.44. Currently, Harmonic has an average volume of 578K.

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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. The Video segment sells video processing and production and playout services to cable operators, satellite and telecommunications pay-TV service providers, and broadcast and media companies, including streaming new media companies. The Cable Edge segment markets cable access solutions and related services, such as CableOS software-based Converged Cable Access Platform (CCAP) solutions. The company was founded in June 1988 and is headquartered in San Jose, CA.

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