Needham Reaffirms Their Buy Rating on Harmonic (HLIT)

In a report released today, Richard Valera from Needham reiterated a Buy rating on Harmonic (HLITResearch Report), with a price target of $9.00. The company’s shares closed last Wednesday at $7.79.

According to TipRanks.com, Valera is a 5-star analyst with an average return of 22.4% and a 68.3% success rate. Valera covers the Technology sector, focusing on stocks such as Zoom Video Communications, Trimble Navigation, and Altair Engineering.

Currently, the analyst consensus on Harmonic is a Strong Buy with an average price target of $8.50.

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The company has a one-year high of $8.57 and a one-year low of $4.44. Currently, Harmonic has an average volume of 627.4K.

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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.