Wolfe Research Initiates Coverage on Harmonic (HLIT) with Underperform Rating

Wolfe Research has initiated coverage on Harmonic (HLIT) with an "Underperform" rating, suggesting potential concerns about the company's future performance. The average one-year price target for HLIT is $11.58, implying an upside of 27.85% from the current price of $9.06. The average brokerage recommendation is 2.3, indicating "Outperform" status. The estimated GF Value for HLIT in one year is $13.71, suggesting a potential upside of 51.32%.

Title: Wolfe Research Initiates Coverage on Harmonic with Underperform Rating

Wolfe Research has initiated coverage on Harmonic (HLIT) with an "Underperform" rating, suggesting potential concerns about the company's future performance. The average one-year price target for HLIT is $11.58, implying an upside of 27.85% from the current price of $9.06. The average brokerage recommendation is 2.3, indicating "Outperform" status. The estimated GF Value for HLIT in one year is $13.71, suggesting a potential upside of 51.32% [1].

According to Wolfe Research, the company's projected annual revenue for 2025 is 948MM, an increase of 37.39% over the previous year. The projected annual non-GAAP EPS is 1.45. The average price target represents an increase of 28.70% from its latest reported closing price of $9.18 per share [2].

The fund sentiment indicates a bullish outlook, with a put/call ratio of 0.17. However, the number of funds or institutions reporting positions in Harmonic has increased by 14 in the last quarter, with the average portfolio weight of all funds dedicated to HLIT rising to 0.15%. The total shares owned by institutions decreased by 5.61% over the last three months to 134,142K shares [2].

Significant shareholders, including Invesco, IJR - iShares Core S&P Small-Cap ETF, Trigran Investments, VSCAX - Invesco Small Cap Value Fund, and VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, have reduced their portfolio allocations in HLIT over the last quarter [2].

References

[1] https://www.marketbeat.com/stocks/NASDAQ/HLIT/forecast/
[2] https://fintel.io/news/wolfe-research-initiates-coverage-of-harmonic-hlit-with-underperform-recommendation-960