Gilat Satellite Networks’ (GILT) Buy Rating Reaffirmed at Needham & Company LLC

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $8.50 price target on the communications equipment provider’s stock. Needham & Company LLC’s target price would suggest a potential upside of 25.37% from the stock’s current price.

Separately, StockNews.com upgraded shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 15th.

Gilat Satellite Networks Trading Down 0.9 %

Shares of GILT opened at $6.78 on Thursday. The business’s 50-day moving average price is $6.54 and its 200-day moving average price is $5.49. Gilat Satellite Networks has a twelve month low of $4.04 and a twelve month high of $7.76. The stock has a market cap of $386.60 million, a PE ratio of 23.38 and a beta of 0.60. The company has a quick ratio of 1.84, a current ratio of 2.17 and a debt-to-equity ratio of 0.01.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 5.46% and a return on equity of 9.30%. On average, equities analysts forecast that Gilat Satellite Networks will post 0.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GILT. Jane Street Group LLC purchased a new stake in Gilat Satellite Networks in the fourth quarter worth approximately $421,000. PDT Partners LLC boosted its stake in Gilat Satellite Networks by 8.4% in the fourth quarter. PDT Partners LLC now owns 29,758 shares of the communications equipment provider’s stock worth $183,000 after buying an additional 2,305 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in Gilat Satellite Networks by 22.9% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 53,600 shares of the communications equipment provider’s stock worth $330,000 after buying an additional 10,000 shares in the last quarter. Quarry LP purchased a new stake in Gilat Satellite Networks in the fourth quarter worth approximately $68,000. Finally, Boothbay Fund Management LLC purchased a new stake in Gilat Satellite Networks in the fourth quarter worth approximately $86,000. 35.72% of the stock is currently owned by institutional investors.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks Ltd., together with its subsidiaries, provides satellite-based broadband communication solutions in Israel, the United States, Peru, and internationally. It operates in three segments: Satellite Networks, Integrated Solutions, and Network Infrastructure and Services. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.