Gilat Satellite Networks (NASDAQ:GILT) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a research report released on Thursday,Benzinga reports. The firm currently has a $8.50 price objective on the communications equipment provider’s stock.

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

Gilat Satellite Networks Trading Down 3.7 %

NASDAQ:GILT opened at $6.84 on Thursday. The company has a current ratio of 2.17, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. Gilat Satellite Networks has a 12 month low of $4.04 and a 12 month high of $7.76. The stock has a market capitalization of $390.00 million, a price-to-earnings ratio of 23.59 and a beta of 0.60. The firm has a fifty day simple moving average of $6.52 and a two-hundred day simple moving average of $5.48.

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

Institutional Investors Weigh In On Gilat Satellite Networks

Several institutional investors have recently bought and sold shares of GILT. Tidal Investments LLC lifted its holdings in Gilat Satellite Networks by 4.6% during the third quarter. Tidal Investments LLC now owns 63,621 shares of the communications equipment provider’s stock valued at $335,000 after purchasing an additional 2,812 shares in the last quarter. Covestor Ltd acquired a new position in Gilat Satellite Networks in the fourth quarter valued at $29,000. BNP Paribas Financial Markets purchased a new position in shares of Gilat Satellite Networks during the third quarter worth about $27,000. Foundry Partners LLC increased its position in Gilat Satellite Networks by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock worth $4,396,000 after purchasing an additional 8,045 shares during the period. Finally, PDT Partners LLC boosted its stake in shares of Gilat Satellite Networks by 51.1% during the 3rd quarter. PDT Partners LLC now owns 27,453 shares of the communications equipment provider’s stock worth $145,000 after acquiring an additional 9,287 shares in the last quarter. 35.72% of the stock is currently owned by institutional investors and hedge funds.

About Gilat Satellite Networks

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.