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

Needham & Company LLC reaffirmed their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a report published on Wednesday morning,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 Stock Down 0.4 %

GILT opened at $7.32 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.14 and a current ratio of 2.52. The company has a market cap of $417.36 million, a price-to-earnings ratio of 16.64 and a beta of 0.60. Gilat Satellite Networks has a one year low of $4.04 and a one year high of $8.05. The business’s fifty day moving average is $6.74 and its two-hundred day moving average is $5.67.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. Analysts anticipate that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in shares of Gilat Satellite Networks during the third quarter valued at approximately $27,000. Covestor Ltd acquired a new position in Gilat Satellite Networks in the 4th quarter valued at $29,000. Virtu Financial LLC purchased a new position in shares of Gilat Satellite Networks during the 3rd quarter worth $61,000. Quarry LP acquired a new stake in shares of Gilat Satellite Networks during the fourth quarter worth $68,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Gilat Satellite Networks in the fourth quarter valued at $85,000. 35.72% of the stock is owned by institutional investors and hedge funds.

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.