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

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

Separately, StockNews.com cut Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 7th.

Gilat Satellite Networks Stock Performance

Shares of GILT stock opened at $6.13 on Tuesday. The company’s fifty day moving average price is $6.35 and its 200-day moving average price is $6.38. The stock has a market cap of $349.51 million, a PE ratio of 13.93 and a beta of 0.37. The company has a current ratio of 2.52, a quick ratio of 2.14 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 $8.05.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Monday, May 19th. The communications equipment provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04). Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. The business had revenue of $92.04 million for the quarter, compared to the consensus estimate of $100.67 million. On average, equities analysts expect that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

Institutional Trading of Gilat Satellite Networks

Institutional investors and hedge funds have recently modified their holdings of the business. Royce & Associates LP bought a new position in Gilat Satellite Networks during the first quarter valued at approximately $4,434,000. Penn Capital Management Company LLC bought a new position in shares of Gilat Satellite Networks during the 1st quarter valued at $2,755,000. LBP AM SA boosted its stake in shares of Gilat Satellite Networks by 83.9% in the 4th quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider’s stock worth $2,136,000 after buying an additional 158,468 shares during the last quarter. Inspire Investing LLC purchased a new stake in Gilat Satellite Networks during the fourth quarter valued at $864,000. Finally, Van ECK Associates Corp increased its position in Gilat Satellite Networks by 279.0% during the fourth quarter. Van ECK Associates Corp now owns 136,380 shares of the communications equipment provider’s stock valued at $839,000 after acquiring an additional 100,396 shares during the last quarter. Institutional investors own 35.72% of the company’s stock.

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.