Viasat (NASDAQ:VSAT) Reaches New 1-Year High – Time to Buy?

Viasat Inc. (NASDAQ:VSATGet Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $79.37 and last traded at $77.63, with a volume of 272328 shares. The stock had previously closed at $74.56.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Raymond James Financial set a $74.00 target price on Viasat and gave the stock an “outperform” rating in a report on Friday, April 24th. B. Riley Financial raised their target price on Viasat from $52.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Needham & Company LLC lifted their target price on Viasat from $45.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft upgraded Viasat from a “hold” rating to a “buy” rating and boosted their price target for the stock from $36.00 to $48.00 in a research report on Friday, February 6th. Finally, Barclays raised Viasat from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $23.00 to $49.00 in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.50.

View Our Latest Research Report on Viasat

Viasat Trading Up 5.1%

The company has a quick ratio of 1.90, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $11.62 billion, a P/E ratio of -33.04 and a beta of 1.66. The firm’s 50-day simple moving average is $60.82 and its 200 day simple moving average is $47.50.

Insider Transactions at Viasat

In other news, SVP Benjamin Edward Palmer sold 2,400 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $46.21, for a total transaction of $110,904.00. Following the completion of the sale, the senior vice president directly owned 25,431 shares of the company’s stock, valued at $1,175,166.51. This represents a 8.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Robert James Blair sold 30,411 shares of Viasat stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $47.04, for a total value of $1,430,533.44. Following the completion of the transaction, the senior vice president directly owned 38,108 shares in the company, valued at $1,792,600.32. This represents a 44.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 38,071 shares of company stock valued at $1,804,437 over the last three months. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Viasat

A number of large investors have recently made changes to their positions in VSAT. Brightline Capital Management LLC lifted its stake in shares of Viasat by 1.8% in the 3rd quarter. Brightline Capital Management LLC now owns 2,036,000 shares of the communications equipment provider’s stock valued at $59,655,000 after purchasing an additional 36,000 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Viasat during the third quarter worth about $4,230,000. Hudson Bay Capital Management LP acquired a new stake in shares of Viasat in the third quarter valued at $7,325,000. Principal Financial Group Inc. grew its holdings in Viasat by 52.5% during the 3rd quarter. Principal Financial Group Inc. now owns 647,168 shares of the communications equipment provider’s stock worth $18,962,000 after acquiring an additional 222,690 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Viasat by 38.5% in the 3rd quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider’s stock worth $108,808,000 after purchasing an additional 1,033,194 shares during the last quarter. Institutional investors and hedge funds own 86.05% of the company’s stock.

Viasat Company Profile

(Get Free Report)

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.

Further Reading

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