Viasat Inc. (NASDAQ:VSAT – Get Free Report) has received a consensus rating of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $90.6667.
Several research firms recently commented on VSAT. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Viasat in a report on Monday, June 1st. Needham & Company LLC increased their target price on Viasat from $90.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Barclays set a $49.00 price target on Viasat in a report on Friday, May 29th. Morgan Stanley set a $95.00 price objective on Viasat in a research note on Monday, August 10th. Finally, Wall Street Zen cut Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 8th.
Get Our Latest Stock Analysis on Viasat
Viasat Price Performance
Viasat (NASDAQ:VSAT – Get Free Report) last posted its earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.34). Viasat had a positive return on equity of 1.44% and a negative net margin of 0.64%.The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned ($0.02) EPS. Viasat’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts predict that Viasat will post -0.36 earnings per share for the current year.
Insider Activity
In other news, CFO Garrett L. Chase sold 4,000 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $72.23, for a total value of $288,920.00. Following the sale, the chief financial officer directly owned 30,239 shares of the company’s stock, valued at approximately $2,184,162.97. This represents a 11.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Benjamin Edward Palmer sold 2,400 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $75.46, for a total transaction of $181,104.00. Following the completion of the transaction, the senior vice president owned 21,159 shares of the company’s stock, valued at $1,596,658.14. This trade represents a 10.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 671,861 shares of company stock valued at $47,405,788. 1.40% of the stock is currently owned by insiders.
Institutional Trading of Viasat
A number of hedge funds have recently made changes to their positions in the stock. Jefferies Financial Group Inc. purchased a new position in shares of Viasat in the fourth quarter worth $830,000. South Dakota Investment Council grew its stake in shares of Viasat by 92.6% in the first quarter. South Dakota Investment Council now owns 336,056 shares of the communications equipment provider’s stock worth $15,391,000 after purchasing an additional 161,552 shares during the last quarter. Everett Harris & Co. CA purchased a new position in Viasat during the 2nd quarter valued at about $5,423,000. Gamco Investors INC. ET AL raised its position in Viasat by 84.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 38,700 shares of the communications equipment provider’s stock valued at $1,334,000 after purchasing an additional 17,700 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. raised its position in Viasat by 100.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the communications equipment provider’s stock valued at $2,895,000 after purchasing an additional 42,000 shares during the last quarter. 86.05% of the stock is owned by institutional investors.
About Viasat
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.
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