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

Needham & Company LLC restated their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a report published on Wednesday,Benzinga reports. They currently have 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 0.3 %

GILT opened at $7.11 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.52 and a quick ratio of 2.14. The company has a market cap of $405.39 million, a price-to-earnings ratio of 16.16 and a beta of 0.60. The firm has a 50 day simple moving average of $6.79 and a 200 day simple moving average of $5.69. Gilat Satellite Networks has a fifty-two week low of $4.04 and a fifty-two week high of $8.05.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, topping 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%. On average, sell-side analysts anticipate that Gilat Satellite Networks will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On Gilat Satellite Networks

Several large investors have recently bought and sold shares of the company. PharVision Advisers LLC bought a new stake in Gilat Satellite Networks in the fourth quarter valued at approximately $257,000. Tidal Investments LLC increased its stake in Gilat Satellite Networks by 3.4% in the fourth quarter. Tidal Investments LLC now owns 65,779 shares of the communications equipment provider’s stock valued at $405,000 after purchasing an additional 2,158 shares in the last quarter. Lazard Asset Management LLC increased its stake in Gilat Satellite Networks by 62.9% in the fourth quarter. Lazard Asset Management LLC now owns 167,268 shares of the communications equipment provider’s stock valued at $1,028,000 after purchasing an additional 64,610 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Gilat Satellite Networks by 83.4% in the fourth quarter. Bank of America Corp DE now owns 49,526 shares of the communications equipment provider’s stock valued at $305,000 after buying an additional 22,515 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Gilat Satellite Networks in the fourth quarter valued at approximately $421,000. Institutional investors own 35.72% of the company’s stock.

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.