Lazard Asset Management LLC Acquires 64,610 Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Lazard Asset Management LLC raised its position in Gilat Satellite Networks Ltd. (NASDAQ:GILT) by 62.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 167,268 shares of the communications equipment provider’s stock after acquiring an additional 64,610 shares during the quarter. Lazard Asset Management LLC’s holdings in Gilat Satellite Networks were worth $1,028,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Covestor Ltd purchased a new position in shares of Gilat Satellite Networks in the fourth quarter valued at about $29,000. Quarry LP purchased a new position in shares of Gilat Satellite Networks in the fourth quarter valued at about $68,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Gilat Satellite Networks in the fourth quarter valued at about $85,000. Boothbay Fund Management LLC purchased a new position in shares of Gilat Satellite Networks in the fourth quarter valued at about $86,000. Finally, Heron Bay Capital Management purchased a new position in shares of Gilat Satellite Networks in the fourth quarter valued at about $88,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Price Performance

Shares of NASDAQ GILT opened at $5.99 on Tuesday. Gilat Satellite Networks Ltd. has a 1 year low of $4.04 and a 1 year high of $8.05. 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’s 50-day moving average is $6.35 and its 200 day moving average is $6.38. The stock has a market capitalization of $341.53 million, a P/E ratio of 13.61 and a beta of 0.37.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings results on Monday, May 19th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. On average, sell-side analysts expect that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Wednesday, February 26th. StockNews.com cut shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 7th.

Gilat Satellite Networks 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.