Gilat Satellite Networks (NASDAQ:GILT) Hits New 1-Year High – Still a Buy?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s share price reached a new 52-week high on Thursday . The company traded as high as $15.25 and last traded at $15.1250, with a volume of 215502 shares trading hands. The stock had previously closed at $14.59.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen downgraded Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gilat Satellite Networks in a report on Monday, December 29th. Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Gilat Satellite Networks in a report on Tuesday, November 25th. Finally, Zacks Research downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.00.

Gilat Satellite Networks Trading Up 0.3%

The business’s 50-day moving average price is $12.46 and its 200-day moving average price is $11.01. The firm has a market capitalization of $861.58 million, a PE ratio of 36.73 and a beta of 0.64. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.45.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings results on Wednesday, November 12th. The communications equipment provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. Gilat Satellite Networks had a net margin of 6.03% and a return on equity of 10.40%. The firm had revenue of $117.69 million during the quarter, compared to the consensus estimate of $112.19 million. As a group, analysts expect that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of hedge funds and other institutional investors have recently made changes to their positions in GILT. Assenagon Asset Management S.A. purchased a new stake in Gilat Satellite Networks during the 4th quarter valued at approximately $1,693,000. JPMorgan Chase & Co. raised its stake in shares of Gilat Satellite Networks by 188.1% during the third quarter. JPMorgan Chase & Co. now owns 59,527 shares of the communications equipment provider’s stock worth $775,000 after purchasing an additional 38,863 shares during the last quarter. Worth Venture Partners LLC acquired a new stake in shares of Gilat Satellite Networks during the third quarter worth $166,000. Public Employees Retirement System of Ohio purchased a new position in Gilat Satellite Networks in the 3rd quarter valued at $295,000. Finally, Numerai GP LLC acquired a new position in Gilat Satellite Networks in the 3rd quarter valued at $233,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.