Viasat (NASDAQ:VSAT) Sets New 52-Week High – Here’s What Happened

Shares of Viasat Inc. (NASDAQ:VSAT) hit a new 52-week high during trading on Wednesday . The company traded as high as $89.95 and last traded at $89.81, with a volume of 6364077 shares. The stock had previously closed at $76.69.

Trending Headlines about Viasat

Here are the key news stories impacting Viasat this week:

• Positive Sentiment: Viasat partnered with Magnite to bring programmatic advertising to in-flight Wi-Fi, creating a new monetization opportunity for its connectivity platform. Viasat (VSAT) Partners With Magnite To Bring Programmatic Ads To In Flight Wi Fi
• Positive Sentiment: Investors are reacting to recent U.S. Space Force contract wins, which strengthen Viasat’s secure satellite communications business and support a more bullish outlook for defense-related revenue. Viasat stock jumps as Space Force wins fuel bullish analyst outlook
• Positive Sentiment: Oppenheimer initiated coverage with an Outperform rating and a $140 price target, signaling meaningful upside from recent trading levels and helping fuel the rally. Finviz coverage reference
• Positive Sentiment: Options activity surged, with traders buying far more call options than usual, a sign that some market participants are betting on continued upside in VSAT.
• Neutral Sentiment: Analysts are debating Viasat’s long-term role in the satellite spectrum market, and commentary around the Rocket Lab-Iridium deal has added attention to the sector, though the direct impact on Viasat is less certain. VSAT stock clocks best day in over 10 months
• Negative Sentiment: Some recent commentary urged investors to sell VSAT, suggesting not all market participants are convinced the rally is sustainable. 3 reasons to sell VSAT and 1 stock to buy instead

Wall Street Analyst Weigh In

VSAT has been the topic of a number of analyst reports. Raymond James Financial set a $74.00 target price on Viasat and gave the stock an “outperform” rating in a research report on Friday, April 24th. Barclays set a $49.00 price target on Viasat in a report on Friday, May 29th. New Street Research started coverage on Viasat in a report on Wednesday, May 13th. They set a “buy” rating and a $100.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viasat in a research report on Monday, April 20th. Finally, Needham & Company LLC increased their target price on Viasat from $58.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Viasat has an average rating of “Moderate Buy” and a consensus price target of $84.11.

Viasat Stock Up 17.1%

The firm has a market cap of $12.27 billion, a P/E ratio of -309.69 and a beta of 1.71. The firm’s 50-day moving average price is $68.89 and its 200 day moving average price is $53.28. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data 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 negative net margin of 0.73% and a positive return on equity of 1.58%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm earned ($0.02) earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that Viasat Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Viasat

In other Viasat news, Director Richard A. Baldridge sold 27,122 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total transaction of $1,945,732.28. Following the sale, the director directly owned 213,355 shares of the company’s stock, valued at approximately $15,306,087.70. This represents a 11.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark D. Dankberg sold 400,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $64.76, for a total transaction of $25,904,000.00. Following the completion of the transaction, the chief executive officer owned 1,082,196 shares in the company, valued at approximately $70,083,012.96. The trade was a 26.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 438,275 shares of company stock worth $28,608,719. 2.20% of the stock is owned by insiders.

Institutional Trading of Viasat

Institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in Viasat by 2,821.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider’s stock valued at $111,065,000 after purchasing an additional 3,112,670 shares during the period. Millennium Management LLC lifted its stake in Viasat by 673.7% in the first quarter. Millennium Management LLC now owns 1,386,089 shares of the communications equipment provider’s stock valued at $14,443,000 after buying an additional 1,206,935 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Viasat by 64.9% during the first quarter. Goldman Sachs Group Inc. now owns 2,866,242 shares of the communications equipment provider’s stock valued at $29,866,000 after acquiring an additional 1,128,338 shares during the period. American Century Companies Inc. grew its position in shares of Viasat by 38.5% during the third quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider’s stock worth $108,808,000 after acquiring an additional 1,033,194 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Viasat by 43.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,307,187 shares of the communications equipment provider’s stock worth $96,890,000 after acquiring an additional 1,002,737 shares during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.

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.