Gilat Satellite Networks (NASDAQ:GILT) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $8.50 target price on the communications equipment provider’s stock.

Separately, StockNews.com upgraded Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th.

Gilat Satellite Networks Stock Performance

NASDAQ:GILT opened at $7.32 on Wednesday. Gilat Satellite Networks has a fifty-two week low of $4.04 and a fifty-two week high of $8.05. The firm’s 50 day moving average is $6.74 and its two-hundred day moving average is $5.67. The company has a market cap of $417.36 million, a P/E ratio of 16.64 and a beta of 0.60. The company has a quick ratio of 2.14, a current ratio of 2.52 and a debt-to-equity ratio of 0.01.

Gilat Satellite Networks (NASDAQ:GILT) last issued its earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. Analysts expect that Gilat Satellite Networks will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Gilat Satellite Networks

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its holdings in Gilat Satellite Networks by 60.9% in the 3rd quarter. Van ECK Associates Corp now owns 35,984 shares of the communications equipment provider’s stock valued at $175,000 after purchasing an additional 13,625 shares in the last quarter. ARK Investment Management LLC grew its stake in shares of Gilat Satellite Networks by 7.9% in the third quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock valued at $2,292,000 after buying an additional 31,714 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Gilat Satellite Networks in the third quarter valued at about $140,000. Foundry Partners LLC raised its holdings in shares of Gilat Satellite Networks by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock valued at $4,396,000 after buying an additional 8,045 shares during the period. Finally, BNP Paribas Financial Markets acquired a new position in Gilat Satellite Networks during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds 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.