Gilat Satellite Networks (NASDAQ:GILT) Price Target Raised to $16.00 at Needham & Company LLC

Gilat Satellite Networks (NASDAQ:GILT) had its price objective lifted by Needham & Company LLC from $11.00 to $16.00 in a research report report published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the communications equipment provider’s stock.

GILT has been the topic of a number of other research reports. 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gilat Satellite Networks in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.00.

Gilat Satellite Networks Stock Down 3.8%

Shares of NASDAQ:GILT traded down $0.47 on Thursday, reaching $11.77. The company had a trading volume of 1,080,864 shares, compared to its average volume of 591,581. The firm has a market capitalization of $673.39 million, a PE ratio of 30.18 and a beta of 0.62. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18. Gilat Satellite Networks has a 52-week low of $4.86 and a 52-week high of $15.24. The firm’s 50 day simple moving average is $12.93 and its 200-day simple moving average is $9.29.

Gilat Satellite Networks (NASDAQ:GILT) last issued its quarterly earnings data on Wednesday, November 12th. The communications equipment provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Gilat Satellite Networks had a return on equity of 10.05% and a net margin of 6.41%.The company had revenue of $117.69 million for the quarter, compared to the consensus estimate of $112.19 million. Gilat Satellite Networks has set its FY 2025 guidance at EPS. As a group, analysts expect that Gilat Satellite Networks will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Gilat Satellite Networks

Large investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new position in shares of Gilat Satellite Networks in the third quarter valued at about $26,000. USA Financial Formulas acquired a new position in Gilat Satellite Networks in the 3rd quarter worth approximately $39,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Gilat Satellite Networks during the 3rd quarter worth approximately $64,000. McIlrath & Eck LLC lifted its stake in Gilat Satellite Networks by 383.1% during the 3rd quarter. McIlrath & Eck LLC now owns 5,783 shares of the communications equipment provider’s stock valued at $75,000 after acquiring an additional 4,586 shares during the period. Finally, Assetmark Inc. acquired a new stake in Gilat Satellite Networks during the 3rd quarter valued at approximately $76,000. Hedge funds and other 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.