Gilat Satellite Networks (NASDAQ:GILT) Rating Reiterated by Needham & Company LLC

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They presently have a $8.50 price objective on the communications equipment provider’s stock. Needham & Company LLC’s price objective indicates a potential upside of 52.60% from the company’s previous close.

Separately, StockNews.com lowered shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 15th.

Gilat Satellite Networks Stock Performance

Shares of NASDAQ GILT traded down $0.01 during midday trading on Thursday, hitting $5.57. The company’s stock had a trading volume of 113,282 shares, compared to its average volume of 163,685. Gilat Satellite Networks has a one year low of $4.95 and a one year high of $7.16. The firm has a market capitalization of $317.58 million, a price-to-earnings ratio of 13.29 and a beta of 0.60. The company has a current ratio of 1.90, a quick ratio of 1.60 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $5.53 and a 200 day moving average price of $5.96.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Monday, February 26th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Gilat Satellite Networks had a return on equity of 7.42% and a net margin of 8.83%. The company had revenue of $75.61 million for the quarter.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its stake in Gilat Satellite Networks by 17.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 20,404 shares of the communications equipment provider’s stock worth $131,000 after purchasing an additional 2,999 shares during the period. Citigroup Inc. grew its holdings in shares of Gilat Satellite Networks by 10.8% in the third quarter. Citigroup Inc. now owns 36,384 shares of the communications equipment provider’s stock worth $234,000 after acquiring an additional 3,533 shares during the period. Jump Financial LLC boosted its holdings in shares of Gilat Satellite Networks by 37.7% in the fourth quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock worth $102,000 after buying an additional 4,567 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Gilat Satellite Networks by 150.5% during the fourth quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock valued at $48,000 after purchasing an additional 4,733 shares during the period. Finally, New York State Common Retirement Fund purchased a new stake in Gilat Satellite Networks in the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 35.72% of the company’s stock.

About Gilat Satellite Networks

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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.