Needham & Company LLC Reiterates Buy Rating for Gilat Satellite Networks (NASDAQ:GILT)

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $8.50 price target on the communications equipment provider’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 19.21% from the company’s current price.

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

Gilat Satellite Networks Stock Down 2.6 %

GILT stock opened at $7.13 on Wednesday. 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 has a 52 week low of $4.04 and a 52 week high of $8.05. The stock has a market capitalization of $406.53 million, a PE ratio of 16.20 and a beta of 0.60. The firm has a 50 day moving average of $6.77 and a 200 day moving average of $5.68.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. Sell-side analysts forecast that Gilat Satellite Networks will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GILT. Tidal Investments LLC grew its position in Gilat Satellite Networks by 3.4% during the fourth quarter. Tidal Investments LLC now owns 65,779 shares of the communications equipment provider’s stock valued at $405,000 after buying an additional 2,158 shares during the period. PDT Partners LLC boosted its stake in shares of Gilat Satellite Networks by 8.4% during the 4th quarter. PDT Partners LLC now owns 29,758 shares of the communications equipment provider’s stock worth $183,000 after acquiring an additional 2,305 shares in the last quarter. Covestor Ltd purchased a new stake in shares of Gilat Satellite Networks during the 4th quarter worth about $29,000. BNP Paribas Financial Markets acquired a new stake in shares of Gilat Satellite Networks during the 3rd quarter valued at about $27,000. Finally, Foundry Partners LLC increased its stake in shares of Gilat Satellite Networks by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock valued at $4,396,000 after purchasing an additional 8,045 shares in the last quarter. 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.