Gilat Satellite Networks' (GILT) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT - Free Report) in a research report report published on Wednesday,Benzinga reports. The firm currently has a $8.50 price target on the communications equipment provider's stock.

Separately, StockNews.com raised Gilat Satellite Networks from a "buy" rating to a "strong-buy" rating in a research report on Friday, November 15th.

Gilat Satellite Networks Trading Down 0.3 %

NASDAQ GILT traded down $0.02 during trading hours on Wednesday, hitting $7.11. The company's stock had a trading volume of 406,500 shares, compared to its average volume of 489,287. The stock has a fifty day moving average of $6.82 and a 200 day moving average of $5.71. Gilat Satellite Networks has a twelve month low of $4.04 and a twelve month high of $8.05. The firm has a market capitalization of $405.39 million, a P/E ratio of 16.16 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.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Foundry Partners LLC raised its stake in Gilat Satellite Networks by 9.0% in the fourth quarter. Foundry Partners LLC now owns 909,490 shares of the communications equipment provider's stock valued at $5,593,000 after buying an additional 75,260 shares during the period. ARK Investment Management LLC raised its stake in 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 during the period. LBP AM SA raised its stake in Gilat Satellite Networks by 83.9% in the fourth quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider's stock valued at $2,136,000 after buying an additional 158,468 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Gilat Satellite Networks by 43.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 215,597 shares of the communications equipment provider's stock valued at $1,329,000 after buying an additional 65,374 shares during the period. Finally, Lazard Asset Management LLC raised its stake in Gilat Satellite Networks by 62.9% in the fourth quarter. Lazard Asset Management LLC now owns 167,268 shares of the communications equipment provider's stock valued at $1,028,000 after buying an additional 64,610 shares during the period. 35.72% of the stock is owned by institutional investors and hedge funds.

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.