Gilat Satellite Networks (NASDAQ:GILT) Earns “Buy” Rating from Needham & Company LLC

Gilat Satellite Networks (NASDAQ:GILT)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued 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 15.65% from the company’s previous close.

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 1.2 %

Shares of NASDAQ:GILT opened at $7.35 on Wednesday. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $8.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.52 and a quick ratio of 2.14. The stock’s 50-day moving average is $6.71 and its 200 day moving average is $5.65. The company has a market cap of $419.07 million, a PE ratio of 16.70 and a beta of 0.60.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data 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%. Sell-side analysts anticipate that Gilat Satellite Networks will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Gilat Satellite Networks

Several institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its position 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 worth $175,000 after purchasing an additional 13,625 shares during the period. ARK Investment Management LLC raised its holdings 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 worth $2,292,000 after purchasing an additional 31,714 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Gilat Satellite Networks during the 3rd quarter valued at $140,000. Foundry Partners LLC grew its stake in shares of Gilat Satellite Networks by 1.0% during the third quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock worth $4,396,000 after acquiring an additional 8,045 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Gilat Satellite Networks during the 3rd quarter valued at about $27,000. 35.72% of the stock is owned by institutional investors.

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.