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

Needham & Company LLC reiterated their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a report issued on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $8.50 target price on the communications equipment provider’s stock.

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

Gilat Satellite Networks Stock Performance

Shares of GILT stock opened at $7.11 on Wednesday. The stock has a market cap of $405.39 million, a P/E ratio of 16.16 and a beta of 0.60. 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 company has a fifty day moving average price of $6.79 and a two-hundred day moving average price of $5.69. Gilat Satellite Networks has a one year low of $4.04 and a one year high of $8.05.

Gilat Satellite Networks (NASDAQ:GILT) last announced its quarterly earnings results on Wednesday, February 12th. The communications equipment provider reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Gilat Satellite Networks had a net margin of 8.14% and a return on equity of 9.74%. As a group, equities analysts predict that Gilat Satellite Networks will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Gilat Satellite Networks

Several large investors have recently modified their holdings of the stock. PharVision Advisers LLC bought a new position in shares of Gilat Satellite Networks in the fourth quarter valued at about $257,000. Tidal Investments LLC raised its position in shares of Gilat Satellite Networks by 3.4% in the fourth quarter. Tidal Investments LLC now owns 65,779 shares of the communications equipment provider’s stock valued at $405,000 after purchasing an additional 2,158 shares during the period. Lazard Asset Management LLC raised its position in shares of 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 purchasing an additional 64,610 shares during the period. Bank of America Corp DE increased its position in Gilat Satellite Networks by 83.4% during the fourth quarter. Bank of America Corp DE now owns 49,526 shares of the communications equipment provider’s stock worth $305,000 after acquiring an additional 22,515 shares during the period. Finally, Jane Street Group LLC bought a new position in Gilat Satellite Networks during the fourth quarter worth about $421,000. 35.72% of the stock is owned by institutional investors.

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. 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.