Needham & Company LLC reaffirmed their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT – Free Report) in a research report report published on Monday morning, Benzinga reports. Needham & Company LLC currently has a $8.50 price objective on the communications equipment provider’s stock.
Separately, StockNews.com downgraded Gilat Satellite Networks from a strong-buy rating to a buy rating in a research report on Thursday, May 9th.
View Our Latest Analysis on GILT
Gilat Satellite Networks Trading Down 0.4 %
Gilat Satellite Networks (NASDAQ:GILT – Get Free Report) last issued its earnings results on Monday, February 26th. The communications equipment provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $75.61 million for the quarter. Gilat Satellite Networks had a net margin of 8.08% and a return on equity of 8.02%.
Institutional Investors Weigh In On Gilat Satellite Networks
Several hedge funds have recently modified their holdings of GILT. Raymond James Financial Services Advisors Inc. lifted its holdings in Gilat Satellite Networks by 17.2% during 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 buying an additional 2,999 shares during the period. Citigroup Inc. raised its position in shares of Gilat Satellite Networks by 10.8% in the 3rd 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 in the last quarter. Jump Financial LLC lifted its stake in shares of Gilat Satellite Networks by 37.7% during the 4th quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock worth $102,000 after purchasing an additional 4,567 shares during the last quarter. Quadrant Capital Group LLC boosted its position 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 in the last quarter. Finally, Quadrature Capital Ltd grew its stake in Gilat Satellite Networks by 19.6% in the first quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock valued at $184,000 after purchasing an additional 5,559 shares during 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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.
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