StockNews.com lowered shares of Gilat Satellite Networks (NASDAQ:GILT – Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Monday.
Separately, Needham & Company LLC reissued a buy rating and issued a $8.50 price target on shares of Gilat Satellite Networks in a research note on Monday.
View Our Latest Stock Report on Gilat Satellite Networks
Gilat Satellite Networks Price Performance
Gilat Satellite Networks (NASDAQ:GILT – Get Free Report) last issued its quarterly earnings results on Monday, February 26th. The communications equipment provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Gilat Satellite Networks had a return on equity of 8.02% and a net margin of 8.08%. The company had revenue of $75.61 million for the quarter.
Institutional Trading of Gilat Satellite Networks
Several institutional investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its holdings in Gilat Satellite Networks by 17.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 20,404 shares of the communications equipment provider’s stock valued at $131,000 after acquiring an additional 2,999 shares during the last quarter. Citigroup Inc. increased its position in Gilat Satellite Networks by 10.8% during the 3rd quarter. Citigroup Inc. now owns 36,384 shares of the communications equipment provider’s stock worth $234,000 after purchasing an additional 3,533 shares in the last quarter. Jump Financial LLC raised its holdings in Gilat Satellite Networks by 37.7% in the fourth quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock valued at $102,000 after buying an additional 4,567 shares during the period. Quadrant Capital Group LLC raised its holdings in Gilat Satellite Networks by 150.5% in the fourth quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock valued at $48,000 after buying an additional 4,733 shares during the period. Finally, Quadrature Capital Ltd lifted its position in Gilat Satellite Networks by 19.6% during the first quarter. Quadrature Capital Ltd now owns 33,937 shares of the communications equipment provider’s stock valued at $184,000 after buying an additional 5,559 shares in the last quarter. 35.72% of the stock is owned by hedge funds and other 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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.
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