Gilat Satellite Networks (NASDAQ:GILT) Reaches New 12-Month High – Should You Buy?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s share price hit a new 52-week high on Thursday . The stock traded as high as $15.25 and last traded at $15.1250, with a volume of 215502 shares traded. The stock had previously closed at $14.59.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. Wall Street Zen downgraded Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. Zacks Research downgraded Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $16.00 target price on shares of Gilat Satellite Networks in a report on Tuesday, November 25th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Gilat Satellite Networks presently has a consensus rating of “Hold” and an average price target of $16.00.

Gilat Satellite Networks Stock Performance

The company has a quick ratio of 1.45, a current ratio of 1.72 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $12.43 and a two-hundred day moving average price of $10.92. The stock has a market cap of $859.32 million, a P/E ratio of 36.64 and a beta of 0.64.

Gilat Satellite Networks (NASDAQ:GILT) last posted its earnings results on Wednesday, November 12th. The communications equipment provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.06. The company had revenue of $117.69 million during the quarter, compared to analysts’ expectations of $112.19 million. Gilat Satellite Networks had a net margin of 6.03% and a return on equity of 10.40%. On average, sell-side analysts forecast that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Gilat Satellite Networks by 188.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 59,527 shares of the communications equipment provider’s stock worth $775,000 after purchasing an additional 38,863 shares during the period. Worth Venture Partners LLC bought a new stake in shares of Gilat Satellite Networks during the 3rd quarter worth approximately $166,000. Public Employees Retirement System of Ohio purchased a new position in Gilat Satellite Networks during the 3rd quarter valued at $295,000. Numerai GP LLC bought a new position in Gilat Satellite Networks in the 3rd quarter valued at $233,000. Finally, Millennium Management LLC increased its stake in Gilat Satellite Networks by 40.7% in the third quarter. Millennium Management LLC now owns 20,215 shares of the communications equipment provider’s stock worth $263,000 after purchasing an additional 5,852 shares during the period. Hedge funds and other institutional investors own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.