Gilat Satellite Networks (NASDAQ:GILT) Reaches New 1-Year High – Time to Buy?

Gilat Satellite Networks Ltd. (NASDAQ:GILT)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.89 and last traded at $17.08, with a volume of 1580333 shares traded. The stock had previously closed at $17.07.

Analysts Set New Price Targets

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

Gilat Satellite Networks Stock Up 0.1%

The stock has a market capitalization of $977.18 million, a P/E ratio of 41.66 and a beta of 0.64. The firm’s fifty day moving average is $12.59 and its 200-day moving average is $11.21. The company has a current ratio of 1.72, a quick ratio of 1.45 and a debt-to-equity ratio of 0.14.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data 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. Gilat Satellite Networks had a net margin of 6.03% and a return on equity of 10.40%. The firm had revenue of $117.69 million during the quarter, compared to analysts’ expectations of $112.19 million. As a group, equities research analysts predict that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd boosted its stake in Gilat Satellite Networks by 118.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,154,120 shares of the communications equipment provider’s stock worth $51,992,000 after acquiring an additional 2,250,000 shares during the last quarter. First Wilshire Securities Management Inc. lifted its holdings in Gilat Satellite Networks by 1.0% during the second quarter. First Wilshire Securities Management Inc. now owns 1,468,035 shares of the communications equipment provider’s stock worth $10,408,000 after acquiring an additional 14,782 shares in the last quarter. Royce & Associates LP raised its position in shares of Gilat Satellite Networks by 12.4% during the third quarter. Royce & Associates LP now owns 1,198,560 shares of the communications equipment provider’s stock worth $15,605,000 after purchasing an additional 132,599 shares during the period. Penserra Capital Management LLC grew its position in shares of Gilat Satellite Networks by 831.1% in the 3rd quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock valued at $15,533,000 after purchasing an additional 1,064,959 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in Gilat Satellite Networks by 62.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider’s stock valued at $14,206,000 after buying an additional 419,843 shares in the last quarter. 35.72% of the stock is currently owned by institutional investors.

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.