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

Gilat Satellite Networks (NASDAQ:GILTGet Free Report)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $20.00 price target on the communications equipment provider’s stock. Needham & Company LLC’s price target points to a potential upside of 32.98% from the company’s current price.

GILT has been the subject of a number of other research reports. Wall Street Zen downgraded Gilat Satellite Networks from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Freedom Capital downgraded Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Gilat Satellite Networks in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.00.

Read Our Latest Report on Gilat Satellite Networks

Gilat Satellite Networks Stock Down 22.0%

GILT stock opened at $15.04 on Tuesday. Gilat Satellite Networks has a fifty-two week low of $5.30 and a fifty-two week high of $20.38. The company’s 50 day moving average price is $15.23 and its 200 day moving average price is $12.74. The firm has a market capitalization of $860.47 million, a price-to-earnings ratio of 36.68 and a beta of 0.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.45 and a current ratio of 1.72.

Gilat Satellite Networks (NASDAQ:GILTGet Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. Gilat Satellite Networks had a net margin of 6.03% and a return on equity of 10.40%. The firm had revenue of $136.96 million during the quarter, compared to analysts’ expectations of $133.56 million. On average, equities research analysts anticipate that Gilat Satellite Networks will post 0.5 EPS for the current fiscal year.

Institutional Trading of Gilat Satellite Networks

Several hedge funds have recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Gilat Satellite Networks by 118.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,154,120 shares of the communications equipment provider’s stock valued at $51,992,000 after acquiring an additional 2,250,000 shares during the period. First Wilshire Securities Management Inc. lifted its position in Gilat Satellite Networks by 1.0% in 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 purchasing an additional 14,782 shares during the period. Royce & Associates LP boosted its stake in Gilat Satellite Networks by 12.4% during the 3rd quarter. Royce & Associates LP now owns 1,198,560 shares of the communications equipment provider’s stock valued at $15,605,000 after purchasing an additional 132,599 shares in the last quarter. Penserra Capital Management LLC increased its position in shares of Gilat Satellite Networks by 831.1% during 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. raised its stake in shares of Gilat Satellite Networks by 62.6% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider’s stock worth $14,206,000 after buying an additional 419,843 shares in the last quarter. Institutional investors own 35.72% of the company’s stock.

Key Gilat Satellite Networks News

Here are the key news stories impacting Gilat Satellite Networks this week:

Gilat Satellite Networks Company Profile

(Get Free Report)

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.

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