Viasat (NASDAQ:VSAT) Sets New 12-Month High – Time to Buy?

Viasat Inc. (NASDAQ:VSAT)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $75.18 and last traded at $74.0080, with a volume of 474778 shares changing hands. The stock had previously closed at $70.95.

Analyst Ratings Changes

VSAT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised shares of Viasat from a “hold” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $48.00 in a research report on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viasat in a research note on Monday, April 20th. B. Riley Financial increased their price objective on shares of Viasat from $52.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Needham & Company LLC increased their price objective on shares of Viasat from $45.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 27th. Finally, Raymond James Financial set a $74.00 price objective on shares of Viasat and gave the company an “outperform” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $65.50.

Viasat Price Performance

The stock’s 50-day moving average is $57.15 and its 200 day moving average is $45.85. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.13 and a quick ratio of 1.90. The company has a market cap of $10.11 billion, a PE ratio of -28.83 and a beta of 1.66.

Insider Activity at Viasat

In related news, SVP Craig Andrew Miller sold 5,260 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $50.00, for a total transaction of $263,000.00. Following the completion of the sale, the senior vice president owned 21,252 shares of the company’s stock, valued at $1,062,600. This represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Benjamin Edward Palmer sold 2,400 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.21, for a total transaction of $110,904.00. Following the sale, the senior vice president directly owned 25,431 shares of the company’s stock, valued at $1,175,166.51. The trade was a 8.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,071 shares of company stock valued at $1,804,437 over the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Viasat

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brightline Capital Management LLC raised its holdings in shares of Viasat by 1.8% in the third quarter. Brightline Capital Management LLC now owns 2,036,000 shares of the communications equipment provider’s stock worth $59,655,000 after buying an additional 36,000 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Viasat in the third quarter worth $4,230,000. Hudson Bay Capital Management LP purchased a new position in shares of Viasat in the third quarter worth $7,325,000. Principal Financial Group Inc. raised its holdings in shares of Viasat by 52.5% in the third quarter. Principal Financial Group Inc. now owns 647,168 shares of the communications equipment provider’s stock worth $18,962,000 after buying an additional 222,690 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Viasat by 38.5% in the third quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider’s stock worth $108,808,000 after buying an additional 1,033,194 shares during the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

Viasat Company Profile

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.