AWM Investment Company Inc. Sells 112,276 Shares of Gilat Satellite Networks Ltd. $GILT

Key Points

• AWM Investment Company Inc. reduced its stake in Gilat Satellite Networks by 4.5%, holding 2,398,088 shares after selling 112,276 shares in the first quarter.
• Gilat Satellite Networks exceeded analyst earnings expectations by reporting $0.21 earnings per share for the last quarter, compared to the forecast of $0.04.
• Analysts have upgraded Gilat Satellite Networks to a "strong-buy" rating, with a new price target of $11.00 from Needham & Company, reflecting positive market sentiment.

AWM Investment Company Inc. cut its position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,398,088 shares of the communications equipment provider's stock after selling 112,276 shares during the quarter. Gilat Satellite Networks comprises about 2.1% of AWM Investment Company Inc.'s holdings, making the stock its 14th largest position. AWM Investment Company Inc. owned 4.21% of Gilat Satellite Networks worth $15,228,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of GILT. Royce & Associates LP bought a new position in shares of Gilat Satellite Networks in the first quarter valued at $4,434,000. Penn Capital Management Company LLC purchased a new position in Gilat Satellite Networks during the first quarter valued at approximately $2,755,000. Russell Investments Group Ltd. bought a new stake in Gilat Satellite Networks during the first quarter valued at approximately $558,000. LBP AM SA lifted its position in Gilat Satellite Networks by 22.3% during the first quarter. LBP AM SA now owns 424,697 shares of the communications equipment provider's stock valued at $2,697,000 after purchasing an additional 77,429 shares during the last quarter. Finally, Apis Capital Advisors LLC bought a new stake in Gilat Satellite Networks during the first quarter valued at approximately $444,000. 35.72% of the stock is currently owned by institutional investors and hedge funds.

Gilat Satellite Networks Price Performance

GILT traded up $0.08 during trading on Friday, reaching $9.97. 540,533 shares of the company traded hands, compared to its average volume of 667,690. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.17 and a current ratio of 1.50. Gilat Satellite Networks Ltd. has a 12-month low of $4.30 and a 12-month high of $10.09. The firm has a fifty day simple moving average of $8.32 and a 200 day simple moving average of $7.08. The company has a market cap of $570.38 million, a P/E ratio of 25.56 and a beta of 0.51.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.17. The business had revenue of $105.00 million during the quarter, compared to analyst estimates of $100.99 million. Gilat Satellite Networks had a net margin of 6.41% and a return on equity of 10.05%. On average, equities analysts forecast that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GILT. Zacks Research upgraded shares of Gilat Satellite Networks to a "strong-buy" rating in a report on Friday, August 8th. Wall Street Zen raised shares of Gilat Satellite Networks from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, Needham & Company LLC upped their target price on shares of Gilat Satellite Networks from $8.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $11.00.

Gilat Satellite Networks Profile

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. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.