Lazard Asset Management LLC Has $1.03 Million Holdings in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Lazard Asset Management LLC increased its holdings in Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 62.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 167,268 shares of the communications equipment provider's stock after purchasing an additional 64,610 shares during the quarter. Lazard Asset Management LLC owned 0.29% of Gilat Satellite Networks worth $1,028,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Covestor Ltd acquired a new stake in shares of Gilat Satellite Networks during the 4th quarter valued at $29,000. Quarry LP purchased a new stake in shares of Gilat Satellite Networks in the fourth quarter valued at about $68,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Gilat Satellite Networks during the fourth quarter worth about $85,000. Boothbay Fund Management LLC purchased a new stake in Gilat Satellite Networks during the 4th quarter valued at approximately $86,000. Finally, Heron Bay Capital Management acquired a new stake in shares of Gilat Satellite Networks in the 4th quarter worth $88,000. 35.72% of the stock is currently owned by institutional investors and hedge funds.

Gilat Satellite Networks Price Performance

Shares of NASDAQ:GILT traded down $0.16 during trading on Friday, reaching $5.48. 373,348 shares of the company traded hands, compared to its average volume of 303,821. The company has a quick ratio of 2.14, a current ratio of 2.52 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $312.45 million, a PE ratio of 12.45 and a beta of 0.37. The company's 50 day moving average is $6.26 and its two-hundred day moving average is $6.39. Gilat Satellite Networks Ltd. has a 52 week low of $4.04 and a 52 week high of $8.05.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its quarterly earnings results on Monday, May 19th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). Gilat Satellite Networks had a return on equity of 9.74% and a net margin of 8.14%. The firm had revenue of $92.04 million for the quarter, compared to analyst estimates of $100.67 million. As a group, sell-side analysts predict that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GILT shares. Wall Street Zen cut shares of Gilat Satellite Networks from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Needham & Company LLC reissued a "buy" rating and set a $8.50 price objective on shares of Gilat Satellite Networks in a research report on Tuesday, May 20th.

Gilat Satellite Networks Company 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.