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

Lazard Asset Management LLC lifted its holdings in Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) by 62.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,268 shares of the communications equipment provider's stock after purchasing an additional 64,610 shares during the period. 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 institutional investors and hedge funds have also modified their holdings of GILT. Covestor Ltd acquired a new stake in shares of Gilat Satellite Networks in the 4th quarter valued at $29,000. Quarry LP acquired a new stake in shares of Gilat Satellite Networks in the 4th quarter valued at $68,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Gilat Satellite Networks during the 4th quarter worth $85,000. Boothbay Fund Management LLC acquired a new position in Gilat Satellite Networks during the 4th quarter worth $86,000. Finally, Heron Bay Capital Management acquired a new position in Gilat Satellite Networks during the 4th quarter worth $88,000. Institutional investors and hedge funds own 35.72% of the company's stock.

Analysts Set New Price Targets

GILT has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Gilat Satellite Networks from a "buy" rating to a "hold" rating in a research report on Tuesday. Needham & Company LLC reissued a "buy" rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research report on Tuesday.

Gilat Satellite Networks Stock Performance

Gilat Satellite Networks stock traded down $0.22 on Thursday, reaching $5.64. 312,074 shares of the stock were exchanged, compared to its average volume of 301,628. The stock has a market cap of $321.58 million, a PE ratio of 12.82 and a beta of 0.37. The company has a current ratio of 2.52, a quick ratio of 2.14 and a debt-to-equity ratio of 0.01. Gilat Satellite Networks Ltd. has a twelve month low of $4.04 and a twelve month high of $8.05. The firm has a fifty day moving average price of $6.28 and a two-hundred day moving average price of $6.38.

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

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.