Royce & Associates LP Takes $4.43 Million Position in Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Key Points

• Royce & Associates LP has invested approximately $4.43 million in Gilat Satellite Networks, acquiring 698,300 shares of the company during the first quarter.
• Gilat Satellite Networks reported a net margin of 4.32% and earnings per share of $0.03 for the last quarter, missing analysts' expectations.
• Analysts have mixed ratings on Gilat, with one downgrade from a "buy" to a "hold" while another firm set a price target of $8.50.

Royce & Associates LP bought a new position in shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 698,300 shares of the communications equipment provider's stock, valued at approximately $4,434,000. Royce & Associates LP owned 1.22% of Gilat Satellite Networks at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GILT. Covestor Ltd acquired a new stake in Gilat Satellite Networks during the 4th quarter worth approximately $29,000. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Gilat Satellite Networks during the 1st quarter valued at $67,000. Quarry LP acquired a new position in shares of Gilat Satellite Networks in the fourth quarter valued at approximately $68,000. Boothbay Fund Management LLC acquired a new position in shares of Gilat Satellite Networks in the 4th quarter worth approximately $86,000. Finally, Ritholtz Wealth Management acquired a new stake in Gilat Satellite Networks in the 1st quarter valued at $111,000. Institutional investors own 35.72% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GILT. Wall Street Zen cut Gilat Satellite Networks from a "buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $8.50 price target on shares of Gilat Satellite Networks in a report on Tuesday, May 20th.

Gilat Satellite Networks Stock Down 0.3%

NASDAQ:GILT traded down $0.03 during mid-day trading on Thursday, reaching $7.52. The company's stock had a trading volume of 66,813 shares, compared to its average volume of 411,750. The firm has a market capitalization of $429.93 million, a PE ratio of 31.29 and a beta of 0.40. The company has a quick ratio of 1.06, a current ratio of 1.41 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $6.79 and a 200-day moving average of $6.72. Gilat Satellite Networks Ltd. has a 1 year low of $4.04 and a 1 year high of $8.55.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last announced its earnings results on Monday, May 19th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.04). Gilat Satellite Networks had a net margin of 4.32% and a return on equity of 8.16%. The business had revenue of $92.04 million for the quarter, compared to analysts' expectations of $100.67 million. Equities research analysts forecast that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current year.

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.