Gilat Satellite Networks' (GILT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT - Free Report) in a research note published on Tuesday,Benzinga reports. The brokerage currently has a $8.50 price objective on the communications equipment provider's stock.

Separately, Wall Street Zen downgraded Gilat Satellite Networks from a "strong-buy" rating to a "buy" rating in a report on Friday, March 7th.

Gilat Satellite Networks Price Performance

NASDAQ GILT traded down $0.16 during trading hours on Tuesday, reaching $5.48. 373,348 shares of the stock traded hands, compared to its average volume of 303,821. The stock has a 50 day simple moving average of $6.26 and a two-hundred day simple moving average of $6.38. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $8.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.52 and a quick ratio of 2.14. The company has a market cap of $312.45 million, a price-to-earnings ratio of 12.45 and a beta of 0.37.

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

Hedge Funds Weigh In On Gilat Satellite Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royce & Associates LP purchased a new stake in shares of Gilat Satellite Networks in the 1st quarter worth $4,434,000. Penn Capital Management Company LLC purchased a new stake in shares of Gilat Satellite Networks in the 1st quarter worth $2,755,000. LBP AM SA increased its stake in shares of Gilat Satellite Networks by 83.9% in the 4th quarter. LBP AM SA now owns 347,268 shares of the communications equipment provider's stock worth $2,136,000 after purchasing an additional 158,468 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Gilat Satellite Networks in the 4th quarter worth $864,000. Finally, Acadian Asset Management LLC increased its stake in shares of Gilat Satellite Networks by 24.3% in the 1st quarter. Acadian Asset Management LLC now owns 638,854 shares of the communications equipment provider's stock worth $4,044,000 after purchasing an additional 124,794 shares in the last quarter. 35.72% of the stock is owned by institutional investors.

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.