Gilat Satellite Networks (NASDAQ:GILT) Reaches New 12-Month High - Should You Buy?

Key Points

• Gilat Satellite Networks (NASDAQ:GILT) achieved a new 52-week high at $15.03 during trading, reflecting a notable surge from its previous close of $14.34.
• Analysts have mixed views on GILT, with Needham & Company raising its price target from $8.50 to $11.00, while Zacks Research downgraded its rating from "strong-buy" to "hold."
• The company reported a quarterly EPS of $0.21, exceeding estimates, with revenues of $105 million and expectations of 0.5 EPS for the current year.

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $15.03 and last traded at $14.88, with a volume of 428300 shares traded. The stock had previously closed at $14.34.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GILT shares. Needham & Company LLC increased their price objective on shares of Gilat Satellite Networks from $8.50 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Zacks Research lowered shares of Gilat Satellite Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Gilat Satellite Networks in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Gilat Satellite Networks from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 18th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $11.00.

Gilat Satellite Networks Stock Performance

The stock has a 50 day simple moving average of $11.62 and a 200 day simple moving average of $8.45. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.18. The stock has a market cap of $857.61 million, a P/E ratio of 38.40 and a beta of 0.58.

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

Hedge Funds Weigh In On Gilat Satellite Networks

Hedge funds and other institutional investors have recently modified their holdings of the business. CSM Advisors LLC acquired a new stake in shares of Gilat Satellite Networks during the 2nd quarter valued at $6,214,000. Royce & Associates LP acquired a new stake in shares of Gilat Satellite Networks during the 1st quarter valued at $4,434,000. Penn Capital Management Company LLC acquired a new stake in shares of Gilat Satellite Networks during the 1st quarter valued at $2,755,000. LBP AM SA boosted its holdings in shares of Gilat Satellite Networks by 33.3% during the 2nd quarter. LBP AM SA now owns 566,075 shares of the communications equipment provider's stock valued at $4,013,000 after acquiring an additional 141,378 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in shares of Gilat Satellite Networks during the 2nd quarter valued at $908,000. Institutional investors own 35.72% of the company's stock.

About Gilat Satellite Networks

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.

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