Gilat Satellite Networks (NASDAQ:GILT) Sets New 1-Year High - Time to Buy?

Key Points

• Gilat Satellite Networks shares hit a new 52-week high of $14.80, significantly increasing from a prior close of $13.95, with a trading volume of 104,571 shares.
• Analyst ratings show mixed feedback: Needham & Company upgraded the stock to a "buy" with a price target raised to $11.00, while Zacks downgraded it to a "hold".
• The company reported quarterly earnings of $0.21 per share, exceeding estimates significantly, and generated revenue of $105 million, also above expectations.

Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $14.79 and last traded at $14.80, with a volume of 104571 shares changing hands. The stock had previously closed at $13.95.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Needham & Company LLC increased their price target on shares of Gilat Satellite Networks from $8.50 to $11.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Zacks Research downgraded shares of Gilat Satellite Networks from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Wall Street Zen raised shares of Gilat Satellite Networks from a "buy" rating to a "strong-buy" rating in a research note on Saturday, October 4th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Gilat Satellite Networks in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $11.00.

Gilat Satellite Networks Trading Up 5.6%

The company has a market capitalization of $842.73 million, a PE ratio of 37.75 and a beta of 0.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.50 and a quick ratio of 1.17. The company's fifty day moving average is $10.93 and its 200-day moving average is $8.09.

Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.17. The company had revenue of $105.00 million during the quarter, compared to the consensus estimate of $100.99 million. Gilat Satellite Networks had a net margin of 6.41% and a return on equity of 10.05%. On average, analysts anticipate that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

Several institutional investors and hedge funds have recently made changes to their positions in GILT. USA Financial Formulas acquired a new position in Gilat Satellite Networks during the third quarter valued at $39,000. Tidal Investments LLC lifted its position in Gilat Satellite Networks by 6.8% during the second quarter. Tidal Investments LLC now owns 66,474 shares of the communications equipment provider's stock valued at $471,000 after purchasing an additional 4,250 shares during the period. Marshall Wace LLP lifted its position in Gilat Satellite Networks by 1.6% during the second quarter. Marshall Wace LLP now owns 513,873 shares of the communications equipment provider's stock valued at $3,643,000 after purchasing an additional 8,105 shares during the period. Blue Bell Private Wealth Management LLC acquired a new position in Gilat Satellite Networks during the first quarter valued at $67,000. Finally, Yelin Lapidot Holdings Management Ltd. increased its holdings in Gilat Satellite Networks by 7.2% in the first quarter. Yelin Lapidot Holdings Management Ltd. now owns 181,549 shares of the communications equipment provider's stock valued at $1,153,000 after buying an additional 12,235 shares in the last quarter. 35.72% of the stock is currently owned by institutional investors and hedge funds.

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.

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