Viasat (NASDAQ:VSAT) Trading Up 8.9% - Should You Buy?

Key Points

• Viasat shares rose 8.9% on Tuesday, trading as high as $81.41 before last changing hands around $83.52, though volume was well below normal.
• Analyst sentiment remains broadly positive: several firms reiterated or initiated buy/outperform ratings, and the stock carries a Moderate Buy consensus with an average target price of $84.11.
• Recent results were mixed, with Viasat missing earnings and revenue estimates in its latest quarter, while insiders have been selling shares and the company has attracted heavy institutional ownership.

Viasat Inc. (NASDAQ:VSAT - Get Free Report)'s stock price traded up 8.9% on Tuesday . The stock traded as high as $81.41 and last traded at $83.5190. 384,182 shares traded hands during trading, a decline of 81% from the average session volume of 2,019,108 shares. The stock had previously closed at $76.69.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $97.00 price target on shares of Viasat in a research report on Monday, June 1st. Oppenheimer began coverage on shares of Viasat in a research note on Monday. They issued an "outperform" rating and a $140.00 target price on the stock. Raymond James Financial set a $74.00 target price on shares of Viasat and gave the stock an "outperform" rating in a report on Friday, April 24th. B. Riley Financial lifted their price target on shares of Viasat from $94.00 to $106.00 and gave the stock a "buy" rating in a research note on Friday, May 29th. Finally, New Street Research assumed coverage on shares of Viasat in a report on Wednesday, May 13th. They set a "buy" rating and a $100.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Viasat currently has an average rating of "Moderate Buy" and a consensus target price of $84.11.

Viasat Price Performance

The stock's 50 day moving average price is $68.35 and its 200-day moving average price is $52.91. The company has a quick ratio of 2.19, a current ratio of 2.41 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $11.42 billion, a PE ratio of -290.56 and a beta of 1.70.

Viasat (NASDAQ:VSAT - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.32 by ($0.34). The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.20 billion. Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The company's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.02) EPS. As a group, equities analysts forecast that Viasat Inc. will post -0.39 EPS for the current year.

Insider Buying and Selling at Viasat

In other news, Director John P. Stenbit sold 653 shares of Viasat stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total transaction of $46,846.22. Following the completion of the sale, the director owned 29,597 shares of the company's stock, valued at approximately $2,123,288.78. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Theresa Wise sold 2,500 shares of the business's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $69.00, for a total value of $172,500.00. Following the completion of the sale, the director owned 11,000 shares of the company's stock, valued at $759,000. The trade was a 18.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 438,275 shares of company stock valued at $28,608,719. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viasat

Several institutional investors have recently made changes to their positions in VSAT. Disciplined Growth Investors Inc. MN lifted its stake in Viasat by 15.8% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,845,100 shares of the communications equipment provider's stock worth $85,338,000 after acquiring an additional 796,349 shares during the period. Dimensional Fund Advisors LP increased its position in Viasat by 18.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,789,539 shares of the communications equipment provider's stock valued at $219,346,000 after purchasing an additional 738,656 shares during the period. American Century Companies Inc. raised its holdings in shares of Viasat by 38.5% in the 3rd quarter. American Century Companies Inc. now owns 3,713,581 shares of the communications equipment provider's stock valued at $108,808,000 after purchasing an additional 1,033,194 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Viasat by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 3,328,854 shares of the communications equipment provider's stock valued at $115,266,000 after purchasing an additional 273,369 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Viasat by 2,821.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,222,981 shares of the communications equipment provider's stock worth $111,065,000 after purchasing an additional 3,112,670 shares during the period. Hedge funds and other institutional investors own 86.05% of the company's stock.

Viasat Company Profile

Viasat, Inc NASDAQ: VSAT provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat's product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.

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