Needham & Company LLC Reaffirms “Buy” Rating for Gilat Satellite Networks (NASDAQ:GILT)

Needham & Company LLC reiterated their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a research report sent to investors on Monday morning, Benzinga reports. Needham & Company LLC currently has a $8.50 price target on the communications equipment provider’s stock.

Separately, StockNews.com cut Gilat Satellite Networks from a strong-buy rating to a buy rating in a report on Thursday, May 9th.

Gilat Satellite Networks Trading Down 0.9 %

Shares of GILT stock opened at $5.24 on Monday. The business’s 50 day moving average is $5.48 and its two-hundred day moving average is $5.92. Gilat Satellite Networks has a twelve month low of $4.95 and a twelve month high of $7.16. The company has a market capitalization of $298.78 million, a P/E ratio of 12.78 and a beta of 0.60. The company has a current ratio of 2.00, a quick ratio of 1.66 and a debt-to-equity ratio of 0.01.

Gilat Satellite Networks (NASDAQ:GILT) last announced its earnings results on Monday, February 26th. The communications equipment provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. The company had revenue of $75.61 million for the quarter. Gilat Satellite Networks had a return on equity of 8.02% and a net margin of 8.08%.

Institutional Trading of Gilat Satellite Networks

Several hedge funds have recently modified their holdings of GILT. Quadrant Capital Group LLC lifted its holdings in shares of Gilat Satellite Networks by 150.5% in the 4th quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock valued at $48,000 after buying an additional 4,733 shares during the period. New York State Common Retirement Fund acquired a new position in Gilat Satellite Networks during the fourth quarter worth $48,000. Jump Financial LLC raised its holdings in Gilat Satellite Networks by 37.7% during the fourth quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock worth $102,000 after purchasing an additional 4,567 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Gilat Satellite Networks by 17.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 20,404 shares of the communications equipment provider’s stock worth $131,000 after purchasing an additional 2,999 shares during the last quarter. Finally, Quadrature Capital Ltd raised its holdings in Gilat Satellite Networks by 129.3% during the fourth quarter. Quadrature Capital Ltd now owns 28,378 shares of the communications equipment provider’s stock worth $174,000 after purchasing an additional 16,004 shares during the last quarter. 35.72% of the stock is 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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.