Viasat (NASDAQ:VSAT) Reaches New 1-Year High – Time to Buy?

Viasat Inc. (NASDAQ:VSAT)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $79.37 and last traded at $77.63, with a volume of 272328 shares traded. The stock had previously closed at $74.56.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Viasat in a report on Monday, April 20th. Barclays raised shares of Viasat from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $23.00 to $49.00 in a report on Wednesday, April 8th. Needham & Company LLC raised their target price on shares of Viasat from $45.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 27th. B. Riley Financial raised their target price on shares of Viasat from $52.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Viasat from a “hold” rating to a “buy” rating and raised their target price for the company from $36.00 to $48.00 in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.50.

Viasat Stock Up 8.8%

The company has a market cap of $11.02 billion, a P/E ratio of -31.32 and a beta of 1.66. The company has a current ratio of 2.13, a quick ratio of 1.90 and a debt-to-equity ratio of 1.35. The firm’s 50 day moving average price is $59.35 and its 200-day moving average price is $46.84.

Insider Activity at Viasat

In related news, SVP Benjamin Edward Palmer sold 2,400 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $46.21, for a total value of $110,904.00. Following the sale, the senior vice president directly owned 25,431 shares in the company, valued at $1,175,166.51. This trade represents a 8.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Robert James Blair sold 30,411 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $47.04, for a total transaction of $1,430,533.44. Following the completion of the sale, the senior vice president owned 38,108 shares in the company, valued at $1,792,600.32. This represents a 44.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 38,071 shares of company stock worth $1,804,437 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Viasat

A number of hedge funds have recently modified their holdings of VSAT. Valued Wealth Advisors LLC acquired a new stake in shares of Viasat in the 1st quarter valued at approximately $25,000. Hantz Financial Services Inc. raised its holdings in Viasat by 6,815.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 886 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in Viasat during the 4th quarter worth approximately $36,000. Los Angeles Capital Management LLC acquired a new stake in Viasat during the 4th quarter worth approximately $38,000. Finally, EFG International AG acquired a new stake in Viasat during the 4th quarter worth approximately $41,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

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.