Gilat Satellite Networks (NASDAQ:GILT) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Gilat Satellite Networks (NASDAQ:GILT) from a buy rating to a hold rating in a research report report published on Saturday.

Several other equities analysts have also commented on the stock. Freedom Capital upgraded shares of Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gilat Satellite Networks in a research report on Monday, December 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of Gilat Satellite Networks in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Gilat Satellite Networks presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Gilat Satellite Networks Stock Down 0.2%

NASDAQ:GILT opened at $15.90 on Friday. The firm has a market capitalization of $909.64 million, a PE ratio of 48.18 and a beta of 0.82. Gilat Satellite Networks has a 52 week low of $5.30 and a 52 week high of $20.38. The company has a current ratio of 1.84, a quick ratio of 1.62 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average of $15.91 and a 200-day moving average of $13.30.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The business had revenue of $136.96 million during the quarter, compared to analyst estimates of $133.56 million. Gilat Satellite Networks had a return on equity of 10.36% and a net margin of 4.59%. Analysts predict that Gilat Satellite Networks will post 0.5 EPS for the current year.

Hedge Funds Weigh In On Gilat Satellite Networks

Several large investors have recently bought and sold shares of GILT. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Gilat Satellite Networks by 33.8% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 5,556,155 shares of the communications equipment provider’s stock worth $71,476,000 after acquiring an additional 1,402,035 shares during the period. First Wilshire Securities Management Inc. increased its stake in shares of Gilat Satellite Networks by 1.0% during the second quarter. First Wilshire Securities Management Inc. now owns 1,468,035 shares of the communications equipment provider’s stock valued at $10,408,000 after acquiring an additional 14,782 shares during the period. Royce & Associates LP raised its holdings in Gilat Satellite Networks by 12.4% during the third quarter. Royce & Associates LP now owns 1,198,560 shares of the communications equipment provider’s stock worth $15,605,000 after purchasing an additional 132,599 shares in the last quarter. Penserra Capital Management LLC lifted its position in Gilat Satellite Networks by 831.1% in the third quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock worth $15,533,000 after purchasing an additional 1,064,959 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in Gilat Satellite Networks by 62.6% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,091,053 shares of the communications equipment provider’s stock valued at $14,206,000 after purchasing an additional 419,843 shares in the last quarter. Institutional investors and hedge funds own 35.72% of the company’s stock.

Gilat Satellite Networks Company Profile

Gilat Satellite Networks is a leading provider of satellite-based broadband connectivity solutions, specializing in the design, development and deployment of ground segment equipment and network services. The company’s core offerings include Very Small Aperture Terminal (VSAT) modems and hub systems, network management software, and end-to-end satellite communication platforms. These technologies enable broadband Internet access, enterprise networking, and cellular backhaul in regions where terrestrial infrastructure is limited or non-existent.

Founded in 1987 and headquartered in Petah Tikva, Israel, Gilat has established a track record of innovation in satellite communications.