Viasat (NASDAQ:VSAT) Shares Climb 7.7% – Still a Buy?

Viasat Inc. (NASDAQ:VSAT) rose 7.7% during mid-day trading on Monday. The company traded as high as $65.68 and last traded at $66.18. Approximately 228,304 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,047,488 shares. The stock had previously closed at $61.47.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on VSAT. Needham & Company LLC lifted their price objective on shares of Viasat from $90.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Morgan Stanley set a $95.00 target price on Viasat in a research report on Monday, August 10th. Zacks Research upgraded Viasat from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Wall Street Zen cut Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Oppenheimer started coverage on Viasat in a research note on Monday, June 29th. They set an “outperform” rating and a $140.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

Viasat Price Performance

The firm has a market capitalization of $9.34 billion, a PE ratio of -281.80 and a beta of 1.76. The firm’s fifty day moving average price is $70.53 and its 200 day moving average price is $70.69. The company has a current ratio of 1.68, a quick ratio of 1.52 and a debt-to-equity ratio of 1.23.

Viasat (NASDAQ:VSAT) last issued its earnings results on Tuesday, August 4th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Viasat had a negative net margin of 0.64% and a positive return on equity of 1.44%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 earnings per share. As a group, equities analysts forecast that Viasat Inc. will post -0.38 earnings per share for the current year.

Insider Activity at Viasat

In other Viasat news, SVP Benjamin Palmer sold 2,000 shares of Viasat stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $69.87, for a total transaction of $139,740.00. Following the completion of the transaction, the senior vice president owned 28,087 shares in the company, valued at approximately $1,962,438.69. This trade represents a 6.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Craig Miller sold 11,893 shares of the business’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $71.61, for a total value of $851,657.73. Following the completion of the transaction, the senior vice president directly owned 41,570 shares of the company’s stock, valued at approximately $2,976,827.70. This trade represents a 22.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 257,656 shares of company stock worth $20,475,905 in the last three months. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VSAT. Fifth Third Wealth Advisors LLC lifted its holdings in Viasat by 54.2% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,607 shares of the communications equipment provider’s stock valued at $254,000 after acquiring an additional 1,268 shares during the period. Inspire Investing LLC grew its stake in shares of Viasat by 72.9% during the 3rd quarter. Inspire Investing LLC now owns 13,396 shares of the communications equipment provider’s stock worth $943,000 after purchasing an additional 5,647 shares during the period. Root Financial Partners LLC purchased a new position in shares of Viasat during the 3rd quarter valued at approximately $38,000. Crossmark Global Holdings Inc. increased its holdings in shares of Viasat by 34.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 6,766 shares of the communications equipment provider’s stock valued at $476,000 after purchasing an additional 1,722 shares in the last quarter. Finally, SummerHaven Investment Management LLC acquired a new position in shares of Viasat in the 3rd quarter valued at $3,607,000. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

Viasat Company Profile

Viasat, Inc is a communications technology company that provides satellite-based connectivity and related services to commercial, government and consumer customers. The company’s offerings include high-speed broadband, satellite communications, network services and connectivity solutions designed for locations where terrestrial networks may be limited or unavailable.

Viasat serves the aviation, maritime, residential broadband, enterprise and government markets. Its services support in-flight internet for commercial and business aircraft, connectivity for ships and offshore operations, broadband access for homes and communities, and secure communications for government and defense customers.