Gilat Satellite Networks (NASDAQ:GILT) Earns Buy Rating from Needham & Company LLC

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

A number of other equities research analysts also recently issued reports on GILT. StockNews.com raised shares of Gilat Satellite Networks from a “buy” rating to a “strong-buy” rating in a report on Friday, November 15th. William Blair started coverage on shares of Gilat Satellite Networks in a report on Thursday, September 26th. They issued an “outperform” rating for the company.

Gilat Satellite Networks Price Performance

Shares of NASDAQ GILT opened at $6.67 on Thursday. The stock has a fifty day moving average of $5.91 and a 200-day moving average of $5.16. The stock has a market cap of $380.32 million, a PE ratio of 23.00 and a beta of 0.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 2.17. Gilat Satellite Networks has a fifty-two week low of $4.04 and a fifty-two week high of $6.82.

Institutional Trading of Gilat Satellite Networks

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in shares of Gilat Satellite Networks by 2.3% during the second quarter. Renaissance Technologies LLC now owns 1,077,733 shares of the communications equipment provider’s stock worth $4,817,000 after purchasing an additional 24,204 shares in the last quarter. Foundry Partners LLC grew its stake in Gilat Satellite Networks by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 834,230 shares of the communications equipment provider’s stock worth $4,396,000 after buying an additional 8,045 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of Gilat Satellite Networks by 7.9% in the 3rd quarter. ARK Investment Management LLC now owns 434,963 shares of the communications equipment provider’s stock worth $2,292,000 after buying an additional 31,714 shares during the last quarter. Inspire Investing LLC purchased a new stake in shares of Gilat Satellite Networks during the 4th quarter valued at $864,000. Finally, Marshall Wace LLP lifted its holdings in shares of Gilat Satellite Networks by 410.2% during the 2nd quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider’s stock worth $578,000 after acquiring an additional 103,924 shares during the last quarter. Hedge funds and other institutional investors own 35.72% of the company’s stock.

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. Its portfolio consists of cloud-based satellite network platform, very small aperture terminals, amplifiers, modems, on-the-move antennas, solid state power amplifiers, block upconverters, transceivers, and defense ground systems and field services.