Needham & Company LLC Reaffirms Hold Rating for ViaSat Inc. (VSAT)
ViaSat Inc. (NASDAQ:VSAT)‘s stock had its “hold” rating restated by analysts at Needham & Company LLC in a research note issued on Wednesday.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of ViaSat from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Monday. B. Riley reissued a “buy” rating and issued a $89.00 price target on shares of ViaSat in a report on Sunday, August 14th. Finally, Jefferies Group began coverage on shares of ViaSat in a report on Monday, August 1st. They issued a “hold” rating and a $85.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $73.80.
ViaSat (NASDAQ:VSAT) traded up 1.11% on Wednesday, hitting $73.54. 77,659 shares of the stock were exchanged. ViaSat has a 12 month low of $56.02 and a 12 month high of $79.15. The company has a 50-day moving average of $74.41 and a 200-day moving average of $73.41. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 171.82 and a beta of 0.97.
ViaSat (NASDAQ:VSAT) last issued its earnings results on Tuesday, August 9th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by $0.03. The business earned $363.10 million during the quarter, compared to analysts’ expectations of $371.89 million. ViaSat had a return on equity of 2.59% and a net margin of 1.46%. ViaSat’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 EPS. On average, equities analysts predict that ViaSat will post $1.20 EPS for the current year.
In other news, Director John P. Stenbit sold 700 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $73.64, for a total transaction of $51,548.00. Following the completion of the transaction, the director now directly owns 7,100 shares of the company’s stock, valued at $522,844. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Richard A. Baldridge sold 2,512 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $75.02, for a total transaction of $188,450.24. Following the transaction, the chief operating officer now directly owns 2,512 shares of the company’s stock, valued at $188,450.24. The disclosure for this sale can be found here. 9.70% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in VSAT. State Street Corp raised its stake in shares of ViaSat by 55.5% in the second quarter. State Street Corp now owns 1,424,054 shares of the company’s stock valued at $101,676,000 after buying an additional 508,454 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of ViaSat by 21.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,316,052 shares of the company’s stock valued at $93,966,000 after buying an additional 232,323 shares during the period. Cove Street Capital LLC raised its stake in shares of ViaSat by 26.5% in the second quarter. Cove Street Capital LLC now owns 652,403 shares of the company’s stock valued at $46,581,000 after buying an additional 136,530 shares during the period. 1832 Asset Management L.P. raised its stake in shares of ViaSat by 29.9% in the second quarter. 1832 Asset Management L.P. now owns 558,993 shares of the company’s stock valued at $40,176,000 after buying an additional 128,817 shares during the period. Finally, BlackRock Investment Management LLC raised its stake in shares of ViaSat by 64.8% in the second quarter. BlackRock Investment Management LLC now owns 278,636 shares of the company’s stock valued at $19,895,000 after buying an additional 109,512 shares during the period. 94.53% of the stock is owned by hedge funds and other institutional investors.
ViaSat Company Profile
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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