Gilat Satellite Networks (NASDAQ:GILT) Downgraded by StockNews.com to “Buy”

StockNews.com lowered shares of Gilat Satellite Networks (NASDAQ:GILT) from a strong-buy rating to a buy rating in a report released on Monday.

Separately, Needham & Company LLC restated a buy rating and set a $8.50 target price on shares of Gilat Satellite Networks in a research note on Monday.

Gilat Satellite Networks Price Performance

Shares of GILT opened at $5.24 on Monday. The company has a market cap of $298.78 million, a price-to-earnings ratio of 12.78 and a beta of 0.60. The company has a current ratio of 2.00, a quick ratio of 1.66 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $5.48 and its 200 day simple moving average is $5.92. Gilat Satellite Networks has a 1-year low of $4.95 and a 1-year high of $7.16.

Gilat Satellite Networks (NASDAQ:GILT) last released its quarterly earnings data on Monday, February 26th. The communications equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The firm had revenue of $75.61 million for the quarter. Gilat Satellite Networks had a return on equity of 8.02% and a net margin of 8.08%.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of large investors have recently made changes to their positions in GILT. Quadrant Capital Group LLC boosted its holdings in Gilat Satellite Networks by 150.5% in the 4th quarter. Quadrant Capital Group LLC now owns 7,877 shares of the communications equipment provider’s stock valued at $48,000 after purchasing an additional 4,733 shares during the period. New York State Common Retirement Fund bought a new stake in shares of Gilat Satellite Networks in the fourth quarter valued at approximately $48,000. Jump Financial LLC increased its stake in Gilat Satellite Networks by 37.7% during the 4th quarter. Jump Financial LLC now owns 16,667 shares of the communications equipment provider’s stock worth $102,000 after acquiring an additional 4,567 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Gilat Satellite Networks by 17.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 20,404 shares of the communications equipment provider’s stock worth $131,000 after acquiring an additional 2,999 shares during the period. Finally, Quadrature Capital Ltd raised its holdings in Gilat Satellite Networks by 129.3% in the 4th quarter. Quadrature Capital Ltd now owns 28,378 shares of the communications equipment provider’s stock valued at $174,000 after acquiring an additional 16,004 shares in the last quarter. 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. The company designs and manufactures ground-based satellite communications equipment; and provides solutions and end-to-end services.