Gilat Satellite Networks (NASDAQ:GILT) Sets New 12-Month High – What’s Next?

Gilat Satellite Networks Ltd. (NASDAQ:GILT) hit a new 52-week high on Monday . The company traded as high as $20.38 and last traded at $18.9530, with a volume of 1313893 shares. The stock had previously closed at $19.97.

Wall Street Analyst Weigh In

A number of analysts recently commented on GILT shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gilat Satellite Networks in a report on Monday, December 29th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Gilat Satellite Networks in a research note on Tuesday, November 25th. Freedom Capital downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Wall Street Zen downgraded shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $16.00.

Gilat Satellite Networks Stock Up 5.4%

The firm has a market capitalization of $1.12 billion, a P/E ratio of 47.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.45 and a current ratio of 1.72. The stock has a 50 day moving average of $14.56 and a 200-day moving average of $12.38.

Gilat Satellite Networks (NASDAQ:GILT) last posted its earnings results on Wednesday, November 12th. The communications equipment provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. Gilat Satellite Networks had a net margin of 6.03% and a return on equity of 10.40%. The firm had revenue of $117.69 million during the quarter, compared to the consensus estimate of $112.19 million. Research analysts predict that Gilat Satellite Networks Ltd. will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gilat Satellite Networks

Several institutional investors have recently made changes to their positions in GILT. SBI Securities Co. Ltd. boosted its holdings in shares of Gilat Satellite Networks by 82.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider’s stock worth $28,000 after acquiring an additional 960 shares during the period. Precision Wealth Strategies LLC purchased a new stake in Gilat Satellite Networks during the 4th quarter worth about $1,102,000. IMC Chicago LLC purchased a new stake in Gilat Satellite Networks during the 4th quarter worth about $255,000. LBP AM SA boosted its stake in Gilat Satellite Networks by 31.7% in the 4th quarter. LBP AM SA now owns 961,719 shares of the communications equipment provider’s stock worth $12,445,000 after purchasing an additional 231,258 shares during the period. Finally, Ritholtz Wealth Management grew its holdings in Gilat Satellite Networks by 24.5% during the 4th quarter. Ritholtz Wealth Management now owns 34,972 shares of the communications equipment provider’s stock valued at $453,000 after buying an additional 6,882 shares in 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 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.