Needham & Company LLC Reiterates Buy Rating for Gilat Satellite Networks (NASDAQ:GILT)

Needham & Company LLC reaffirmed their buy rating on shares of Gilat Satellite Networks (NASDAQ:GILT) in a research note published on Friday morning,Benzinga reports. They currently have a $8.50 price objective on the communications equipment provider’s stock.

Separately, 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 Stock Up 10.9 %

Shares of NASDAQ GILT opened at $5.58 on Friday. The business has a 50-day moving average of $5.01 and a two-hundred day moving average of $4.90. The company has a market capitalization of $318.17 million, a price-to-earnings ratio of 19.24 and a beta of 0.59. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $6.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.17 and a quick ratio of 1.81.

Hedge Funds Weigh In On Gilat Satellite Networks

A number of institutional investors have recently modified their holdings of GILT. AWM Investment Company Inc. acquired a new stake in shares of Gilat Satellite Networks in the first quarter worth $4,201,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Gilat Satellite Networks in the 2nd quarter valued at about $3,000,000. Foundry Partners LLC grew its stake in shares of Gilat Satellite Networks by 27.4% in the second quarter. Foundry Partners LLC now owns 826,185 shares of the communications equipment provider’s stock worth $3,693,000 after purchasing an additional 177,675 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Gilat Satellite Networks by 410.2% during the second quarter. Marshall Wace LLP now owns 129,259 shares of the communications equipment provider’s stock valued at $578,000 after acquiring an additional 103,924 shares during the period. Finally, Clearline Capital LP raised its position in Gilat Satellite Networks by 510.5% in the third quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock worth $524,000 after acquiring an additional 83,127 shares in the last quarter. Institutional investors and hedge funds 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.