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

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

Separately, William Blair assumed coverage on shares of Gilat Satellite Networks in a report on Thursday, September 26th. They set an “outperform” rating for the company.

Gilat Satellite Networks Stock Up 3.2 %

NASDAQ GILT traded up $0.16 on Friday, reaching $5.03. The company had a trading volume of 182,862 shares, compared to its average volume of 190,736. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.14 and a quick ratio of 1.81. Gilat Satellite Networks has a 1 year low of $4.04 and a 1 year high of $6.80. The firm has a 50-day moving average of $5.01 and a 200-day moving average of $4.90. The firm has a market capitalization of $286.81 million, a PE ratio of 17.35 and a beta of 0.59.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GILT. AWM Investment Company Inc. acquired a new position in shares of Gilat Satellite Networks in the 1st quarter valued at approximately $4,201,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Gilat Satellite Networks during the 2nd quarter valued at $3,000,000. Foundry Partners LLC boosted its stake in Gilat Satellite Networks by 27.4% during the 2nd quarter. Foundry Partners LLC now owns 826,185 shares of the communications equipment provider’s stock valued at $3,693,000 after acquiring an additional 177,675 shares during the last quarter. Marshall Wace LLP grew its holdings in 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 in the last quarter. Finally, Clearline Capital LP increased its position in shares of Gilat Satellite Networks by 510.5% in the 3rd quarter. Clearline Capital LP now owns 99,409 shares of the communications equipment provider’s stock worth $524,000 after purchasing an additional 83,127 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.