Gilat Satellite Networks (NASDAQ:GILT) Hits New 12-Month High – Still a Buy?

Gilat Satellite Networks Ltd. (NASDAQ:GILT) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $18.39 and last traded at $18.1210, with a volume of 578460 shares traded. The stock had previously closed at $17.86.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on GILT shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Gilat Satellite Networks in a report on Monday, December 29th. Wall Street Zen downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. Needham & Company LLC reissued a “buy” rating and set a $16.00 price target on shares of Gilat Satellite Networks in a research report on Tuesday, November 25th. Zacks Research downgraded shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Freedom Capital lowered shares of Gilat Satellite Networks from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.00.

Gilat Satellite Networks Trading Up 4.1%

The firm has a market cap of $1.05 billion, a PE ratio of 44.95 and a beta of 0.64. The company has a 50-day simple moving average of $13.29 and a 200 day simple moving average of $11.66. The company has a current ratio of 1.72, a quick ratio of 1.45 and a debt-to-equity ratio of 0.14.

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, beating 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 analyst estimates of $112.19 million. As a group, sell-side analysts forecast 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

Hedge funds have recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Gilat Satellite Networks by 118.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,154,120 shares of the communications equipment provider’s stock valued at $51,992,000 after acquiring an additional 2,250,000 shares during the period. Penserra Capital Management LLC boosted its position in Gilat Satellite Networks by 831.1% during the third quarter. Penserra Capital Management LLC now owns 1,193,094 shares of the communications equipment provider’s stock worth $15,533,000 after purchasing an additional 1,064,959 shares in the last quarter. CSM Advisors LLC acquired a new stake in Gilat Satellite Networks in the second quarter valued at approximately $6,214,000. UBS Group AG increased its position in shares of Gilat Satellite Networks by 613.4% in the third quarter. UBS Group AG now owns 963,547 shares of the communications equipment provider’s stock valued at $12,545,000 after buying an additional 828,489 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Gilat Satellite Networks by 995.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 907,794 shares of the communications equipment provider’s stock worth $11,755,000 after buying an additional 824,949 shares during the period. 35.72% of the stock is owned by hedge funds and other institutional investors.

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.