Gilat Satellite Networks (NASDAQ:GILT) Trading Up 5.3% – Still a Buy?

Shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT) were up 5.3% on Tuesday . The company traded as high as $18.11 and last traded at $18.1830. Approximately 258,864 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 933,805 shares. The stock had previously closed at $17.26.

Analysts Set New Price Targets

A number of research analysts 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. Freedom Capital raised shares of Gilat Satellite Networks from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Gilat Satellite Networks in a research note on Tuesday, February 10th. Finally, Wall Street Zen lowered shares of Gilat Satellite Networks from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Gilat Satellite Networks currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Gilat Satellite Networks Stock Up 6.3%

The firm’s 50 day simple moving average is $16.59 and its 200 day simple moving average is $14.56. The company has a market capitalization of $1.35 billion, a PE ratio of 55.29 and a beta of 0.92.

Gilat Satellite Networks (NASDAQ:GILT) last posted its quarterly earnings data on Tuesday, February 10th. The communications equipment provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.13 by $0.07. The company had revenue of $136.96 million during the quarter, compared to analyst estimates of $133.56 million. Gilat Satellite Networks had a net margin of 4.59% and a return on equity of 10.36%. As a group, sell-side analysts predict that Gilat Satellite Networks Ltd. will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Doron Kerbel sold 7,500 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $18.03, for a total transaction of $135,225.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adi Sfadia sold 48,978 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $16.85, for a total transaction of $825,279.30. The disclosure for this sale is available in the SEC filing. 1.13% of the stock is currently owned by insiders.

Institutional Trading of Gilat Satellite Networks

A number of large investors have recently made changes to their positions in GILT. Cullen Frost Bankers Inc. purchased a new stake in shares of Gilat Satellite Networks during the third quarter valued at $26,000. Huntington National Bank boosted its stake in shares of Gilat Satellite Networks by 200,000.0% during the fourth quarter. Huntington National Bank now owns 2,001 shares of the communications equipment provider’s stock valued at $26,000 after purchasing an additional 2,000 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Gilat Satellite Networks by 82.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,130 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 960 shares during the period. USA Financial Formulas bought a new stake in shares of Gilat Satellite Networks in the third quarter valued at about $39,000. Finally, Smartleaf Asset Management LLC bought a new stake in shares of Gilat Satellite Networks in the fourth quarter valued at about $39,000. 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.