Key Points
- Director Amir Yechiel Ofek sold 3,923 Gilat Satellite Networks shares at an average price of $11.41, generating approximately $44,761. The transaction was disclosed in an SEC filing.
- Gilat reported quarterly earnings of $0.20 per share on revenue of $122.66 million, with a 6.21% net margin and 10.12% return on equity.
- Analysts maintain a “Moderate Buy” consensus with a $20.00 target price, while institutional investors own 35.72% of the company.
Gilat Satellite Networks Ltd. (NASDAQ:GILT - Get Free Report) Director Amir Yechiel Ofek sold 3,923 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $11.41, for a total transaction of $44,761.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Gilat Satellite Networks Stock Performance
NASDAQ GILT opened at $11.03 on Tuesday. Gilat Satellite Networks Ltd. has a one year low of $8.52 and a one year high of $20.93. The company has a 50-day simple moving average of $12.53 and a 200-day simple moving average of $15.49. The firm has a market capitalization of $814.34 million, a PE ratio of 25.07 and a beta of 1.06.
Gilat Satellite Networks (NASDAQ:GILT - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The communications equipment provider reported $0.20 earnings per share for the quarter. The firm had revenue of $122.66 million for the quarter. Gilat Satellite Networks had a net margin of 6.21% and a return on equity of 10.12%. Equities analysts forecast that Gilat Satellite Networks Ltd. will post 0.53 earnings per share for the current year.
Analyst Ratings Changes
GILT has been the subject of a number of recent research reports. Weiss Ratings restated a "hold (c)" rating on shares of Gilat Satellite Networks in a research note on Thursday, June 18th. Zacks Research cut Gilat Satellite Networks from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 16th. Finally, Needham & Company LLC reissued a "buy" rating and set a $20.00 price target on shares of Gilat Satellite Networks in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.00.
Read Our Latest Research Report on GILT
Institutional Trading of Gilat Satellite Networks
Several institutional investors have recently modified their holdings of GILT. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Gilat Satellite Networks by 33.8% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 5,556,155 shares of the communications equipment provider's stock valued at $71,476,000 after acquiring an additional 1,402,035 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Gilat Satellite Networks by 77.3% in the 4th quarter. Van ECK Associates Corp now owns 1,068,141 shares of the communications equipment provider's stock worth $13,822,000 after purchasing an additional 465,775 shares in the last quarter. Defiance ETFs LLC acquired a new stake in Gilat Satellite Networks during the fourth quarter valued at approximately $13,555,000. UBS Group AG lifted its stake in Gilat Satellite Networks by 613.4% during the third quarter. UBS Group AG now owns 963,547 shares of the communications equipment provider's stock valued at $12,545,000 after purchasing an additional 828,489 shares during the last quarter. Finally, LBP AM SA boosted its holdings in Gilat Satellite Networks by 31.7% during the fourth quarter. LBP AM SA now owns 961,719 shares of the communications equipment provider's stock worth $12,445,000 after buying an additional 231,258 shares in the last quarter. Institutional investors and hedge funds own 35.72% of the company's stock.
About Gilat Satellite Networks
(
Get Free Report)
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.
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