Needham & Company LLC Reiterates “Hold” Rating for ViaSat Inc. (VSAT)
ViaSat Inc. (NASDAQ:VSAT)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a note issued to investors on Wednesday.
VSAT has been the subject of a number of other reports. Zacks Investment Research lowered ViaSat from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. B. Riley restated a “buy” rating and set a $89.00 price objective on shares of ViaSat in a research report on Sunday, August 14th. Finally, Jefferies Group started coverage on ViaSat in a research report on Monday, August 1st. They set a “hold” rating and a $85.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. ViaSat currently has an average rating of “Hold” and an average price target of $73.80.
Shares of ViaSat (NASDAQ:VSAT) opened at 74.20 on Wednesday. The firm has a market cap of $3.66 billion, a P/E ratio of 173.36 and a beta of 0.97. The firm has a 50-day moving average of $74.33 and a 200 day moving average of $73.41. ViaSat has a 12 month low of $56.02 and a 12 month high of $79.15.
ViaSat (NASDAQ:VSAT) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.03. ViaSat had a net margin of 1.46% and a return on equity of 2.59%. The company earned $363.10 million during the quarter, compared to analyst estimates of $371.89 million. During the same quarter last year, the business earned $0.25 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that ViaSat will post $1.21 EPS for the current fiscal year.
In other news, Director John P. Stenbit sold 700 shares of ViaSat stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $73.64, for a total transaction of $51,548.00. Following the completion of the sale, the director now directly owns 7,100 shares in the company, valued at approximately $522,844. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John P. Stenbit sold 800 shares of ViaSat stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $75.12, for a total value of $60,096.00. Following the sale, the director now owns 7,200 shares of the company’s stock, valued at $540,864. The disclosure for this sale can be found here. Insiders own 9.70% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. LS Investment Advisors LLC raised its stake in shares of ViaSat by 71.0% in the second quarter. LS Investment Advisors LLC now owns 2,723 shares of the company’s stock valued at $194,000 after buying an additional 1,131 shares in the last quarter. CHICAGO TRUST Co NA purchased a new stake in shares of ViaSat during the second quarter valued at about $202,000. B. Riley Financial Inc. purchased a new stake in shares of ViaSat during the second quarter valued at about $203,000. Royal Bank of Canada raised its stake in shares of ViaSat by 1,412.3% in the first quarter. Royal Bank of Canada now owns 2,828 shares of the company’s stock valued at $208,000 after buying an additional 2,641 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of ViaSat by 120.1% in the first quarter. BlackRock Inc. now owns 2,923 shares of the company’s stock valued at $214,000 after buying an additional 1,595 shares in the last quarter. Institutional investors and hedge funds own 94.53% of the company’s stock.
ViaSat Company Profile
ViaSat, Inc is engaged in broadband technologies and services. The Company operates through three segments: satellite services, commercial networks and government systems. The satellite services segment provides satellite-based broadband services to consumers, enterprises, commercial airlines and mobile broadband customers primarily in the United States.
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