Viasat (NASDAQ:VSAT) Given New $19.00 Price Target at Needham & Company LLC

Viasat (NASDAQ:VSAT) had its price target decreased by Needham & Company LLC from $28.00 to $19.00 in a research report report published on Tuesday morning, Marketbeat reports. Needham & Company LLC currently has a buy rating on the communications equipment provider’s stock.

A number of other equities research analysts have also recently issued reports on VSAT. Morgan Stanley decreased their price target on shares of Viasat from $28.00 to $26.00 and set an equal weight rating for the company in a report on Tuesday, June 18th. StockNews.com cut Viasat from a hold rating to a sell rating in a research report on Saturday, August 31st. JPMorgan Chase & Co. lowered Viasat from an overweight rating to a neutral rating and lowered their target price for the company from $29.00 to $15.00 in a report on Tuesday, September 17th. Finally, Bank of America cut their price target on Viasat from $31.00 to $19.00 and set a buy rating for the company in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $20.83.

Viasat Stock Performance

Shares of NASDAQ VSAT opened at $10.76 on Tuesday. The business’s 50-day simple moving average is $14.76 and its 200-day simple moving average is $15.62. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.78 and a current ratio of 3.08. Viasat has a 52 week low of $10.40 and a 52 week high of $29.11. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -1.23 and a beta of 1.34.

Viasat (NASDAQ:VSAT) last released its quarterly earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.16. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Viasat had a negative net margin of 22.13% and a negative return on equity of 19.76%. The company’s quarterly revenue was up 41.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.83) earnings per share. As a group, equities research analysts expect that Viasat will post -1.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Viasat

In other news, insider Cpp Investment Board Private H sold 2,811,442 shares of Viasat stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $19.90, for a total transaction of $55,947,695.80. Following the sale, the insider now owns 8,545,334 shares of the company’s stock, valued at approximately $170,052,146.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Viasat

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. raised its position in Viasat by 63.6% in the second quarter. Point72 Asset Management L.P. now owns 644,155 shares of the communications equipment provider’s stock worth $8,181,000 after purchasing an additional 250,389 shares in the last quarter. Millennium Management LLC grew its stake in shares of Viasat by 1,145.1% in the 2nd quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock valued at $10,369,000 after purchasing an additional 750,904 shares during the period. Vanguard Group Inc. raised its holdings in shares of Viasat by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 12,184,209 shares of the communications equipment provider’s stock worth $340,549,000 after buying an additional 286,872 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Viasat during the 2nd quarter worth approximately $509,000. Finally, Edgestream Partners L.P. boosted its stake in Viasat by 1,752.3% in the 1st quarter. Edgestream Partners L.P. now owns 159,355 shares of the communications equipment provider’s stock valued at $2,883,000 after buying an additional 150,752 shares in the last quarter. 86.05% of the stock is owned by institutional investors.

About Viasat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.