Zacks Investment Research upgraded shares of ViaSat (NASDAQ:VSAT) from a hold rating to a buy rating in a research note issued to investors on Monday morning, Zacks.com reports. They currently have $101.00 price target on the communications equipment provider’s stock.
According to Zacks, “Viasat aims to extend broadband satellite mobility to rotary wing aircraft as it is a large addressable market that can emerge as a key profit churner. The satellite and wireless networking technology provider is ramping up investments in the development of its ViaSat-3 broadband communications platform, which will have about 10 times the bandwidth capacity of ViaSat-2. The company boasts a competitive advantage in bandwidth economics, global coverage, flexibility and bandwidth allocation. Viasat has also augmented its footprint in the U.K. defense market with the acquisition of Horsebridge Defence & Security. The transaction will extend its long-term business relationship with the country’s armed forces. The stock has outperformed the industry over the past year on average. However, massive R&D expenses related to the commercial launch of Viasat-3 satellites and high integration costs remain headwinds.”
VSAT has been the topic of a number of other reports. Raymond James upped their price target on shares of ViaSat from $73.00 to $81.00 and gave the stock a positive rating in a research note on Friday, February 15th. Barclays reaffirmed a sell rating and issued a $66.00 price target on shares of ViaSat in a research note on Wednesday, February 13th. ValuEngine raised shares of ViaSat from a buy rating to a strong-buy rating in a research note on Wednesday, April 10th. BidaskClub raised shares of ViaSat from a hold rating to a buy rating in a research note on Tuesday, February 12th. Finally, B. Riley upped their price target on shares of ViaSat from $89.00 to $145.00 and gave the stock a buy rating in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $82.88.
In other ViaSat news, Director B Allen Lay sold 1,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $90.96, for a total transaction of $90,960.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Bruce Leroy Dirks sold 25,000 shares of the stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $73.61, for a total transaction of $1,840,250.00. The disclosure for this sale can be found here. Insiders have sold 127,625 shares of company stock worth $9,688,676 over the last three months. Company insiders own 8.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in ViaSat in the fourth quarter worth about $30,846,000. SG Capital Management LLC bought a new position in ViaSat in the fourth quarter valued at approximately $15,827,000. Squarepoint Ops LLC boosted its stake in ViaSat by 103.9% in the fourth quarter. Squarepoint Ops LLC now owns 420,362 shares of the communications equipment provider’s stock valued at $24,780,000 after acquiring an additional 214,227 shares during the last quarter. BlackRock Inc. boosted its stake in ViaSat by 3.3% in the fourth quarter. BlackRock Inc. now owns 6,612,721 shares of the communications equipment provider’s stock valued at $389,817,000 after acquiring an additional 211,159 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in ViaSat by 55.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 527,042 shares of the communications equipment provider’s stock valued at $31,069,000 after acquiring an additional 186,912 shares during the last quarter.
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 Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.
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