Viasat (NASDAQ:VSAT) Hits New 1-Year High – Here’s Why

Viasat Inc. (NASDAQ:VSAT)’s share price reached a new 52-week high on Wednesday . The company traded as high as $89.95 and last traded at $89.81, with a volume of 6364077 shares traded. The stock had previously closed at $76.69.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on VSAT shares. Needham & Company LLC upped their price target on Viasat from $58.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, June 1st. B. Riley Financial upped their target price on shares of Viasat from $94.00 to $106.00 and gave the company a “buy” rating in a research note on Friday, May 29th. New Street Research started coverage on shares of Viasat in a report on Wednesday, May 13th. They issued a “buy” rating and a $100.00 price target for the company. Oppenheimer began coverage on shares of Viasat in a research report on Monday. They issued an “outperform” rating and a $140.00 price target on the stock. Finally, Raymond James Financial set a $74.00 price target on Viasat and gave the company an “outperform” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.11.

Viasat Stock Performance

The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19. The firm has a market cap of $11.34 billion, a P/E ratio of -286.41 and a beta of 1.70. The stock’s 50 day moving average is $69.68 and its two-hundred day moving average is $53.93.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings results on Thursday, May 28th. The communications equipment provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.34). Viasat had a positive return on equity of 1.58% and a negative net margin of 0.73%.The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the business earned ($0.02) EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts predict that Viasat Inc. will post -0.39 EPS for the current year.

Insider Buying and Selling at Viasat

In related news, Director Theresa Wise sold 2,500 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $69.00, for a total value of $172,500.00. Following the sale, the director owned 11,000 shares of the company’s stock, valued at $759,000. The trade was a 18.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard A. Baldridge sold 27,122 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $71.74, for a total value of $1,945,732.28. Following the completion of the sale, the director owned 213,355 shares in the company, valued at $15,306,087.70. This trade represents a 11.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 438,275 shares of company stock worth $28,608,719 over the last three months. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viasat

Several large investors have recently made changes to their positions in the company. Valued Wealth Advisors LLC bought a new position in Viasat during the 1st quarter valued at about $25,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Viasat during the fourth quarter worth about $36,000. Los Angeles Capital Management LLC bought a new stake in Viasat during the fourth quarter worth about $38,000. EFG International AG acquired a new stake in shares of Viasat during the fourth quarter worth approximately $41,000. Finally, Danske Bank A S acquired a new stake in shares of Viasat during the fourth quarter worth approximately $47,000. Institutional investors own 86.05% of the company’s stock.

Viasat Company Profile

Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.

Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.