Viasat, Inc. (NASDAQ:VSAT) Holdings Boosted by Comerica Bank

Comerica Bank raised its position in shares of Viasat, Inc. (NASDAQ:VSATGet Rating) by 2.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 34,565 shares of the communications equipment provider’s stock after acquiring an additional 837 shares during the period. Comerica Bank’s holdings in Viasat were worth $1,591,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of VSAT. State Street Corp raised its position in Viasat by 5.1% during the fourth quarter. State Street Corp now owns 1,952,186 shares of the communications equipment provider’s stock valued at $86,950,000 after buying an additional 94,254 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Viasat by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,680,123 shares of the communications equipment provider’s stock valued at $74,833,000 after purchasing an additional 56,636 shares during the period. Geode Capital Management LLC lifted its position in shares of Viasat by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 969,291 shares of the communications equipment provider’s stock worth $43,172,000 after purchasing an additional 27,830 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Viasat by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 524,009 shares of the communications equipment provider’s stock worth $23,340,000 after purchasing an additional 4,851 shares during the period. Finally, Invesco Ltd. grew its position in Viasat by 4.2% during the fourth quarter. Invesco Ltd. now owns 340,827 shares of the communications equipment provider’s stock valued at $15,180,000 after purchasing an additional 13,705 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VSAT shares. Raymond James decreased their target price on shares of Viasat from $58.00 to $51.00 in a research note on Friday, May 27th. Morgan Stanley reduced their price objective on Viasat from $49.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, July 1st. Needham & Company LLC dropped their target price on Viasat from $58.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, July 14th. TheStreet lowered Viasat from a “c” rating to a “d” rating in a report on Wednesday, May 25th. Finally, B. Riley dropped their price objective on Viasat from $145.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $57.25.

Viasat Stock Performance

VSAT opened at $28.05 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.06 and a current ratio of 1.50. The company has a market cap of $2.09 billion, a PE ratio of -133.57 and a beta of 1.25. The stock has a 50-day moving average of $32.99 and a 200-day moving average of $40.46. Viasat, Inc. has a 52-week low of $25.38 and a 52-week high of $68.76.

Viasat (NASDAQ:VSATGet Rating) last announced its earnings results on Wednesday, May 25th. The communications equipment provider reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.33). Viasat had a negative return on equity of 0.58% and a negative net margin of 0.56%. The company had revenue of $701.70 million for the quarter, compared to the consensus estimate of $724.40 million. During the same period in the previous year, the company earned $0.11 EPS. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, equities research analysts forecast that Viasat, Inc. will post -0.38 earnings per share for the current fiscal year.

Viasat Profile

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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; community internet 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.

See Also

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Institutional Ownership by Quarter for Viasat (NASDAQ:VSAT)

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