Needham & Company LLC Reiterates “Buy” Rating for KVH Industries (NASDAQ:KVHI)

KVH Industries (NASDAQ:KVHI)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued to investors on Friday, AnalystRatings.com reports. They currently have a $12.00 target price on the communications equipment provider’s stock. Needham & Company LLC’s price target would indicate a potential upside of 47.78% from the stock’s previous close.

KVHI has been the subject of several other reports. TheStreet downgraded KVH Industries from a “c” rating to a “d” rating in a report on Thursday, April 2nd. Zacks Investment Research downgraded KVH Industries from a “buy” rating to a “hold” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $13.45.

NASDAQ KVHI traded up $0.07 during trading hours on Friday, hitting $8.12. The company’s stock had a trading volume of 78,505 shares, compared to its average volume of 49,734. KVH Industries has a 12 month low of $6.36 and a 12 month high of $11.64. The company’s 50 day simple moving average is $8.21 and its two-hundred day simple moving average is $9.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.73 and a quick ratio of 2.03.

KVH Industries (NASDAQ:KVHI) last released its quarterly earnings data on Friday, July 31st. The communications equipment provider reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.34. KVH Industries had a negative return on equity of 8.20% and a net margin of 21.03%. The company had revenue of $36.93 million during the quarter, compared to the consensus estimate of $28.30 million. On average, sell-side analysts forecast that KVH Industries will post -1.29 EPS for the current year.

In related news, Director Robert Tavares acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was bought at an average cost of $8.96 per share, for a total transaction of $89,600.00. Following the purchase, the director now owns 20,000 shares in the company, valued at approximately $179,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Van Heyningen Martin Kits sold 6,154 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $9.31, for a total value of $57,293.74. Following the transaction, the chief executive officer now owns 825,729 shares of the company’s stock, valued at $7,687,536.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,676 shares of company stock valued at $230,214. Corporate insiders own 13.10% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Needham Investment Management LLC grew its stake in shares of KVH Industries by 16.4% during the 1st quarter. Needham Investment Management LLC now owns 1,314,998 shares of the communications equipment provider’s stock valued at $12,401,000 after acquiring an additional 185,500 shares during the period. BlackRock Inc. grew its stake in shares of KVH Industries by 1.1% during the 1st quarter. BlackRock Inc. now owns 1,238,391 shares of the communications equipment provider’s stock valued at $11,678,000 after acquiring an additional 13,764 shares during the period. Geode Capital Management LLC grew its stake in shares of KVH Industries by 8.6% during the 1st quarter. Geode Capital Management LLC now owns 199,297 shares of the communications equipment provider’s stock valued at $1,879,000 after acquiring an additional 15,858 shares during the period. JPMorgan Chase & Co. grew its stake in shares of KVH Industries by 1,059.0% during the 1st quarter. JPMorgan Chase & Co. now owns 159,252 shares of the communications equipment provider’s stock valued at $1,501,000 after acquiring an additional 145,512 shares during the period. Finally, Brinker Capital Inc. lifted its holdings in KVH Industries by 3.8% in the 2nd quarter. Brinker Capital Inc. now owns 73,341 shares of the communications equipment provider’s stock worth $655,000 after purchasing an additional 2,662 shares in the last quarter. Institutional investors own 58.89% of the company’s stock.

KVH Industries Company Profile

KVH Industries, Inc designs, develops, manufactures, and markets mobile connectivity products and services for the marine and land mobile markets in the United States and internationally. The company offers mobile satellite TV and communications products; two-way satellite communications systems; onboard V-IP terminals and hub equipment; network management hardware and software products for maritime communications; and Iridium OpenPort hardware products and services.

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