11 Best Communication Equipment Stocks to Buy According to Hedge Funds

8. Viasat Incorporated (NASDAQ:VSAT)

Number of Hedge Fund Holders: 31

Viasat Incorporated (NASDAQ:VSAT) is one of the 11 best communication equipment stocks according to hedge funds.

As of February 9 closing, consensus sentiment for Viasat Incorporated (NASDAQ:VSAT) was strongly bullish. The stock had been covered by 5 analysts, receiving 4 Buy ratings and 1 Hold rating. With no Sell call, the stock has a projected median 1-year price target of $48.50, leading to an upside potential of around 8%.

On February 6, Viasat Incorporated (NASDAQ:VSAT) reported revenue of $1.16 billion during the third quarter, which was slightly below the consensus estimates of $1.17 billion. The company posted a net income of $25 million compared to a $158 million loss in the prior year. This improvement was largely driven by higher interest income related to deferred Ligado payments received as part of a lump-sum settlement.

Following the third quarter results, Edison Yu from Deutsche Bank upgraded his rating on Viasat Incorporated (NASDAQ:VSAT) from Hold to Buy on February 6. The analyst also raised the price target from $36 to $48, yielding above 15% upside potential from the current level.

Viasat Incorporated (NASDAQ:VSAT) is a global broadband and communication service provider that delivers satellite-based broadband services, narrowband communications, secure networking systems, and cybersecurity solutions. The business is structured around two segments, i.e., Communication Services and Defense & Advanced Technologies. The company also develops wireless products, terminals, and space system solutions.