GigPeak Inc (NYSE:GIG)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued on Tuesday. They currently have a $3.50 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 50.21% from the company’s previous close.
GIG has been the subject of a number of other reports. B. Riley reiterated a “buy” rating and issued a $4.50 price target on shares of GigPeak in a research note on Monday, July 25th. Cowen and Company reiterated an “outperform” rating and issued a $3.00 price target on shares of GigPeak in a research note on Thursday, September 15th. Zacks Investment Research cut GigPeak from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. TheStreet cut GigPeak from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. Finally, Raymond James Financial Inc. assumed coverage on GigPeak in a research note on Thursday, June 16th. They issued an “outperform” rating and a $3.50 price target for the company. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $3.87.
GigPeak (NYSE:GIG) opened at 2.33 on Tuesday. The stock’s 50 day moving average price is $2.06 and its 200-day moving average price is $2.31. GigPeak has a 52-week low of $1.63 and a 52-week high of $3.42. The stock has a market capitalization of $157.18 million and a PE ratio of 86.30.
GigPeak (NYSE:GIG) last released its quarterly earnings results on Monday, July 25th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business earned $15.40 million during the quarter, compared to analysts’ expectations of $15.21 million. During the same quarter last year, the business posted $0.06 earnings per share. The company’s quarterly revenue was up 57.1% compared to the same quarter last year. On average, equities analysts expect that GigPeak will post $0.18 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in GigPeak by 79.1% in the second quarter. Dimensional Fund Advisors LP now owns 677,845 shares of the company’s stock valued at $1,329,000 after buying an additional 299,451 shares during the period. Victory Capital Management Inc. bought a new stake in GigPeak during the second quarter valued at approximately $539,000. Alambic Investment Management L.P. raised its stake in GigPeak by 146.0% in the second quarter. Alambic Investment Management L.P. now owns 278,700 shares of the company’s stock valued at $546,000 after buying an additional 165,400 shares during the period. Emerald Acquisition Ltd. bought a new stake in GigPeak during the second quarter valued at approximately $176,000. Finally, California State Teachers Retirement System bought a new stake in GigPeak during the second quarter valued at approximately $191,000.
GigPeak, Inc, formerly GigOptix, Inc is a semiconductor designer, developer and supplier of a range of analog, digital and mixed signal components to enable information streaming over the telecom networks, datacom infrastructure and consumer electronics links. The Company’s business is made up of two product lines: High-Speed Communications (HSC) product line and Industrial product line.
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