A number of other research firms have also issued reports on GIG. Zacks Investment Research upgraded shares of GigPeak from a hold rating to a buy rating and set a $2.50 target price on the stock in a report on Wednesday, September 21st. TheStreet lowered shares of GigPeak from a buy rating to a hold rating in a report on Wednesday, August 31st. Cowen and Company restated an outperform rating and issued a $3.00 price objective (down from $4.00) on shares of GigPeak in a report on Tuesday, June 28th. Finally, B. Riley restated a buy rating and issued a $4.50 price objective on shares of GigPeak in a report on Wednesday, July 20th. Twelve research analysts have rated the stock with a buy rating, The stock has a consensus rating of Buy and an average price target of $3.87.
GigPeak (NYSE:GIG) traded down 0.78% during midday trading on Tuesday, reaching $2.53. 135,368 shares of the company’s stock traded hands. The company has a market capitalization of $170.68 million and a PE ratio of 93.70. GigPeak has a 1-year low of $1.63 and a 1-year high of $3.42. The firm’s 50 day moving average price is $2.31 and its 200-day moving average price is $2.30.
GigPeak (NYSE:GIG) last released its earnings results on Monday, October 17th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. The business had revenue of $15.80 million for the quarter, compared to analyst estimates of $15.52 million. GigPeak’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. Equities analysts expect that GigPeak will post $0.18 EPS for the current year.
Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of GigPeak by 45.8% in the second quarter. Vanguard Group Inc. now owns 1,876,050 shares of the company’s stock valued at $3,677,000 after buying an additional 589,612 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its position in shares of GigPeak by 30.3% in the second quarter. Pacific Ridge Capital Partners LLC now owns 1,503,180 shares of the company’s stock valued at $2,946,000 after buying an additional 349,820 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of GigPeak by 1,417.2% in the second quarter. BlackRock Fund Advisors now owns 1,205,058 shares of the company’s stock valued at $2,362,000 after buying an additional 1,125,631 shares during the last quarter. Northpointe Capital LLC acquired a new position in shares of GigPeak during the second quarter valued at about $2,156,000. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of GigPeak by 110.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 844,117 shares of the company’s stock valued at $1,654,000 after buying an additional 442,311 shares during the last quarter.
GigPeak Company Profile
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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