WealthTrust Axiom LLC increased its position in shares of GigPeak Inc (NYSE:GIG) by 41.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 230,754 shares of the company’s stock after buying an additional 67,500 shares during the period. WealthTrust Axiom LLC owned approximately 0.43% of GigPeak worth $452,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Perkins Capital Management Inc. bought a new stake in shares of GigPeak during the second quarter worth $135,000. Barclays PLC boosted its stake in shares of GigPeak by 863.4% in the first quarter. Barclays PLC now owns 168,600 shares of the company’s stock worth $338,000 after buying an additional 151,100 shares during the period. Renaissance Technologies LLC boosted its stake in shares of GigPeak by 17.1% in the first quarter. Renaissance Technologies LLC now owns 1,395,600 shares of the company’s stock worth $3,768,000 after buying an additional 203,512 shares during the period. Geode Capital Management LLC boosted its stake in shares of GigPeak by 3.5% in the first quarter. Geode Capital Management LLC now owns 195,261 shares of the company’s stock worth $527,000 after buying an additional 6,690 shares during the period. Finally, Spark Investment Management LLC boosted its stake in shares of GigPeak by 92.4% in the first quarter. Spark Investment Management LLC now owns 495,600 shares of the company’s stock worth $1,338,000 after buying an additional 238,000 shares during the period.
GigPeak Inc (NYSE:GIG) traded down 1.69% during trading on Friday, reaching $2.33. The company’s stock had a trading volume of 262,367 shares. The firm has a 50 day moving average price of $2.08 and a 200-day moving average price of $2.31. The stock has a market cap of $157.18 million and a price-to-earnings ratio of 86.30. GigPeak Inc has a 52-week low of $1.63 and a 52-week high of $3.42.
GigPeak (NYSE:GIG) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. The company had revenue of $15.40 million for the quarter, compared to the consensus estimate of $15.21 million. During the same quarter last year, the business earned $0.06 EPS. GigPeak’s revenue was up 57.1% on a year-over-year basis. On average, analysts expect that GigPeak Inc will post $0.18 earnings per share for the current year.
A number of brokerages have weighed in on GIG. Zacks Investment Research upgraded GigPeak from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $3.50 price objective on shares of GigPeak in a research note on Tuesday. Cowen and Company reissued an “outperform” rating and issued a $3.00 price objective on shares of GigPeak in a research note on Thursday, September 15th. TheStreet lowered GigPeak from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. Finally, B. Riley reissued a “buy” rating and issued a $4.50 price objective on shares of GigPeak in a research note on Monday, July 25th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $3.87.
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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