WealthTrust Axiom LLC increased its position in GigPeak Inc (NYSE:GIG) by 41.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,754 shares of the company’s stock after buying an additional 67,500 shares during the period. WealthTrust Axiom LLC’s holdings in GigPeak were worth $452,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Perkins Capital Management Inc. acquired a new position in shares of GigPeak during the second quarter valued at about $135,000. Barclays PLC raised its position in shares of GigPeak by 863.4% in the first quarter. Barclays PLC now owns 168,600 shares of the company’s stock valued at $338,000 after buying an additional 151,100 shares during the last quarter. Renaissance Technologies LLC raised its position 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 valued at $3,768,000 after buying an additional 203,512 shares during the last quarter. Geode Capital Management LLC raised its position 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 valued at $527,000 after buying an additional 6,690 shares during the last quarter. Finally, Spark Investment Management LLC raised its position 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 valued at $1,338,000 after buying an additional 238,000 shares during the last quarter.
Shares of GigPeak Inc (NYSE:GIG) traded down 1.69% on Friday, reaching $2.33. The company’s stock had a trading volume of 262,367 shares. The firm has a market cap of $157.18 million and a price-to-earnings ratio of 86.30. GigPeak Inc has a 12 month low of $1.63 and a 12 month high of $3.42. The stock has a 50 day moving average of $2.08 and a 200-day moving average of $2.31.
GigPeak (NYSE:GIG) last issued its quarterly earnings results on Monday, July 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $15.40 million for the quarter, compared to analyst estimates of $15.21 million. During the same period last year, the company earned $0.06 EPS. The company’s revenue was up 57.1% compared to the same quarter last year. On average, analysts anticipate that GigPeak Inc will post $0.18 EPS for the current year.
Several equities analysts have recently issued reports on GIG shares. Needham & Company LLC started coverage on GigPeak in a research note on Tuesday, June 14th. They issued a “buy” rating and a $3.50 price target on the stock. TheStreet upgraded GigPeak from a “hold” rating to a “buy” rating in a research note on Friday, June 3rd. 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. 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 note on Wednesday. Finally, 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. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $3.87.
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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