OMERS ADMINISTRATION Corp acquired a new position in shares of GigPeak Inc (AMEX:GIG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 985,289 shares of the technology company’s stock, valued at approximately $3,035,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cadence Capital Management LLC raised its position in GigPeak by 2.6% in the fourth quarter. Cadence Capital Management LLC now owns 549,664 shares of the technology company’s stock worth $1,385,000 after buying an additional 13,934 shares in the last quarter. Signia Capital Management LLC acquired a new position in GigPeak during the fourth quarter worth $1,978,000. Highbridge Capital Management LLC acquired a new position in GigPeak during the fourth quarter worth $208,000. Unterberg Capital LLC acquired a new position in GigPeak during the fourth quarter worth $9,804,000. Finally, State Street Corp raised its position in GigPeak by 10.2% in the fourth quarter. State Street Corp now owns 800,996 shares of the technology company’s stock worth $2,017,000 after buying an additional 74,199 shares in the last quarter.
GigPeak Inc (AMEX:GIG) remained flat at $3.07 on Friday. The firm has a 50-day moving average price of $3.07 and a 200 day moving average price of $2.82. GigPeak Inc has a 12-month low of $1.63 and a 12-month high of $3.11.
GigPeak (AMEX:GIG) last released its quarterly earnings results on Monday, February 13th. The technology company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The business had revenue of $16.22 million for the quarter, compared to analyst estimates of $16.17 million. Equities research analysts predict that GigPeak Inc will post $0.23 earnings per share for the current fiscal year.
GIG has been the subject of a number of recent research reports. Craig Hallum lowered shares of GigPeak from a “buy” rating to a “hold” rating in a research note on Tuesday, February 14th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of GigPeak in a research note on Tuesday, February 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $3.60.
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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