GigOptix (GIG) Announces Quarterly Earnings Results
GigOptix (NYSE:GIG) posted its quarterly earnings results on Monday. The company reported $0.01 earnings per share (EPS) for the quarter, Stock Ratings Network.com reports. The company had revenue of $8.00 million for the quarter, compared to the consensus estimate of $7.70 million.
GigOptix (NYSE:GIG) remained flat at $1.36 during trading on Monday. 50,094 shares of the company’s stock traded hands. GigOptix has a 52 week low of $0.90 and a 52 week high of $1.98. The stock’s 50-day moving average is $1.38 and its 200-day moving average is $1.54. The company’s market cap is $42.8 million.
On a related note, analysts at Zacks upgraded shares of GigOptix from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 1st. They now have a $1.60 price target on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $1.60.
GigOptix, Inc (NYSE:GIG) is a supplier of semiconductor and electro-optical component products that enables high-speed end to end data streaming over optical fiber and wireless telecommunications and data-communications networks globally.
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