GigPeak Inc (GIG) Given Buy Rating at Needham & Company LLC
GigPeak Inc (NYSE:GIG)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued on Tuesday. They presently have a $3.50 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 34.62% from the stock’s previous close.
A number of other equities analysts have also weighed in on GIG. B. Riley reiterated a “buy” rating and set a $4.50 target price on shares of GigPeak in a research note on Tuesday, April 5th. Sterne Agee CRT reiterated a “buy” rating and set a $4.35 target price on shares of GigPeak in a research note on Tuesday, April 19th. Zacks Investment Research upgraded GigPeak from a “hold” rating to a “strong-buy” rating and set a $3.50 target price on the stock in a research note on Tuesday, April 12th. Roth Capital lowered their target price on GigPeak from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, April 19th. Finally, Cowen and Company reiterated an “outperform” rating and set a $4.00 target price on shares of GigPeak in a research note on Wednesday, April 6th. Twelve research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $3.87.
Shares of GigPeak (NYSE:GIG) traded up 2.36% during mid-day trading on Tuesday, reaching $2.60. The company had a trading volume of 749,793 shares. The stock has a market capitalization of $175.40 million and a P/E ratio of 96.30. The firm’s 50 day moving average is $2.18 and its 200-day moving average is $2.30. GigPeak has a 12-month low of $1.63 and a 12-month high of $3.42.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/09/gigpeak-inc-gig-given-buy-rating-at-needham-company-llc.html
GigPeak (NYSE:GIG) last announced its earnings results on Monday, July 25th. The company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. The firm had revenue of $15.40 million for the quarter, compared to the consensus estimate of $15.21 million. GigPeak’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. On average, analysts expect that GigPeak will post $0.18 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of GIG. Perkins Capital Management Inc. acquired a new stake in shares of GigPeak during the second quarter worth $135,000. Teachers Advisors Inc. acquired a new stake in shares of GigPeak during the second quarter worth $141,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of GigPeak during the second quarter worth $145,000. TFS Capital LLC increased its stake in shares of GigPeak by 49.3% in the second quarter. TFS Capital LLC now owns 84,747 shares of the company’s stock worth $166,000 after buying an additional 27,992 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of GigPeak during the second quarter worth $176,000.
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.
Receive News & Ratings for GigPeak Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GigPeak Inc and related companies with MarketBeat.com's FREE daily email newsletter.