GigPeak Inc (GIG) Short Interest Up 6.7% in September
GigPeak Inc (NYSE:GIG) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 2,168,471 shares, an increase of 6.7% from the September 15th total of 2,032,687 shares. Based on an average trading volume of 384,428 shares, the short-interest ratio is presently 5.6 days. Currently, 3.6% of the company’s shares are short sold.
GigPeak (NYSE:GIG) traded down 2.28% during trading on Tuesday, reaching $2.57. The company’s stock had a trading volume of 784,530 shares. The company has a market capitalization of $173.37 million and a P/E ratio of 95.19. The company’s 50-day moving average is $2.20 and its 200-day moving average is $2.30. GigPeak has a 1-year low of $1.63 and a 1-year high of $3.42.
GigPeak (NYSE:GIG) last posted its earnings results on Monday, July 25th. The company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The firm earned $15.40 million during the quarter, compared to analyst estimates of $15.21 million. The firm’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS. Equities analysts anticipate that GigPeak will post $0.18 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of the stock. Perkins Capital Management Inc. bought a new stake in GigPeak during the second quarter worth approximately $135,000. Teachers Advisors Inc. bought a new stake in GigPeak during the second quarter worth approximately $141,000. Schwab Charles Investment Management Inc. bought a new stake in GigPeak during the second quarter worth approximately $145,000. TFS Capital LLC raised its stake in 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 during the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in GigPeak during the second quarter worth approximately $176,000.
Several research analysts have recently commented on the company. TheStreet upgraded GigPeak from a “hold” rating to a “buy” rating in a report on Tuesday, October 4th. 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 report on Wednesday, September 21st. Needham & Company LLC reiterated a “buy” rating and set a $3.50 price target on shares of GigPeak in a report on Tuesday, September 20th. Cowen and Company reiterated an “outperform” rating and set a $3.00 price target on shares of GigPeak in a report on Thursday, September 15th. Finally, B. Riley reiterated a “buy” rating and set a $4.50 price target on shares of GigPeak in a report on Monday, July 25th. Twelve investment analysts have rated the stock with a buy rating, The company currently 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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