GigPeak Inc (GIG) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS
GigPeak Inc (NYSE:GIG) announced its quarterly earnings data on Monday. The company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01.
GigPeak (NYSE:GIG) traded up 2.76% during mid-day trading on Monday, hitting $2.61. 814,050 shares of the stock traded hands. GigPeak has a 1-year low of $1.63 and a 1-year high of $3.42. The firm has a market cap of $176.07 million and a price-to-earnings ratio of 96.67. The stock has a 50-day moving average of $2.27 and a 200 day moving average of $2.30.
A number of hedge funds have recently bought and sold shares of GIG. TFS Capital LLC boosted its stake in GigPeak by 49.3% in the second quarter. TFS Capital LLC now owns 84,747 shares of the company’s stock valued at $166,000 after buying an additional 27,992 shares in the last quarter. Bridgeway Capital Management Inc. boosted its stake in GigPeak by 14.6% in the second quarter. Bridgeway Capital Management Inc. now owns 397,450 shares of the company’s stock valued at $779,000 after buying an additional 50,550 shares in the last quarter. Teachers Advisors Inc. bought a new stake in GigPeak during the second quarter valued at about $141,000. BlackRock Investment Management LLC boosted its stake in GigPeak by 3,132.1% in the second quarter. BlackRock Investment Management LLC now owns 193,184 shares of the company’s stock valued at $379,000 after buying an additional 187,207 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in GigPeak during the second quarter valued at about $556,000.
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GIG has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of GigPeak from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research report on Wednesday, September 21st. TheStreet downgraded shares of GigPeak from a “buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.50 target price on shares of GigPeak in a research report on Tuesday, July 26th. Cowen and Company reaffirmed an “outperform” rating and issued a $3.00 target price (down from $4.00) on shares of GigPeak in a research report on Tuesday, June 28th. Finally, B. Riley reaffirmed a “buy” rating and issued a $4.50 target price on shares of GigPeak in a research report on Wednesday, July 20th. Twelve analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average target price 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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