GigPeak Inc (GIG) Earns “Buy” Rating from Needham & Company LLC
GigPeak Inc (NYSE:GIG)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a note issued to investors on Tuesday.
Other research analysts have also issued reports about the company. B. Riley reiterated a “buy” rating and set a $4.50 price target on shares of GigPeak in a report on Monday, July 25th. 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 for the company in a report on Wednesday, September 21st. Finally, Cowen and Company reiterated an “outperform” rating and set a $3.00 price target (down from $4.00) on shares of GigPeak in a report on Tuesday, June 28th. Twelve equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $3.87.
GigPeak (NYSE:GIG) opened at 2.61 on Tuesday. The stock’s 50 day moving average is $2.29 and its 200 day moving average is $2.30. The firm has a market cap of $176.07 million and a P/E ratio of 96.67. GigPeak has a one year low of $1.63 and a one year high of $3.42.
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GigPeak (NYSE:GIG) last issued its quarterly earnings results on Monday, October 17th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $15.80 million for the quarter, compared to analyst estimates of $15.52 million. During the same quarter last year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, equities research analysts expect that GigPeak will post $0.18 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Perkins Capital Management Inc. bought a new position in GigPeak during the second quarter valued at about $135,000. Teachers Advisors Inc. bought a new position in GigPeak during the second quarter valued at about $141,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of GigPeak during the second quarter valued at approximately $145,000. TFS Capital LLC boosted 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 valued at $166,000 after buying an additional 27,992 shares during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of GigPeak during the second quarter valued at approximately $176,000.
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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