Needham & Company LLC Reaffirms “Buy” Rating for GigPeak Inc (GIG)
GigPeak Inc (NYSE:GIG)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a note issued to investors on Tuesday.
Several other analysts have also recently commented on the company. TheStreet raised GigPeak from a “hold” rating to a “buy” rating in a report on Tuesday, October 4th. B. Riley reissued a “buy” rating and issued a $4.50 price target on shares of GigPeak in a report on Monday, July 25th. Cowen and Company reissued an “outperform” rating and issued a $3.00 price target on shares of GigPeak in a report on Thursday, September 15th. Finally, Zacks Investment Research cut GigPeak from a “hold” rating to a “sell” rating in a report on Monday, July 25th. Twelve investment analysts have rated the stock with a buy rating, GigPeak presently has an average rating of “Buy” and an average target price of $3.87.
Shares of GigPeak (NYSE:GIG) opened at 2.61 on Tuesday. The stock has a market capitalization of $176.07 million and a PE ratio of 96.67. GigPeak has a 12 month low of $1.63 and a 12 month high of $3.42. The company’s 50 day moving average price is $2.29 and its 200 day moving average price is $2.30.
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/2016/10/18/needham-company-llc-reaffirms-buy-rating-for-gigpeak-inc-gig.html
GigPeak (NYSE:GIG) last posted its quarterly earnings data on Monday, October 17th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $15.80 million for the quarter, compared to analyst estimates of $15.52 million. During the same period in the previous year, the business posted $0.06 earnings per share. The firm’s revenue was up 51.6% compared to the same quarter last year. Equities analysts anticipate that GigPeak will post $0.18 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of GIG. Perkins Capital Management Inc. purchased a new position in shares of GigPeak during the second quarter worth $135,000. Teachers Advisors Inc. purchased a new position in shares of GigPeak during the second quarter worth $141,000. Schwab Charles Investment Management Inc. purchased a new position in shares of GigPeak during the second quarter worth $145,000. TFS Capital LLC boosted its position 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 during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in shares of GigPeak during the second quarter worth $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.
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.