GigPeak Inc (NYSE:GIG) shares shot up 1% during trading on Monday . The company traded as high as $2.08 and last traded at $2.01, with a volume of 702,963 shares trading hands. The stock had previously closed at $1.99.

A number of brokerages have recently commented on GIG. Needham & Company LLC reaffirmed a “buy” rating and set a $3.50 price objective on shares of GigPeak in a research report on Wednesday, June 29th. TheStreet lowered shares of GigPeak from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Cowen and Company reaffirmed an “outperform” rating and set a $3.00 price objective (down previously from $4.00) on shares of GigPeak in a research report on Tuesday, June 28th. Raymond James Financial Inc. began coverage on shares of GigPeak in a research report on Thursday, June 16th. They set an “outperform” rating and a $3.50 price objective for the company. Finally, Zacks Investment Research lowered shares of GigPeak from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. GigPeak presently has an average rating of “Buy” and a consensus target price of $3.90.

The stock has a market capitalization of $107.90 million and a P/E ratio of 47.86. The firm has a 50 day moving average of $2.30 and a 200-day moving average of $2.57.

GigPeak (NYSE:GIG) last posted its quarterly earnings data on Monday, April 18th. The company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. The firm earned $11.40 million during the quarter, compared to the consensus estimate of $11.14 million. During the same period in the prior year, the company posted $0.02 earnings per share. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. On average, equities research analysts forecast that GigPeak Inc will post $0.19 EPS for the current year.

In other news, COO Raluca Dinu sold 54,000 shares of the company’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $2.00, for a total value of $108,000.00. Following the sale, the chief operating officer now directly owns 31,434 shares of the company’s stock, valued at approximately $62,868. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Avi S. Katz sold 410,000 shares of the company’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $2.00, for a total transaction of $820,000.00. Following the completion of the sale, the chief executive officer now directly owns 65,341 shares in the company, valued at $130,682. The disclosure for this sale can be found here.

An institutional investor recently raised its position in GigPeak stock. EAM Investors LLC boosted its position in shares of GigPeak Inc (NYSE:GIG) by 41.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,067,735 shares of the company’s stock after buying an additional 312,770 shares during the period. EAM Investors LLC owned approximately 2.42% of GigPeak worth $3,246,000 as of its most recent filing with the SEC.

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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