GigPeak Inc (GIG) Shares Up 2.5%
GigPeak Inc (NYSE:GIG) shares shot up 2.5% during trading on Friday . The stock traded as high as $2.04 and last traded at $2.03, with a volume of 183,173 shares traded. The stock had previously closed at $1.98.
Several brokerages have recently commented on GIG. Needham & Company LLC reissued a “buy” rating and issued a $3.50 target price on shares of GigPeak in a report on Wednesday, June 29th. Zacks Investment Research raised GigPeak from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a report on Friday, April 22nd. B. Riley reaffirmed a “buy” rating and set a $4.50 price objective on shares of GigPeak in a report on Wednesday, April 20th. Sterne Agee CRT reaffirmed a “buy” rating and set a $4.35 price objective on shares of GigPeak in a report on Tuesday, April 19th. Finally, Roth Capital reduced their price objective on GigPeak from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, April 19th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $3.90.
The company’s 50 day moving average price is $1.99 and its 200-day moving average price is $2.43. The stock has a market capitalization of $137.62 million and a price-to-earnings ratio of 75.56.
GigPeak (NYSE:GIG) last announced its quarterly earnings data on Monday, July 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm earned $15.40 million during the quarter, compared to the consensus estimate of $15.21 million. The business’s revenue was up 57.1% compared to the same quarter last year. During the same period last year, the business earned $0.06 earnings per share. On average, equities analysts expect that GigPeak Inc will post $0.18 earnings per share for the current year.
In other GigPeak news, CEO Avi S. Katz sold 410,000 shares of the firm’s stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $2.00, for a total value of $820,000.00. Following the sale, the chief executive officer now owns 65,341 shares in the company, valued at $130,682. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrea Betti-Berutto sold 67,778 shares of the firm’s stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $2.00, for a total transaction of $135,556.00. Following the completion of the sale, the insider now owns 41,812 shares in the company, valued at approximately $83,624. The disclosure for this sale can be found here.
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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