Raymond James Financial, Inc. reaffirmed their market perform rating on shares of GigPeak Inc (NYSE:GIG) in a report issued on Tuesday.

A number of other equities analysts also recently commented on GIG. Needham & Company LLC reissued a buy rating and set a $3.50 price objective on shares of GigPeak in a research report on Tuesday, October 18th. Zacks Investment Research downgraded GigPeak from a buy rating to a hold rating in a research report on Tuesday, December 20th. TheStreet downgraded GigPeak from a buy rating to a hold rating in a research report on Thursday, December 22nd. Finally, Cowen and Company boosted their price objective on GigPeak from $3.50 to $4.00 and gave the stock an outperform rating in a research report on Tuesday, January 17th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $3.94.

Analyst Recommendations for GigPeak (NYSE:GIG)

GigPeak (NYSE:GIG) opened at 3.05 on Tuesday. The firm’s 50-day moving average is $2.60 and its 200-day moving average is $2.43. The stock has a market capitalization of $206.32 million and a price-to-earnings ratio of 80.26. GigPeak has a 52-week low of $1.63 and a 52-week high of $3.06.

GigPeak (NYSE:GIG) last announced its quarterly earnings data on Monday, February 13th. The company reported $0.05 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.05. Analysts predict that GigPeak will post $0.22 earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of GigPeak by 189.0% in the second quarter. Bank of New York Mellon Corp now owns 120,091 shares of the company’s stock worth $235,000 after buying an additional 78,541 shares in the last quarter. California State Teachers Retirement System acquired a new position in shares of GigPeak during the second quarter worth about $191,000. Emerald Acquisition Ltd. acquired a new position in shares of GigPeak during the second quarter worth about $176,000. Pacific Ridge Capital Partners LLC increased its position in shares of GigPeak by 30.3% in the second quarter. Pacific Ridge Capital Partners LLC now owns 1,503,180 shares of the company’s stock worth $2,946,000 after buying an additional 349,820 shares during the period. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of GigPeak during the second quarter worth about $145,000.

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.

5 Day Chart for NYSE:GIG

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