GigPeak Inc (NYSE:GIG) Receives $3.87 Consensus Target Price from Analysts
GigPeak Inc (NYSE:GIG) has been given an average recommendation of “Buy” by the twelve research firms that are currently covering the firm. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $3.87.
A number of research firms have recently commented on GIG. B. Riley reissued a “buy” rating and issued a $4.50 target price on shares of GigPeak in a report on Monday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $3.50 target price on shares of GigPeak in a report on Tuesday, July 26th. TheStreet cut shares of GigPeak from a “buy” rating to a “hold” rating in a report on Friday, June 24th. Zacks Investment Research raised shares of GigPeak from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Cowen and Company reissued an “outperform” rating and issued a $3.00 target price (down previously from $4.00) on shares of GigPeak in a report on Tuesday, June 28th.
GigPeak (NYSE:GIG) opened at 2.30 on Monday. The company has a market capitalization of $155.16 million and a P/E ratio of 85.19. The company’s 50-day moving average is $2.09 and its 200 day moving average is $2.31. GigPeak has a one year low of $1.63 and a one year high of $3.42.
GigPeak (NYSE:GIG) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The firm had revenue of $15.40 million for the quarter, compared to the consensus estimate of $15.21 million. During the same period in the prior year, the company earned $0.06 EPS. The company’s revenue for the quarter was up 57.1% compared to the same quarter last year. Analysts predict that GigPeak will post $0.18 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors increased its stake in GigPeak by 1,417.2% in the second quarter. BlackRock Fund Advisors now owns 1,205,058 shares of the company’s stock worth $2,362,000 after buying an additional 1,125,631 shares in the last quarter. Northpointe Capital LLC purchased a new stake in GigPeak during the second quarter worth $2,156,000. Allianz Asset Management AG purchased a new stake in GigPeak during the second quarter worth $1,260,000. Vanguard Group Inc. increased its stake in GigPeak by 45.8% in the second quarter. Vanguard Group Inc. now owns 1,876,050 shares of the company’s stock worth $3,677,000 after buying an additional 589,612 shares in the last quarter. Finally, State Street Corp increased its stake in GigPeak by 1,810.6% in the second quarter. State Street Corp now owns 502,480 shares of the company’s stock worth $985,000 after buying an additional 476,180 shares in the last quarter.
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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