GigPeak Inc (NYSE:GIG) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 2,168,471 shares, an increase of 6.7% from the September 15th total of 2,032,687 shares. Based on an average daily volume of 384,428 shares, the days-to-cover ratio is presently 5.6 days. Currently, 3.6% of the company’s shares are sold short.

Several equities analysts have recently weighed in on the company. TheStreet raised GigPeak from a “hold” rating to a “buy” rating in a research report on Tuesday, October 4th. Zacks Investment Research raised GigPeak from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research report on Wednesday, September 21st. Needham & Company LLC reissued a “buy” rating and set a $3.50 target price on shares of GigPeak in a research report on Tuesday, September 20th. Cowen and Company reissued an “outperform” rating and set a $3.00 target price on shares of GigPeak in a research report on Thursday, September 15th. Finally, B. Riley reissued a “buy” rating and set a $4.50 target price on shares of GigPeak in a research report on Monday, July 25th. Twelve analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $3.87.

Shares of GigPeak (NYSE:GIG) opened at 2.65 on Friday. The stock has a market capitalization of $178.77 million and a PE ratio of 98.15. GigPeak has a one year low of $1.63 and a one year high of $3.42. The firm has a 50 day moving average price of $2.26 and a 200 day moving average price of $2.31.

GigPeak (NYSE:GIG) last released its earnings results on Monday, July 25th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm earned $15.40 million during the quarter, compared to analysts’ expectations of $15.21 million. The business’s revenue was up 57.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 EPS. Analysts predict that GigPeak will post $0.18 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in GIG. Spark Investment Management LLC boosted its stake in GigPeak by 92.4% in the first quarter. Spark Investment Management LLC now owns 495,600 shares of the company’s stock valued at $1,338,000 after buying an additional 238,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in GigPeak by 3.5% in the first quarter. Geode Capital Management LLC now owns 195,261 shares of the company’s stock valued at $527,000 after buying an additional 6,690 shares in the last quarter. Barclays PLC boosted its stake in GigPeak by 863.4% in the first quarter. Barclays PLC now owns 168,600 shares of the company’s stock valued at $338,000 after buying an additional 151,100 shares in the last quarter. Perkins Capital Management Inc. bought a new stake in GigPeak during the second quarter valued at approximately $135,000. Finally, WealthTrust Axiom LLC boosted its stake in GigPeak by 41.3% in the second quarter. WealthTrust Axiom LLC now owns 230,754 shares of the company’s stock valued at $452,000 after buying an additional 67,500 shares in the last quarter.

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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