GigPeak Inc (GIG) to Release Earnings on Monday
GigPeak Inc (NYSE:GIG) will be posting its Q316 quarterly earnings results on Monday, October 17th. Analysts expect GigPeak to post earnings of $0.04 per share and revenue of $15.52 million for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.
GigPeak (NYSE:GIG) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The business had revenue of $15.40 million for the quarter, compared to the consensus estimate of $15.21 million. GigPeak’s quarterly revenue was up 57.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS. On average, analysts expect GigPeak to post $0.18 EPS for the current fiscal year and $0.21 EPS for the next fiscal year.
Shares of GigPeak Inc (NYSE:GIG) opened at 2.65 on Friday. The company has a market cap of $178.77 million and a price-to-earnings ratio of 98.15. The company’s 50-day moving average price is $2.26 and its 200 day moving average price is $2.31. GigPeak Inc has a 1-year low of $1.63 and a 1-year high of $3.42.
Several equities analysts have recently commented on the stock. TheStreet upgraded shares of GigPeak from a “hold” rating to a “buy” rating in a report on Tuesday, October 4th. Zacks Investment Research upgraded shares of GigPeak from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a report on Wednesday, September 21st. Needham & Company LLC reiterated a “buy” rating and set a $3.50 target price on shares of GigPeak in a report on Tuesday, September 20th. Cowen and Company reiterated an “outperform” rating and set a $3.00 target price on shares of GigPeak in a report on Thursday, September 15th. Finally, B. Riley reiterated a “buy” rating and set a $4.50 target price on shares of GigPeak in a report on Monday, July 25th. Twelve investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $3.87.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Advisors Inc. bought a new position in GigPeak during the second quarter worth approximately $141,000. TFS Capital LLC increased its position in GigPeak by 49.3% in the second quarter. TFS Capital LLC now owns 84,747 shares of the company’s stock worth $166,000 after buying an additional 27,992 shares during the period. BlackRock Investment Management LLC increased its position in GigPeak by 3,132.1% in the second quarter. BlackRock Investment Management LLC now owns 193,184 shares of the company’s stock worth $379,000 after buying an additional 187,207 shares during the period. AQR Capital Management LLC bought a new position in GigPeak during the second quarter worth approximately $556,000. Finally, Penn Capital Management Co. Inc. bought a new position in GigPeak during the second quarter worth approximately $745,000.
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.
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