GigPeak Inc (NYSE:GIG) posted its quarterly earnings results on Monday. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The company earned $15.80 million during the quarter, compared to analyst estimates of $15.52 million. The company’s revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.06 earnings per share.

GigPeak (NYSE:GIG) traded up 2.76% during trading on Monday, hitting $2.61. 862,182 shares of the stock traded hands. GigPeak has a one year low of $1.63 and a one year high of $3.42. The company has a 50-day moving average price of $2.27 and a 200 day moving average price of $2.30. The stock has a market cap of $176.07 million and a PE ratio of 96.67.

Earnings History for GigPeak (NYSE:GIG)

Several analysts recently issued reports on GIG shares. Zacks Investment Research raised shares of GigPeak from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a report on Wednesday, September 21st. TheStreet cut shares of GigPeak from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.50 price target on shares of GigPeak in a report on Tuesday, July 26th. Cowen and Company reaffirmed an “outperform” rating and issued a $3.00 price target (down from $4.00) on shares of GigPeak in a report on Tuesday, June 28th. Finally, B. Riley reaffirmed a “buy” rating and issued a $4.50 price target on shares of GigPeak in a report on Wednesday, July 20th. Twelve equities research analysts have rated the stock with a buy rating, GigPeak currently has a consensus rating of “Buy” and a consensus target price of $3.87.

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in shares of GigPeak by 79.1% in the second quarter. Dimensional Fund Advisors LP now owns 677,845 shares of the company’s stock valued at $1,329,000 after buying an additional 299,451 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of GigPeak by 45.8% in the second quarter. Vanguard Group Inc. now owns 1,876,050 shares of the company’s stock valued at $3,677,000 after buying an additional 589,612 shares during the last quarter. BlackRock Investment Management LLC increased its stake in shares of GigPeak by 3,132.1% in the second quarter. BlackRock Investment Management LLC now owns 193,184 shares of the company’s stock valued at $379,000 after buying an additional 187,207 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of GigPeak by 1,417.2% in the second quarter. BlackRock Fund Advisors now owns 1,205,058 shares of the company’s stock valued at $2,362,000 after buying an additional 1,125,631 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of GigPeak by 110.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 844,117 shares of the company’s stock valued at $1,654,000 after buying an additional 442,311 shares during the last quarter.

About GigPeak

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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