Today, GigPeak Inc (GIG) Short Interest Update

Today, GigPeak Inc (GIG) Short Interest Update

GigPeak Inc (NYSE:GIG) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 2,338,290 shares, a decline of 14.4% from the October 31st total of 2,730,309 shares. Approximately 3.9% of the shares of the company are sold short. Based on an average daily volume of 557,306 shares, the days-to-cover ratio is currently 4.2 days.

GigPeak (NYSE:GIG) opened at 2.85 on Friday. The firm has a market capitalization of $193.05 million and a price-to-earnings ratio of 237.50. The stock’s 50 day moving average price is $2.56 and its 200-day moving average price is $2.29. 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 results on Monday, October 17th. The company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. The company earned $15.80 million during the quarter, compared to the consensus estimate of $15.52 million. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. On average, equities research analysts expect that GigPeak will post $0.19 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. G2 Investment Partners Management LLC increased its position in GigPeak by 21.4% in the third quarter. G2 Investment Partners Management LLC now owns 577,602 shares of the company’s stock worth $1,357,000 after buying an additional 101,780 shares in the last quarter. Northern Trust Corp increased its position in GigPeak by 11.0% in the third quarter. Northern Trust Corp now owns 527,139 shares of the company’s stock worth $1,238,000 after buying an additional 52,438 shares in the last quarter. California State Teachers Retirement System increased its position in GigPeak by 26.8% in the third quarter. California State Teachers Retirement System now owns 123,476 shares of the company’s stock worth $290,000 after buying an additional 26,100 shares in the last quarter. Cowen Prime Services LLC increased its position in GigPeak by 68.1% in the third quarter. Cowen Prime Services LLC now owns 53,800 shares of the company’s stock worth $126,000 after buying an additional 21,800 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in GigPeak by 5.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 888,671 shares of the company’s stock worth $2,088,000 after buying an additional 44,554 shares in the last quarter.

GIG has been the subject of several analyst reports. Zacks Investment Research upgraded GigPeak from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a report on Wednesday, September 21st. TheStreet lowered GigPeak from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. Cowen and Company restated an “outperform” rating and issued a $3.00 target price on shares of GigPeak in a report on Thursday, September 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $3.50 target price on shares of GigPeak in a report on Tuesday, September 20th. Twelve equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $3.87.

GigPeak Company Profile

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