Trading Report: Today, Needham & Company LLC Reaffirms “Buy” Rating for GigPeak Inc (GIG)

Today, Needham & Company LLC Reaffirms “Buy” Rating for GigPeak Inc (GIG)

GigPeak Inc (NYSE:GIG)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a note issued to investors on Tuesday.

Several other analysts have also recently commented on the company. TheStreet raised GigPeak from a “hold” rating to a “buy” rating in a report on Tuesday, October 4th. B. Riley reissued a “buy” rating and issued a $4.50 price target on shares of GigPeak in a report on Monday, July 25th. Cowen and Company reissued an “outperform” rating and issued a $3.00 price target on shares of GigPeak in a report on Thursday, September 15th. Finally, Zacks Investment Research cut GigPeak from a “hold” rating to a “sell” rating in a report on Monday, July 25th. Twelve investment analysts have rated the stock with a buy rating, GigPeak presently has an average rating of “Buy” and an average target price of $3.87.

Shares of GigPeak (NYSE:GIG) opened at 2.61 on Tuesday. The stock has a market capitalization of $176.07 million and a PE ratio of 96.67. GigPeak has a 12 month low of $1.63 and a 12 month high of $3.42. The company’s 50 day moving average price is $2.29 and its 200 day moving average price is $2.30.

GigPeak (NYSE:GIG) last posted its quarterly earnings data on Monday, October 17th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $15.80 million for the quarter, compared to analyst estimates of $15.52 million. During the same period in the previous year, the business posted $0.06 earnings per share. The firm’s revenue was up 51.6% compared to the same quarter last year. Equities analysts anticipate that GigPeak will post $0.18 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of GIG. Perkins Capital Management Inc. purchased a new position in shares of GigPeak during the second quarter worth $135,000. Teachers Advisors Inc. purchased a new position in shares of GigPeak during the second quarter worth $141,000. Schwab Charles Investment Management Inc. purchased a new position in shares of GigPeak during the second quarter worth $145,000. TFS Capital LLC boosted its position in shares of 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 last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in shares of GigPeak during the second quarter worth $176,000.

GigPeak Company Profile

Related posts

Leave a Comment