The stock of GigPeak Inc (NYSEMKT:GIG) is a huge mover today! The stock increased 3.07% or $0.07 during the last trading session, hitting $2.35. About 458,179 shares traded hands or 5.45% up from the average. GigPeak Inc (NYSEMKT:GIG) has declined 10.24% since February 26, 2016 and is downtrending. It has underperformed by 20.66% the S&P500.
The move comes after 9 months positive chart setup for the $157.16 million company. It was reported on Oct, 1 by Barchart.com. We have $3.31 PT which if reached, will make NYSEMKT:GIG worth $64.44 million more.
Analysts await GigPeak Inc (NYSEMKT:GIG) to report earnings on October, 17. They expect $0.02 EPS, down 50.00% or $0.02 from last year’s $0.04 per share. GIG’s profit will be $1.34M for 29.38 P/E if the $0.02 EPS becomes a reality. After $0.03 actual EPS reported by GigPeak Inc for the previous quarter, Wall Street now forecasts -33.33% negative EPS growth.
GigPeak Inc (NYSEMKT:GIG) Ratings Coverage
Out of 7 analysts covering GigOptix (NYSEMKT:GIG), 7 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. GigOptix has been the topic of 13 analyst reports since July 28, 2015 according to StockzIntelligence Inc. Sterne Agee CRT initiated the shares of GIG in a report on Friday, December 4 with “Buy” rating. The stock of GigPeak Inc (NYSEMKT:GIG) earned “Outperform” rating by Cowen & Co on Monday, August 31. The firm earned “Buy” rating on Tuesday, June 14 by Needham. The company was maintained on Tuesday, January 5 by Barrington Research. The stock has “Buy” rating given by TH Capital on Tuesday, January 5. Cowen & Co maintained it with “Outperform” rating and $3 target price in Tuesday, June 28 report. Northland Capital initiated GigPeak Inc (NYSEMKT:GIG) rating on Tuesday, October 6. Northland Capital has “Outperform” rating and $3 price target. TH Capital maintained GigPeak Inc (NYSEMKT:GIG) rating on Tuesday, July 28. TH Capital has “Buy” rating and $4 price target. The rating was maintained by Cowen & Co on Monday, January 4 with “Outperform”.
According to Zacks Investment Research, “GigPeak, Inc. provides semiconductor ICs and software solutions. The Company’s product lines consist of High-Speed Communications product line and Industrial product line. Its product portfolio consists of fiber-optics telecom, wireless backhaul, data communication and consumer electronics, mil-aero, instrumentation and medical equipment for applications. GigPeak, Inc., formerly known as GigOptix, Inc., is headquartered in San Jose, California.”
GIG Company Profile
GigPeak, Inc., formerly GigOptix, Inc., incorporated on March 24, 2008, 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. The Companyâ€™s product portfolio provides solutions in markets, such as fiber-optics telecom, wireless backhaul, data communication and consumer electronics, mil-aero, instrumentation and medical equipment for applications, such as linecards and transponders, active optical cables and pluggables, point-to-point wireless radios, military electronic warfare systems, avionics electronics, global positioning system (GPS) systems and diverse medical equipment, such as ultrasound imaging, X-Ray, magnetic resonance imaging (MRI), computed tomography (CT) scan and defibrillators.
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