GSA Capital Partners LLP lowered its stake in GigPeak Inc (NYSE:GIG) by 51.7% during the second quarter, Holdings Channel reports. The fund owned 111,000 shares of the company’s stock after selling 118,900 shares during the period. GSA Capital Partners LLP owned approximately 0.20% of GigPeak worth $218,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Perkins Capital Management Inc. purchased a new stake in shares of GigPeak during the second quarter worth approximately $135,000. Emerald Acquisition Ltd. purchased a new stake in shares of GigPeak during the second quarter worth approximately $176,000. California State Teachers Retirement System purchased a new stake in shares of GigPeak during the second quarter worth approximately $191,000. Bank of New York Mellon Corp boosted its stake in shares of GigPeak by 189.0% in the second quarter. Bank of New York Mellon Corp now owns 120,091 shares of the company’s stock worth $235,000 after buying an additional 78,541 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of GigPeak by 863.4% in the first quarter. Barclays PLC now owns 168,600 shares of the company’s stock worth $338,000 after buying an additional 151,100 shares in the last quarter.
GigPeak Inc (NYSE:GIG) traded up 3.07% during trading on Friday, reaching $2.35. 458,179 shares of the company were exchanged. GigPeak Inc has a one year low of $1.63 and a one year high of $3.42. The stock has a market capitalization of $158.53 million and a price-to-earnings ratio of 87.04. The firm’s 50 day moving average price is $2.11 and its 200-day moving average price is $2.31.
GigPeak (NYSE:GIG) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.05 EPS for the quarter, beating the Zacks’ 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. The business’s revenue for the quarter was up 57.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 EPS. On average, equities research analysts predict that GigPeak Inc will post $0.18 earnings per share for the current year.
A number of analysts have commented on the stock. B. Riley reiterated a “buy” rating and issued a $4.50 price target on shares of GigPeak in a research note on Monday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $3.50 price target on shares of GigPeak in a research note on Tuesday, July 26th. TheStreet cut shares of GigPeak from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. Zacks Investment Research upgraded shares of GigPeak from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $3.00 price target (down previously from $4.00) on shares of GigPeak in a research note on Tuesday, June 28th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $3.87.
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.
Want to see what other hedge funds are holding GIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GigPeak Inc (NYSE:GIG).
Receive News & Ratings for GigPeak Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GigPeak Inc and related companies with MarketBeat.com's FREE daily email newsletter.