GigPeak Inc (NYSE:GIG)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a report released on Tuesday. They presently have a $3.50 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 50.21% from the stock’s current price.

Several other analysts also recently weighed in on the company. Cowen and Company reissued an “outperform” rating and issued a $3.00 target price on shares of GigPeak in a report on Thursday, September 15th. TheStreet cut GigPeak from a “buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Zacks Investment Research upgraded GigPeak from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. B. Riley restated a “buy” rating and issued a $4.50 price target on shares of GigPeak in a research report on Monday, July 25th. Finally, Raymond James Financial Inc. started coverage on GigPeak in a research report on Thursday, June 16th. They issued an “outperform” rating and a $3.50 price target on the stock. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $3.87.

GigPeak (NYSE:GIG) opened at 2.33 on Tuesday. The stock has a market cap of $157.18 million and a P/E ratio of 86.30. The stock has a 50 day moving average price of $2.06 and a 200 day moving average price of $2.31. GigPeak has a 52-week low of $1.63 and a 52-week high of $3.42.

GigPeak (NYSE:GIG) last posted its earnings results on Monday, July 25th. The company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The firm earned $15.40 million during the quarter, compared to analysts’ expectations of $15.21 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was up 57.1% on a year-over-year basis. On average, equities research analysts forecast that GigPeak will post $0.18 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in GIG. Vanguard Group Inc. boosted its stake in GigPeak by 45.8% in the second quarter. Vanguard Group Inc. now owns 1,876,050 shares of the company’s stock worth $3,677,000 after buying an additional 589,612 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in GigPeak by 30.3% in the second quarter. Pacific Ridge Capital Partners LLC now owns 1,503,180 shares of the company’s stock worth $2,946,000 after buying an additional 349,820 shares in the last quarter. Renaissance Technologies LLC boosted its stake in GigPeak by 17.1% in the first quarter. Renaissance Technologies LLC now owns 1,395,600 shares of the company’s stock worth $3,768,000 after buying an additional 203,512 shares in the last quarter. BlackRock Fund Advisors boosted its stake in GigPeak by 1,417.2% in the second quarter. BlackRock Fund Advisors now owns 1,205,058 shares of the company’s stock worth $2,362,000 after buying an additional 1,125,631 shares in the last quarter. Finally, Northpointe Capital LLC purchased a new stake in GigPeak during the second quarter worth $2,156,000.

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.

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