GigOptix Inc (GIG) is Initiated by Needham to Buy, Price Target at $3.50

GigOptix Inc (GIG) was Initiated by Needham to “Buy” and the brokerage firm has set the Price Target at $3.50. Needham advised their investors in a research report released on Jun 14, 2016.

On the company’s financial health, GigOptix Inc reported $0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 18, 2016. Analyst had a consensus of $0.04. The company had revenue of $11.40 million for the quarter, compared to analysts expectations of $11.13 million. The company’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

GigOptix Inc closed down -0.46 points or -17.56% at $2.16 with 68,19,907 shares getting traded on Friday. Post opening the session at $2.09, the shares hit an intraday low of $2.07 and an intraday high of $2.23 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Feb 12, 2016, Kimberly D C Trapp (director) sold 30,000 shares at $2.11 per share price. According to the SEC, on Nov 23, 2015, John J Mikulsky (director) sold 40,000 shares at $2.28 per share price. On Aug 25, 2015, Avi S Katz (President and CEO) sold 250,000 shares at $1.70 per share price, according to the Form-4 filing with the securities and exchange commission.

GigOptix Inc. (GigOptix) is a fabless supplier of semiconductor and optical components that enable high-speed end-to-end information streaming over the network and address emerging high-growth opportunities in the communications industrial defense and avionics industries. The business is made up of two product lines: the High-Speed Communications (HSC) product line and the Industrial product line. The Company offers an array of high performance MMIC solutions that enable next generation wireless microwave systems up to 90GHz and drivers TIAs and TFPS optical modulators for 40G and 100G fiber-optic telecommunications and data-communications networks. It also offers a wide range of digital and mixed-signal ASIC solutions.

GigOptix Inc

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