GigOptix Inc (GIG) reported quarterly earnings results on Monday, Jul-25-2016. The company said it had a profit of $0.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.04. The company posted revenue of $15.40 million in the period, compared to analysts expectations of $15.16 million. The company’s revenue was up 57.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.
Many Wall Street Analysts have commented on GigOptix Inc. Shares were Reiterated by Cowen on Jun 28, 2016 to “Outperform” and Lowered the Price Target to $ 3 from a previous price target of $4 .GigOptix Inc was Initiated by Raymond James to “Outperform” on Jun 16, 2016. Needham Initiated GigOptix Inc on Jun 14, 2016 to “Buy”, Price Target of the shares are set at $3.50.
GigOptix Inc opened for trading at $2.01 and hit $2.05 on the upside on Wednesday, eventually ending the session at $2.03, with a gain of 1.00% or 0.02 points. The heightened volatility saw the trading volume jump to 3,34,377 shares. Company has a market cap of $109 M.
In a different news, on Jun 14, 2016, Raluca Dinu (Chief Operating Officer) sold 54,000 shares at $2.00 per share price. According to the SEC, on Jun 14, 2016, Frank Schneider (director) sold 12,500 shares at $2.00 per share price. On Jun 14, 2016, Darren Ma (Vice President and CFO) sold 25,000 shares at $2.00 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.