GigOptix (GIG) : Traders are bullish on GigOptix (GIG) as it has outperformed the S&P 500 by a wide margin of 2.97% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 10.64%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 11.11% in the last 1 week, and is up 5.53% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
GigOptix (NYSEMKT:GIG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $2.01 and $2.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $2.10. The buying momentum continued till the end and the stock did not give up its gains. It closed at $2.10, notching a gain of 5.00% for the day. The total traded volume was 904,245 . The stock had closed at $2.00 on the previous day.
The stock has recorded a 20-day Moving Average of 4.45% and the 50-Day Moving Average is 3.52%. GigPeak, Inc. has dropped 3.23% during the last 3-month period . Year-to-Date the stock performance stands at -30.92%.
GigOptix (GIG) : The highest level GigOptix (GIG) is projected to reach is $5 for the short term and the lowest estimate is at $3. The consolidated price target from 8 rating analysts who initiate coverage on the stock is $3.63 and the possibility the share price can swing is $0.52.
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.