GigOptix Inc (GIG) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their Clients and Investors in a research report released on Feb 14, 2017.
On the company’s financial health, GigOptix Inc reported $0.05 EPS for the quarter, based on the information available during the earnings call on Jan 17, 2017. Analyst had a consensus estimate of $0.05. The company had revenue of $16.20 million for the quarter, compared to analysts expectations of $16.14 million. The company’s revenue was up 45.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.
Several company insiders have filed Insider transactions , 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 opened for trading at $2.51 and hit $2.56 on the upside on Friday, eventually ending the session at $2.52, with a gain of 0.80% or 0.02 points. The heightened volatility saw the trading volume jump to 4,15,741 shares. Company has a market cap of $171 M.
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.