Raymond James Downgrades GigOptix Inc to Market Perform

Brokerage firm Raymond James Downgrades its rating on GigOptix Inc(GIG). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by the stock financial advisor at Raymond James was issued on Feb 14, 2017 in a research report to their Investors and Clients.

GigOptix Inc (GIG) made into the market gainers list on Wednesdays trading session with the shares advancing 0.33% or 0.01 points. Due to strong positive momentum, the stock ended at $3.06, which is also near the day’s high of $3.06. The stock began the session at $3.05 and the volume stood at 10,86,116 shares. The 52-week high of the shares is $3.06 and the 52 week low is $1.63. The company has a current market capitalization of $206 M and it has 6,74,21,437 shares in outstanding.

GigOptix Inc(GIG) last announced its earnings results on Feb 13, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $16.217M. Analysts had an estimated revenue of $16.180M. Earnings per share were $0.05. Analysts had estimated an EPS of $0.05.

Several Insider Transactions has been reported to the SEC. On Jun 14, 2016, Raluca Dinu (Chief Operating Officer) sold 54,000 shares at $2.00 per share price.Also, 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.

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