Roth Capital Assigns Buy On Shares Of Gigoptix, $3 PT
In a research report issued today, Roth Capital analyst Krishna Shankar assigned a Buy rating on Gigoptix (NYSE MKT:GIG) with a price target of $3.00.
Shankar wrote, “GIG’s 3Q14 revenues/proforma EPS results of $8.5 million/$0.02 beat our $8.3 million/$0.00 estimates with guidance for 2% sequential revenue growth. Strength in telecom and industrial ASIC business offset weakness in the RF wireless business and a slight decline in datacenter revenues. We believe that growth for 2015 will be driven by 100Gbps telecom spending, 10G/40G active optical cable drivers in datacenter, RF/wireless back haul, RF/optical line driver for consumer electronics and industrial ASIC segments.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Krishna Shankar has a total average return of 7.6% and a 44.9% success rate. Shankar is ranked #713 out of 3349 analysts.