GigOptix (GIG) is a fabless supplier of semiconductor components that enable high speed information streaming over network infrastructures. This stock closed up 2.9% to $1.42 in Thursday's trading session.
Thursday's Range: $1.36-$1.45
52-Week Range: $0.83-$2.17
Thursday's Volume: 46,000
Three-Month Average Volume: 76,148
From a technical perspective, GIG trended modestly higher here right above some near-term support at $1.35 with lighter-than-average volume. This stock has been uptrending strong for the last two months, with shares soaring higher from its low of 90 cents per share to its recent high of $1.54. During that uptrend, shares of GIG have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of GIG within range of triggering a big breakout trade. That trade will hit if GIG manages to take out some key overhead resistance levels at $1.54 to $1.60 with high volume.
Traders should now look for long-biased trades in GIG as long as it's trending above its 200-day at $1.24 or above more support at $1.22 and then once it sustains a move or close above those breakout levels with volume that hits near or above 76,148 shares. If that breakout triggers soon, then GIG will set up to re-test or possibly take out its next major overhead resistance levels at $1.88 to $2.10.
Sentiment: Strong Buy
GigOptix Reports Third Quarter Fiscal 2013 Financial ResultsFont size: A | A | A
4:05 PM ET 10/28/13 | BusinessWire
3:50 PM ET 10/30/13
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--Non-GAAP gross margin of 62 percent
--GAAP net income of $3.5 million, or $0.16 per diluted share, due to the $7.25 million one-time litigation settlement
--Cash and cash equivalent balance at September 29, 2013 of $15.3 million
--Non-GAAP net loss of $0.7 million, or ($0.03) per share, due to an additional $0.6 million in R&D wafer tape-out related expenses associated with the Company's joint development programs (JDP)
--Revenue expected to increase approximately 5 percent in Q4 FY 13; non-GAAP bottom line results and Adjusted EBITDA expected to improve
GigOptix, Inc. (NYSE MKT: GIG), a leading supplier of advanced semiconductor communications components for use in Cloud connectivity, data centers, and high-speed optical and wireless networks, today announced financial results for its third quarter of fiscal year 2013, which ended September 29, 2013.
Third Quarter Fiscal 2013 GAAP Results
Total revenue in the third quarter of fiscal 2013 was $7.3 million. This compares with revenue of $10.1 million in the third quarter of fiscal 2012 and $6.8 million in the second quarter of fiscal 2013.
Gross margin was 59 percent in the third quarter of fiscal 2013, compared with 52 percent in the third quarter of fiscal 2012, and 62 percent in the second quarter of fiscal 2013.
Net income was $3.5 million, or net income of $0.16 per diluted share, in the third quarter of fiscal 2013. The third quarter GAAP results were positively impacted by a net gain of approximately $5.7 million pertaining to a litigation settlement partially offset by an additional approximately $0.6 million in R&D wafer tape-out related expenses associated with the Company's JDP. The third quarter results compare with a net loss of $1.5 million, or a net loss of ($0.07) per share, in the third
Sentiment: Strong Buy
Stocks are tanking today but PKT managed to eke out a gain. Trading more than doubles today, Friday. The last trading day of the week. Hmmm. I don't mean to start a rumor here but I would definitely pay close attention to trades before the market opens on Monday.