Cowen Reaffirms GigPeak (GIG) at 'Outperform' Amid Record AOC Product Orders
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Cowen and Company affirms GigPeak, Inc. (NYSE: GIG) with an Outperform rating and $3 price target after the company announced that it sees a record quarter for orders for its market-leading 40 Gbps QSFP+ and 100Gbps QSFP28 ICs for active optical cables (AOCs) and optical transceiver modules demanded by the hyper-scale Web 2.0 data center customers.
Analyst Wayne Loeb said,
GIG's announcement of record Datacom shipments and orders reinforces our view on GIG's strong position and product portfolio. Record orders and shipments of 40G ICs puts a positive bias to the near-term while 100G shipments and PAM4 sampling give some visibility to a longer term Datacom runway as GIG has demonstrated a full product portfolio to support future data center applications.
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