Giga-tronics, Inc. (NASDAQ:GIGA) Enters Into Licensing Agreement With Lockheed Martin


If you are an investor in the small wireless communications technology company, Giga-tronics, Inc. (NASDAQ:GIGA), then you may have just woke up to quite the surprise today.

In a tidbit of news coming from Lockheed Martin, it was announced that Gia-tronics has entered into a strategic software licensing arrangement with the company. This partnership will allow for the development of threat simulation software that’s capable of providing advanced simulation capabilities to Lockheed’s Advanced Signal Generator Hardware Platform.

John Regazzi, President and CEO of Giga-tronics, said “Lockheed Martin was one of the initial Advanced Signal Generator customers, this partnership demonstrates their belief in its potential and capabilities.”

Shares of Giga-tronics, Inc. (NASDAQ:GIGA) are up a staggering 219%, or $2.45 in early morning trading. Shares of Lockeed Martin are up 1.61% or $3.52 after the news, hitting $222.68 per share. About 51,866 shares traded hands. LMT has risen 12.96% since April 28, 2015 and is uptrending. It has outperformed by 14.58% the S&P500.

Out of 10 analysts covering Lockheed Martin Corporation (NYSE:LMT), 5 rate it “Buy”, 1 “Sell”, while 4 “Hold”. This means 50% are positive. $237 is the highest target while $204 is the lowest. The $226 average target is 1.49% above today’s ($222.68) stock price. Lockheed Martin Corporation was the topic in 15 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Barclays Capital downgraded the stock on November 30 to “Underweight” rating. Citigroup maintained it with “Buy” rating and $232 target price in an August 19 report. Argus Research maintained the shares of LMT in a report on October 22 with “Buy” rating. Finally, Zacks upgraded the stock to “Buy” rating in a September 3 report.

The institutional sentiment increased to 1 in Q2 2015. Its up 0.04, from 0.96 in 2015Q1. The ratio is positive, as 56 funds sold all Lockheed Martin Corporation shares owned while 360 reduced positions. 95 funds bought stakes while 319 increased positions. They now own 257.34 million shares or 12.50% less from 294.10 million shares in 2015Q1.

Oakmont Corp holds 30.16% of its portfolio in Lockheed Martin Corporation for 1.12 million shares. Ruffer Llp owns 1.07 million shares or 8.66% of their US portfolio. Moreover, Majedie Asset Management Ltd has 8.32% invested in the company for 258,709 shares. The United Kingdom-based Artemis Investment Management Llp has invested 5.97% in the stock. Keating Investment Counselors Inc, a Florida-based fund reported 50,390 shares.

Since April 27, 2015, the stock had 0 buys, and 3 sales for $9.96 million net activity. King Gwendolyn S sold 200 shares worth $41,316. Tanner Bruce L sold 32,000 shares worth $6.69 million. Dewar Patrick M sold 15,453 shares worth $3.23 million. Akerson Daniel F bought 2,000 shares worth $380,318. The insider Hewson Marillyn A sold 45,700 shares worth $8.81M.

Lockheed Martin Corporation is a global security and aerospace company. The company has a market cap of $70.50 billion. The Firm is engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, services and products. It has 19.76 P/E ratio. The Firm operates in five divisions: Aeronautics, Information Systems & Global Solutions , Missiles and Fire Control (MFC), Mission Systems and Training (MST) and Space Systems.