Insider Selling: Sigma Designs Director Unloads 278,797 Shares of Stock (SIGM)
Sigma Designs (NASDAQ:SIGM) Director Eric Singer sold 278,797 shares of the company’s stock on the open market in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $6.13, for a total value of $1,709,025.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at BWS Financial upgraded shares of Sigma Designs (NASDAQ:SIGM) from a “hold” rating to a “buy” rating in a research note to investors on Friday, September 6th. They now have a $9.00 price target on the stock, up previously from $6.00. Analysts at Needham & Company raised their price target on shares of Sigma Designs (NASDAQ:SIGM) from $6.00 to $7.00 in a research note to investors on Thursday, September 5th. They now have a “buy” rating on the stock.
Shares of Sigma Designs (NASDAQ:SIGM) traded up 2.18% on Wednesday, hitting $6.09. 199,390 shares of the company’s stock traded hands. Sigma Designs has a 1-year low of $4.30 and a 1-year high of $6.78. The stock has a 50-day moving average of $5.31 and a 200-day moving average of $5.0. The company’s market cap is $207.8 million.
Sigma Designs (NASDAQ:SIGM) last released its earnings data on Wednesday, September 4th. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.01 by $0.05. The company had revenue of $53.76 million for the quarter, compared to the consensus estimate of $52.98 million. During the same quarter last year, the company posted ($0.12) earnings per share. Sigma Designs’s revenue was down 21.2% compared to the same quarter last year. Analysts expect that Sigma Designs will post $0.24 EPS for the current fiscal year.
Sigma Designs, Inc (NASDAQ:SIGM) is a provider of system-on-chip (SoC) solutions.
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