Sigma Designs (SIGM) Posts Quarterly Results
Sigma Designs (NASDAQ:SIGM) posted its quarterly earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01, Analyst Ratings Network.com reports. The company had revenue of $36.90 million for the quarter, compared to the consensus estimate of $36.93 million. During the same quarter in the previous year, the company posted $0.01 earnings per share.
Shares of Sigma Designs (NASDAQ:SIGM) traded up 5.22% during mid-day trading on Wednesday, hitting $4.03. 1,009,114 shares of the company’s stock traded hands. Sigma Designs has a one year low of $3.28 and a one year high of $6.70. The stock has a 50-day moving average of $3.64 and a 200-day moving average of $4.54. The company’s market cap is $138.8 million. Sigma Designs also was the target of a significant growth in short interest during the month of May. As of May 30th, there was short interest totalling 1,661,125 shares, a growth of 27.9% from the May 15th total of 1,299,011 shares. Based on an average daily volume of 767,084 shares, the days-to-cover ratio is presently 2.2 days. Currently, 5.0% of the shares of the stock are short sold.
SIGM has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Sigma Designs from an “underperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $3.60 price target on the stock. Finally, analysts at Edison Investment Research reiterated a “neutral” rating on shares of Sigma Designs in a research note on Wednesday, March 26th.
Sigma Designs, Inc (NASDAQ:SIGM) is a provider of system-on-chip (SoC) solutions.
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