Sigma Designs Inc. (NASDAQ:SIGM) Receives Average Rating of “Buy” from Analysts
Shares of Sigma Designs Inc. (NASDAQ:SIGM) have earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the firm. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $9.79.
Several brokerages recently weighed in on SIGM. Robert W. Baird reaffirmed an “outperform” rating and issued a $9.00 target price (down previously from $10.00) on shares of Sigma Designs in a report on Wednesday, September 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 target price on shares of Sigma Designs in a report on Wednesday, September 7th. Zacks Investment Research raised shares of Sigma Designs from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, BWS Financial downgraded shares of Sigma Designs from a “hold” rating to a “sell” rating and set a $6.00 price objective for the company. in a report on Thursday, September 8th.
Several hedge funds and other institutional investors have recently made changes to their positions in SIGM. KCG Holdings Inc. acquired a new position in shares of Sigma Designs during the second quarter worth approximately $114,000. Allianz Asset Management AG increased its position in shares of Sigma Designs by 7.2% in the second quarter. Allianz Asset Management AG now owns 283,809 shares of the company’s stock worth $1,825,000 after buying an additional 19,125 shares during the last quarter. Coe Capital Management LLC acquired a new position in shares of Sigma Designs during the second quarter worth approximately $417,000. Teachers Advisors Inc. increased its position in shares of Sigma Designs by 6.4% in the second quarter. Teachers Advisors Inc. now owns 54,555 shares of the company’s stock worth $351,000 after buying an additional 3,290 shares during the last quarter. Finally, PEAK6 Investments L.P. increased its position in shares of Sigma Designs by 126.1% in the second quarter. PEAK6 Investments L.P. now owns 22,943 shares of the company’s stock worth $148,000 after buying an additional 12,794 shares during the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.
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Sigma Designs (NASDAQ:SIGM) traded up 0.76% during midday trading on Monday, reaching $7.92. The company’s stock had a trading volume of 38,398 shares. The firm has a 50 day moving average price of $7.77 and a 200 day moving average price of $6.98. The firm’s market cap is $296.65 million. Sigma Designs has a one year low of $5.41 and a one year high of $10.19.
Sigma Designs (NASDAQ:SIGM) last issued its earnings results on Tuesday, September 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. The company earned $61.30 million during the quarter. Sigma Designs had a negative net margin of 4.20% and a negative return on equity of 1.31%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.12 EPS. Equities research analysts forecast that Sigma Designs will post $0.04 EPS for the current fiscal year.
Sigma Designs Company Profile
Sigma Designs, Inc is a provider of global integrated semiconductor solutions. The Company offers media platforms for use in the home entertainment and home control markets. The Company sells its products into markets, including smart television, media connectivity, set-top box and Internet of Things (IoT) devices.
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