Sigma Designs Inc (NASDAQ:SIGM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Sigma Designs, Inc designs, manufactures (using subcontractors) and markets multimedia products for use with personal computers. Through their REALmagic product line incorporating Moving Picture Experts Group (MPEG) technology, they has become a leader in this emerging market. “

A number of other equities research analysts also recently weighed in on the stock. Robert W. Baird reissued an “outperform” rating and set a $8.00 price target on shares of Sigma Designs in a research note on Thursday, March 30th. Lake Street Capital raised shares of Sigma Designs from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Thursday, March 30th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $8.58.

Analyst Recommendations for Sigma Designs (NASDAQ:SIGM)

Sigma Designs (NASDAQ:SIGM) remained flat at $6.30 on Wednesday. 118,064 shares of the company traded hands. The firm has a 50 day moving average of $6.03 and a 200 day moving average of $6.43. Sigma Designs has a 52 week low of $5.20 and a 52 week high of $8.60. The firm’s market capitalization is $240.36 million.

Sigma Designs (NASDAQ:SIGM) last posted its quarterly earnings results on Wednesday, March 29th. The semiconductor company reported ($0.16) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.16). The business had revenue of $42.70 million during the quarter, compared to the consensus estimate of $43.29 million. Sigma Designs had a negative net margin of 6.89% and a negative return on equity of 2.41%. Sigma Designs’s revenue for the quarter was down 17.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 earnings per share. On average, equities analysts anticipate that Sigma Designs will post ($0.22) earnings per share for the current fiscal year.

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In other news, major shareholder Soros Fund Management Llc acquired 223,919 shares of the firm’s stock in a transaction that occurred on Thursday, April 13th. The stock was purchased at an average price of $5.63 per share, for a total transaction of $1,260,663.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American International Group Inc. boosted its position in shares of Sigma Designs by 7.1% in the first quarter. American International Group Inc. now owns 22,075 shares of the semiconductor company’s stock worth $138,000 after buying an additional 1,458 shares in the last quarter. AXA bought a new position in Sigma Designs during the first quarter valued at $149,000. SECOR Capital Advisors LP bought a new position in Sigma Designs during the third quarter valued at $280,000. Teachers Advisors LLC boosted its position in Sigma Designs by 7.6% in the first quarter. Teachers Advisors LLC now owns 58,688 shares of the semiconductor company’s stock valued at $367,000 after buying an additional 4,133 shares during the period. Finally, GMT Capital Corp bought a new position in Sigma Designs during the first quarter valued at $381,000. Hedge funds and other institutional investors own 62.51% of the company’s stock.

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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