Sigma Designs, Inc. (NASDAQ:SIGM) Given Average Rating of “Hold” by Analysts
Shares of Sigma Designs, Inc. (NASDAQ:SIGM) have been assigned an average rating of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $7.50.
Several equities analysts recently weighed in on SIGM shares. Robert W. Baird reiterated an “outperform” rating and set a $8.00 target price on shares of Sigma Designs in a research report on Wednesday, June 7th. Lake Street Capital upgraded Sigma Designs from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Thursday, March 30th. Zacks Investment Research downgraded Sigma Designs from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sigma Designs in a research report on Wednesday, June 7th.
In other news, major shareholder Soros Fund Management Llc bought 400,000 shares of Sigma Designs stock in a transaction dated Thursday, June 8th. The shares were purchased at an average cost of $5.80 per share, with a total value of $2,320,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders bought 1,029,368 shares of company stock worth $5,967,515 over the last ninety days. Insiders own 4.50% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Soros Fund Management LLC boosted its stake in shares of Sigma Designs by 136.2% in the first quarter. Soros Fund Management LLC now owns 3,700,000 shares of the semiconductor company’s stock valued at $23,125,000 after buying an additional 2,133,334 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Sigma Designs during the fourth quarter valued at $830,000. Renaissance Technologies LLC boosted its stake in shares of Sigma Designs by 6.8% in the first quarter. Renaissance Technologies LLC now owns 1,893,200 shares of the semiconductor company’s stock valued at $11,833,000 after buying an additional 120,100 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sigma Designs by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,116,796 shares of the semiconductor company’s stock valued at $18,701,000 after buying an additional 119,654 shares during the last quarter. Finally, Alambic Investment Management L.P. boosted its stake in shares of Sigma Designs by 37.7% in the first quarter. Alambic Investment Management L.P. now owns 326,183 shares of the semiconductor company’s stock valued at $2,039,000 after buying an additional 89,388 shares during the last quarter. 60.37% of the stock is currently owned by institutional investors.
Sigma Designs (SIGM) traded down 0.76% during mid-day trading on Friday, hitting $6.50. The company had a trading volume of 113,917 shares. The firm’s 50 day moving average is $6.00 and its 200 day moving average is $6.10. Sigma Designs has a 52 week low of $5.20 and a 52 week high of $8.60. The company’s market capitalization is $248.27 million.
Sigma Designs (NASDAQ:SIGM) last released its earnings results on Tuesday, June 6th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.04. The company had revenue of $39.60 million for the quarter, compared to analysts’ expectations of $39.50 million. Sigma Designs had a negative net margin of 12.15% and a negative return on equity of 11.77%. Sigma Designs’s revenue for the quarter was down 26.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) earnings per share. On average, equities research analysts predict that Sigma Designs will post ($0.59) EPS for the current year.
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About Sigma Designs
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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