Sigma Designs, Inc. (SIGM) Posts Earnings Results
Sigma Designs, Inc. (NASDAQ:SIGM) announced its quarterly earnings results on Tuesday. The semiconductor company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.04, Bloomberg Earnings reports. The company had revenue of $39.50 million during the quarter, compared to analyst estimates of $39.63 million. Sigma Designs had a negative net margin of 12.15% and a negative return on equity of 10.46%. The firm’s revenue for the quarter was down 35.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 EPS.
Shares of Sigma Designs (SIGM) remained flat at $6.15 during trading on Thursday. The company’s stock had a trading volume of 126,190 shares. The stock’s market cap is $234.91 million. The firm’s 50-day moving average is $6.28 and its 200 day moving average is $6.09. Sigma Designs has a 12 month low of $5.20 and a 12 month high of $8.60.
A number of brokerages have weighed in on SIGM. Needham & Company LLC reiterated a “hold” rating on shares of Sigma Designs in a report on Wednesday, June 7th. Zacks Investment Research lowered shares of Sigma Designs from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th. Finally, Robert W. Baird restated an “outperform” rating and set a $8.00 target price on shares of Sigma Designs in a report on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Sigma Designs has a consensus rating of “Hold” and a consensus target price of $8.58.
In other news, major shareholder Soros Fund Management Llc acquired 293,327 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was acquired at an average cost of $5.85 per share, with a total value of $1,715,962.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have purchased 629,368 shares of company stock valued at $3,647,515. 4.50% of the stock is owned by insiders.
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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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