Sigma Designs, Inc. (SIGM) Given Hold Rating at Needham & Company LLC
Sigma Designs, Inc. (NASDAQ:SIGM)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Friday.
Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Sigma Designs from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Robert W. Baird reissued an “outperform” rating and set a $8.00 price target on shares of Sigma Designs in a research report on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Sigma Designs currently has an average rating of “Hold” and an average target price of $7.70.
Shares of Sigma Designs (SIGM) traded down 1.63% during trading on Friday, hitting $6.05. 193,788 shares of the stock were exchanged. Sigma Designs has a 52 week low of $5.20 and a 52 week high of $8.60. The firm’s market capitalization is $231.09 million. The stock’s 50 day moving average price is $6.28 and its 200 day moving average price is $6.09.
Sigma Designs (NASDAQ:SIGM) last announced its quarterly earnings data on Thursday, September 7th. The semiconductor company reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.04. The business had revenue of $39.50 million during the quarter, compared to analysts’ expectations of $39.63 million. Sigma Designs had a negative net margin of 12.15% and a negative return on equity of 10.46%. Sigma Designs’s revenue for the quarter was down 35.6% on a year-over-year basis. During the same period last year, the company posted $0.07 EPS. On average, equities analysts predict that Sigma Designs will post ($0.57) earnings per share for the current year.
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In other news, major shareholder Soros Fund Management Llc purchased 82,083 shares of the company’s stock in a transaction on Thursday, June 29th. The stock was acquired at an average price of $5.85 per share, with a total value of $480,185.55. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 629,368 shares of company stock valued at $3,647,515 in the last three months. 4.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SIGM. Strs Ohio bought a new position in Sigma Designs in the 2nd quarter worth $101,000. Ameriprise Financial Inc. bought a new position in Sigma Designs in the 2nd quarter worth $102,000. Global X Management Co. LLC raised its holdings in Sigma Designs by 30.5% in the 2nd quarter. Global X Management Co. LLC now owns 17,758 shares of the semiconductor company’s stock worth $104,000 after purchasing an additional 4,151 shares in the last quarter. Voya Investment Management LLC raised its holdings in Sigma Designs by 26.2% in the 2nd quarter. Voya Investment Management LLC now owns 19,735 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 4,097 shares in the last quarter. Finally, American International Group Inc. raised its holdings in Sigma Designs by 7.1% in the 1st quarter. American International Group Inc. now owns 22,075 shares of the semiconductor company’s stock worth $138,000 after purchasing an additional 1,458 shares in the last quarter. Institutional investors and hedge funds own 61.45% 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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