Sigma Designs, Inc. (SIGM) Receives Average Recommendation of “Hold” from Analysts
Shares of Sigma Designs, Inc. (NASDAQ:SIGM) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $7.50.
Several equities analysts have recently weighed in on SIGM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Sigma Designs in a research note on Wednesday, June 7th. Robert W. Baird reaffirmed an “outperform” rating and set a $8.00 price target on shares of Sigma Designs in a research note on Wednesday, June 7th. Finally, Zacks Investment Research raised shares of Sigma Designs from a “sell” rating to a “hold” rating in a research note on Friday, August 4th.
Sigma Designs (SIGM) traded up 1.72% during mid-day trading on Friday, reaching $5.90. 1,013,286 shares of the company’s stock were exchanged. The company’s market cap is $227.24 million. Sigma Designs has a 52-week low of $5.20 and a 52-week high of $8.53. The stock has a 50-day moving average price of $6.21 and a 200 day moving average price of $6.08.
Sigma Designs (NASDAQ:SIGM) last issued its quarterly earnings results on Thursday, September 7th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The business had revenue of $39.50 million for the quarter, compared to the consensus estimate of $39.63 million. Sigma Designs had a negative return on equity of 18.73% and a negative net margin of 19.53%. Sigma Designs’s revenue was down 35.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 earnings per share. Equities analysts predict that Sigma Designs will post ($0.81) earnings per share for the current fiscal year.
In other news, major shareholder Soros Fund Management Llc bought 65,625 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average cost of $5.86 per share, with a total value of $384,562.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders purchased 702,203 shares of company stock valued at $4,074,112 over the last three months. 4.50% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. American International Group Inc. grew its stake 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 valued at $138,000 after buying an additional 1,458 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Sigma Designs by 4.6% in the second quarter. Rhumbline Advisers now owns 46,022 shares of the semiconductor company’s stock valued at $269,000 after buying an additional 2,026 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Sigma Designs by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 148,481 shares of the semiconductor company’s stock valued at $928,000 after buying an additional 3,970 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Sigma Designs by 26.2% in the second quarter. Voya Investment Management LLC now owns 19,735 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 4,097 shares in the last quarter. Finally, Global X Management Co. LLC grew its stake in shares of Sigma Designs by 30.5% in the second quarter. Global X Management Co. LLC now owns 17,758 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 4,151 shares in the last quarter. 61.45% of the stock is owned by institutional investors and hedge funds.
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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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