Sigma Designs, Inc. (SIGM) Receives Average Rating of “Hold” from Brokerages
Sigma Designs, Inc. (NASDAQ:SIGM) has been given a consensus recommendation of “Hold” by the eight analysts that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $7.50.
A number of brokerages recently commented on SIGM. Zacks Investment Research cut shares of Sigma Designs from a “hold” rating to a “sell” rating in a research note on Friday, September 15th. Needham & Company LLC restated a “hold” rating on shares of Sigma Designs in a research note on Friday, September 8th.
In other news, major shareholder Soros Fund Management Llc bought 32,123 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average price of $5.82 per share, with a total value of $186,955.86. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 104,958 shares of company stock worth $613,553 in the last ninety days. 4.50% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Soros Fund Management LLC increased its holdings in Sigma Designs by 136.2% during the 1st quarter. Soros Fund Management LLC now owns 3,700,000 shares of the semiconductor company’s stock worth $23,125,000 after acquiring an additional 2,133,334 shares during the period. Dimensional Fund Advisors LP increased its holdings in Sigma Designs by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,215,759 shares of the semiconductor company’s stock worth $18,812,000 after acquiring an additional 38,299 shares during the period. Renaissance Technologies LLC increased its holdings in Sigma Designs by 6.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,893,200 shares of the semiconductor company’s stock worth $11,833,000 after acquiring an additional 120,100 shares during the period. Royce & Associates LP increased its holdings in Sigma Designs by 24.4% during the 2nd quarter. Royce & Associates LP now owns 790,607 shares of the semiconductor company’s stock worth $4,625,000 after acquiring an additional 155,200 shares during the period. Finally, State Street Corp increased its holdings in Sigma Designs by 10.4% during the 2nd quarter. State Street Corp now owns 607,081 shares of the semiconductor company’s stock worth $3,553,000 after acquiring an additional 57,300 shares during the period. 60.98% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Sigma Designs (SIGM) traded up 0.77% on Wednesday, hitting $6.55. 231,367 shares of the stock traded hands. Sigma Designs has a 52 week low of $5.20 and a 52 week high of $8.35. The stock’s market cap is $252.27 million. The stock has a 50 day moving average price of $6.17 and a 200-day moving average price of $6.12.
Sigma Designs (NASDAQ:SIGM) last announced its quarterly earnings results on Thursday, September 7th. The semiconductor company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.04). The business had revenue of $39.50 million for the quarter, compared to analysts’ expectations of $39.63 million. Sigma Designs had a negative net margin of 19.53% and a negative return on equity of 18.73%. The business’s quarterly revenue was down 35.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 earnings per share. On average, equities research analysts forecast that Sigma Designs will post ($0.81) EPS for the current year.
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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