Sigma Designs Inc (NASDAQ:SIGM) was the recipient of a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 481,778 shares, a decline of 46.1% from the December 15th total of 894,314 shares. Based on an average daily trading volume, of 362,851 shares, the short-interest ratio is presently 1.3 days. Approximately 1.3% of the shares of the company are short sold.

Sigma Designs (NASDAQ:SIGM) opened at $6.97 on Monday. Sigma Designs has a 12 month low of $5.40 and a 12 month high of $7.00. The company has a market capitalization of $270.54, a P/E ratio of -4.84 and a beta of 1.08.

Sigma Designs (NASDAQ:SIGM) last posted its quarterly earnings data on Thursday, December 7th. The semiconductor company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.18). Sigma Designs had a negative net margin of 35.55% and a negative return on equity of 30.17%. The firm had revenue of $33.86 million during the quarter, compared to analysts’ expectations of $38.70 million.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Sigma Designs from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Benchmark restated a “hold” rating on shares of Sigma Designs in a research note on Friday, December 8th. ValuEngine upgraded Sigma Designs from a “sell” rating to a “hold” rating in a research note on Saturday, December 9th. Lake Street Capital downgraded Sigma Designs from a “buy” rating to a “hold” rating and set a $7.05 price objective on the stock. in a research note on Friday, December 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sigma Designs in a research note on Friday, December 8th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Sigma Designs currently has an average rating of “Hold” and a consensus target price of $7.53.

A number of institutional investors have recently bought and sold shares of SIGM. Rhumbline Advisers lifted its stake in 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 purchasing an additional 2,026 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Sigma Designs by 5.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 156,553 shares of the semiconductor company’s stock valued at $916,000 after acquiring an additional 8,072 shares during the period. Alliancebernstein L.P. bought a new stake in Sigma Designs during the 2nd quarter valued at $150,000. Teachers Advisors LLC raised its holdings in Sigma Designs by 26.0% during the 2nd quarter. Teachers Advisors LLC now owns 73,937 shares of the semiconductor company’s stock valued at $433,000 after acquiring an additional 15,249 shares during the period. Finally, TIAA CREF Investment Management LLC raised its holdings in Sigma Designs by 30.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 116,961 shares of the semiconductor company’s stock valued at $684,000 after acquiring an additional 26,967 shares during the period. Institutional investors and hedge funds own 63.19% of the company’s stock.

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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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