Sigma Designs Inc (SIGM) Receives Average Rating of “Hold” from Brokerages

Sigma Designs Inc (NASDAQ:SIGM) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $7.53.

A number of brokerages recently commented on SIGM. ValuEngine raised Sigma Designs from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Sigma Designs in a research report on Friday, December 8th. Lake Street Capital lowered Sigma Designs from a “buy” rating to a “hold” rating and set a $7.05 target price for the company. in a research report on Friday, December 8th. Benchmark reiterated a “hold” rating on shares of Sigma Designs in a research note on Friday, December 8th. Finally, Craig Hallum downgraded Sigma Designs from a “buy” rating to a “hold” rating in a research note on Friday, December 8th.

Shares of Sigma Designs (NASDAQ:SIGM) remained flat at $$6.95 during trading on Friday. 376,700 shares of the stock were exchanged, compared to its average volume of 453,367. Sigma Designs has a 12-month low of $5.40 and a 12-month high of $7.00. The firm has a market capitalization of $269.57, a P/E ratio of -4.83 and a beta of 1.08.

Sigma Designs (NASDAQ:SIGM) last issued its earnings results on Thursday, December 7th. The semiconductor company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $38.70 million.

Hedge funds have recently added to or reduced their stakes in the business. Menta Capital LLC boosted its stake in Sigma Designs by 115.6% during the 2nd quarter. Menta Capital LLC now owns 168,888 shares of the semiconductor company’s stock valued at $988,000 after purchasing an additional 90,548 shares during the last quarter. Uniplan Investment Counsel Inc. acquired a new position in Sigma Designs during the 3rd quarter valued at about $5,314,000. State Street Corp boosted its stake in Sigma Designs by 10.4% during the 2nd quarter. State Street Corp now owns 607,081 shares of the semiconductor company’s stock valued at $3,553,000 after purchasing an additional 57,300 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in Sigma Designs during the 3rd quarter valued at about $256,000. Finally, Ironwood Investment Management LLC boosted its stake in Sigma Designs by 205.8% during the 3rd quarter. Ironwood Investment Management LLC now owns 97,058 shares of the semiconductor company’s stock valued at $611,000 after purchasing an additional 65,324 shares during the last quarter. 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.

Analyst Recommendations for Sigma Designs (NASDAQ:SIGM)

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