Needham & Company LLC Reiterates Hold Rating for Sigma Designs (SIGM)

Sigma Designs (NASDAQ:SIGM)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research note issued on Wednesday.

A number of other brokerages also recently commented on SIGM. ValuEngine raised Sigma Designs from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Zacks Investment Research raised Sigma Designs from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Lake Street Capital downgraded Sigma Designs from a “buy” rating to a “hold” rating and set a $7.05 price target for the company. in a report on Friday, December 8th. Benchmark reaffirmed a “hold” rating on shares of Sigma Designs in a report on Friday, December 8th. Finally, Craig Hallum downgraded Sigma Designs from a “buy” rating to a “hold” rating in a report on Friday, December 8th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $7.53.

Shares of Sigma Designs (SIGM) traded down $1.05 during trading on Wednesday, hitting $5.95. The stock had a trading volume of 5,120,073 shares, compared to its average volume of 759,956. Sigma Designs has a 1-year low of $5.40 and a 1-year high of $7.00. The firm has a market capitalization of $228.57, a P/E ratio of -4.13 and a beta of 1.08.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Sigma Designs in the fourth quarter valued at approximately $202,000. Strs Ohio boosted its holdings in Sigma Designs by 80.3% in the fourth quarter. Strs Ohio now owns 31,200 shares of the semiconductor company’s stock valued at $216,000 after purchasing an additional 13,900 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in Sigma Designs in the third quarter valued at approximately $256,000. Uniplan Investment Counsel Inc. acquired a new position in Sigma Designs in the third quarter valued at approximately $5,314,000. Finally, Royce & Associates LP boosted its holdings in Sigma Designs by 25.6% in the third quarter. Royce & Associates LP now owns 992,825 shares of the semiconductor company’s stock valued at $6,255,000 after purchasing an additional 202,218 shares in the last quarter. 63.19% of the stock is owned by hedge funds and other institutional investors.

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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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