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 seven analysts that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $7.53.

SIGM has been the topic of several analyst reports. Benchmark reiterated a “hold” rating on shares of Sigma Designs in a research note on Friday, December 8th. Craig Hallum lowered Sigma Designs from a “buy” rating to a “hold” rating in a research note on Friday, December 8th. Zacks Investment Research upgraded Sigma Designs from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Needham & Company LLC reiterated a “hold” rating on shares of Sigma Designs in a research note on Friday, December 8th. Finally, Lake Street Capital lowered 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.

Shares of Sigma Designs (NASDAQ:SIGM) remained flat at $$5.80 on Tuesday. 556,900 shares of the stock were exchanged, compared to its average volume of 778,367. Sigma Designs has a 12-month low of $5.40 and a 12-month high of $7.00. The stock has a market capitalization of $224.96, a P/E ratio of -4.03 and a beta of 0.85.

Sigma Designs (NASDAQ:SIGM) last issued its quarterly earnings results on Thursday, December 7th. The semiconductor company reported ($0.25) earnings per share (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 for the quarter, compared to the consensus estimate of $38.70 million.

Several hedge funds have recently added to or reduced their stakes in SIGM. Voya Investment Management LLC boosted its holdings in shares of Sigma Designs by 26.2% in the 2nd quarter. Voya Investment Management LLC now owns 19,735 shares of the semiconductor company’s stock worth $115,000 after acquiring an additional 4,097 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Sigma Designs by 18.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,550 shares of the semiconductor company’s stock worth $208,000 after acquiring an additional 5,611 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Sigma Designs by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 156,553 shares of the semiconductor company’s stock worth $916,000 after acquiring an additional 8,072 shares in the last quarter. Global X MANAGEMENT CO LLC boosted its holdings in shares of Sigma Designs by 65.1% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 29,314 shares of the semiconductor company’s stock worth $185,000 after acquiring an additional 11,556 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Sigma Designs by 97.4% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 26,235 shares of the semiconductor company’s stock worth $153,000 after acquiring an additional 12,947 shares in the last quarter. Institutional investors own 63.47% 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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