Zacks Investment Research upgraded shares of Sigma Designs, Inc. (NASDAQ:SIGM) from a sell rating to a hold rating in a report released on Thursday morning.
According to Zacks, “Sigma Designs, Inc designs, manufactures (using subcontractors) and markets multimedia products for use with personal computers. Through their REALmagic product line incorporating Moving Picture Experts Group (MPEG) technology, they has become a leader in this emerging market. “
Separately, Needham & Company LLC restated a hold rating on shares of Sigma Designs in a report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $7.50.
Shares of Sigma Designs (SIGM) remained flat at $$5.90 during mid-day trading on Thursday. 137,200 shares of the company traded hands, compared to its average volume of 251,245. Sigma Designs has a twelve month low of $5.20 and a twelve month high of $8.35.
Sigma Designs (NASDAQ:SIGM) last announced its quarterly earnings data on Thursday, September 7th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). The business had revenue of $39.50 million during the quarter, compared to analyst estimates of $39.63 million. Sigma Designs had a negative net margin of 19.53% and a negative return on equity of 18.73%. The company’s revenue for the quarter was down 35.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. research analysts forecast that Sigma Designs will post -0.92 earnings per share for the current fiscal year.
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In other news, major shareholder Soros Fund Management Llc purchased 32,123 shares of the stock in a transaction on Friday, September 15th. The stock was bought at an average price of $5.82 per share, for a total transaction of $186,955.86. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have acquired a total of 104,958 shares of company stock valued at $613,553 in the last quarter. 4.50% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew 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 in the last quarter. Menta Capital LLC lifted its position in shares of Sigma Designs by 115.6% during the 2nd quarter. Menta Capital LLC now owns 168,888 shares of the semiconductor company’s stock worth $988,000 after buying an additional 90,548 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Sigma Designs by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 148,481 shares of the semiconductor company’s stock worth $928,000 after buying an additional 3,970 shares during the last quarter. Royce & Associates LP lifted its position in shares of 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 buying an additional 155,200 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Sigma Designs by 11.3% during the 1st quarter. Geode Capital Management LLC now owns 301,403 shares of the semiconductor company’s stock worth $1,883,000 after buying an additional 30,704 shares during the last quarter. Institutional investors own 60.61% of the company’s stock.
About Sigma Designs
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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