ValuEngine Upgrades Sigma Designs (NASDAQ:SIGM) to Hold

Sigma Designs (NASDAQ:SIGM) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Sunday, December 31st.

Several other analysts have also recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Sigma Designs in a research report on Friday, December 8th. Lake Street Capital cut 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 reaffirmed a “hold” rating on shares of Sigma Designs in a research report on Friday, December 8th. Craig Hallum lowered Sigma Designs from a “buy” rating to a “hold” rating in a report on Friday, December 8th. Finally, Zacks Investment Research upgraded Sigma Designs from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $7.53.

Shares of Sigma Designs (SIGM) opened at $6.97 on Friday. The firm has a market capitalization of $270.22, a price-to-earnings ratio of -4.84 and a beta of 1.08. Sigma Designs has a one year low of $5.40 and a one year high of $7.00.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new position in Sigma Designs during the second quarter valued at about $101,000. Ameriprise Financial Inc. bought a new position in Sigma Designs during the second quarter valued at about $102,000. Voya Investment Management LLC raised its holdings in Sigma Designs by 26.2% during the second quarter. Voya Investment Management LLC now owns 19,735 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 4,097 shares in the last quarter. Alliancebernstein L.P. bought a new position in Sigma Designs during the second quarter valued at about $150,000. Finally, Sii Investments Inc. WI bought a new position in Sigma Designs during the third quarter valued at about $151,000. Institutional investors own 63.19% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sigma Designs (NASDAQ:SIGM)

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