Brokerages Set Sigma Designs, Inc. (SIGM) Target Price at $7.50
Sigma Designs, Inc. (NASDAQ:SIGM) has been assigned an average rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $7.50.
A number of research firms have weighed in on SIGM. Zacks Investment Research cut shares of Sigma Designs from a “hold” rating to a “sell” rating in a report on Friday, September 15th. Needham & Company LLC reissued a “hold” rating on shares of Sigma Designs in a report on Friday, September 8th. Finally, Robert W. Baird reissued an “outperform” rating and set a $8.00 price objective on shares of Sigma Designs in a report on Wednesday, June 7th.
Sigma Designs (NASDAQ:SIGM) traded down 2.44% during mid-day trading on Friday, reaching $6.00. 268,407 shares of the company’s stock traded hands. Sigma Designs has a 52 week low of $5.20 and a 52 week high of $8.35. The stock’s market capitalization is $231.09 million. The stock’s 50 day moving average is $6.20 and its 200-day moving average is $6.08.
Sigma Designs (NASDAQ:SIGM) last released 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). Sigma Designs had a negative return on equity of 18.73% and a negative net margin of 19.53%. The company had revenue of $39.50 million for the quarter, compared to analyst estimates of $39.63 million. During the same period in the previous year, the business posted $0.07 EPS. The firm’s revenue for the quarter was down 35.6% compared to the same quarter last year. On average, equities analysts anticipate that Sigma Designs will post ($0.81) EPS for the current year.
In other Sigma Designs news, major shareholder Soros Fund Management Llc bought 44,505 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were acquired at an average cost of $5.61 per share, with a total value of $249,673.05. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought a total of 734,326 shares of company stock worth $4,261,068 over the last ninety days. Corporate insiders own 4.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Intellectus Partners LLC grew its position in Sigma Designs by 16.3% in the 2nd quarter. Intellectus Partners LLC now owns 99,825 shares of the semiconductor company’s stock valued at $584,000 after buying an additional 14,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Sigma Designs by 18.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,550 shares of the semiconductor company’s stock worth $208,000 after purchasing an additional 5,611 shares in the last quarter. State Street Corp boosted its position in shares of Sigma Designs by 10.4% during the 2nd quarter. State Street Corp now owns 607,081 shares of the semiconductor company’s stock worth $3,553,000 after purchasing an additional 57,300 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Sigma Designs by 26.2% during the 2nd quarter. Voya Investment Management LLC now owns 19,735 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 4,097 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Sigma Designs by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,215,759 shares of the semiconductor company’s stock worth $18,812,000 after purchasing an additional 38,299 shares in the last quarter. Hedge funds and other institutional investors own 60.98% 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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