Sigma Designs Inc. (NASDAQ:SIGM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

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. “

A number of other equities research analysts have also recently issued reports on the stock. BWS Financial cut shares of Sigma Designs from a “hold” rating to a “sell” rating and set a $6.00 price objective for the company. in a report on Thursday, September 8th. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Sigma Designs in a report on Wednesday, September 7th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $9.00 price objective (down from $10.00) on shares of Sigma Designs in a report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Sigma Designs presently has an average rating of “Buy” and an average price target of $9.38.

Sigma Designs (NASDAQ:SIGM) opened at 7.90 on Wednesday. The company has a 50-day moving average price of $7.64 and a 200-day moving average price of $7.14. Sigma Designs has a 1-year low of $5.41 and a 1-year high of $9.65. The firm’s market capitalization is $295.90 million.

Sigma Designs (NASDAQ:SIGM) last issued its quarterly earnings data on Tuesday, September 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.06. The firm earned $61.30 million during the quarter. Sigma Designs had a negative net margin of 4.20% and a negative return on equity of 1.31%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.12 earnings per share. On average, equities research analysts predict that Sigma Designs will post $0.04 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIGM. KCG Holdings Inc. raised its position in shares of Sigma Designs by 164.6% in the third quarter. KCG Holdings Inc. now owns 47,029 shares of the company’s stock worth $366,000 after buying an additional 29,256 shares in the last quarter. Espalier Global Management LLC bought a new position in shares of Sigma Designs during the third quarter worth approximately $292,000. Morgan Stanley raised its position in shares of Sigma Designs by 243.6% in the third quarter. Morgan Stanley now owns 49,268 shares of the company’s stock worth $383,000 after buying an additional 34,929 shares in the last quarter. Northern Trust Corp raised its position in shares of Sigma Designs by 2.4% in the third quarter. Northern Trust Corp now owns 362,104 shares of the company’s stock worth $2,821,000 after buying an additional 8,492 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Sigma Designs by 0.9% in the third quarter. California State Teachers Retirement System now owns 75,871 shares of the company’s stock worth $591,000 after buying an additional 700 shares in the last quarter. 65.74% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:SIGM

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