Sigma Designs Inc (SIGM) Receives $7.50 Average PT from Analysts
Sigma Designs Inc (NASDAQ:SIGM) has been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the firm. Three equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $7.50.
A number of equities research analysts have recently weighed in on SIGM shares. Zacks Investment Research raised Sigma Designs from a “sell” rating to a “hold” rating in a research note on Wednesday, February 8th. Lake Street Capital raised Sigma Designs from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Thursday, March 30th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $8.00 price objective on shares of Sigma Designs in a research note on Thursday, March 30th.
Shares of Sigma Designs (NASDAQ:SIGM) traded up 0.80% on Friday, reaching $6.30. 144,483 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $6.13 and its 200-day moving average price is $6.36. Sigma Designs has a 52 week low of $5.20 and a 52 week high of $8.60. The stock’s market capitalization is $240.36 million.
Sigma Designs (NASDAQ:SIGM) last posted its quarterly earnings results on Wednesday, March 29th. The semiconductor company reported ($0.16) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.16). Sigma Designs had a negative return on equity of 2.41% and a negative net margin of 6.89%. The company had revenue of $42.70 million during the quarter, compared to the consensus estimate of $43.29 million. During the same period last year, the business earned $0.02 EPS. The business’s quarterly revenue was down 17.1% on a year-over-year basis. Equities analysts predict that Sigma Designs will post ($0.22) EPS for the current year.
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In other Sigma Designs news, major shareholder Soros Fund Management Llc bought 223,919 shares of the stock in a transaction on Thursday, April 13th. The shares were purchased at an average price of $5.63 per share, with a total value of $1,260,663.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Raging Capital Management LLC purchased a new stake in shares of Sigma Designs during the fourth quarter valued at $15,289,000. Soros Fund Management LLC raised its stake in shares of Sigma Designs by 136.2% in the first quarter. Soros Fund Management LLC now owns 3,700,000 shares of the semiconductor company’s stock valued at $23,125,000 after buying an additional 2,133,334 shares during the last quarter. Federated Investors Inc. PA raised its stake in shares of Sigma Designs by 38.5% in the fourth quarter. Federated Investors Inc. PA now owns 1,800,138 shares of the semiconductor company’s stock valued at $10,801,000 after buying an additional 500,000 shares during the last quarter. Top Ace Asset Management Ltd raised its stake in shares of Sigma Designs by 33.9% in the third quarter. Top Ace Asset Management Ltd now owns 1,601,265 shares of the semiconductor company’s stock valued at $12,474,000 after buying an additional 405,209 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Sigma Designs during the fourth quarter valued at $830,000. 62.51% of the stock is currently owned by institutional investors.
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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