Sigma Designs, Inc. (SIGM) Short Interest Down 29.1% in August
Sigma Designs, Inc. (NASDAQ:SIGM) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 708,984 shares, a decrease of 29.1% from the August 15th total of 1,000,523 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average trading volume of 93,448 shares, the short-interest ratio is currently 7.6 days.
In related news, major shareholder Soros Fund Management Llc acquired 82,083 shares of Sigma Designs stock in a transaction on Thursday, June 29th. The stock was bought at an average cost of $5.85 per share, for a total transaction of $480,185.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 702,203 shares of company stock valued at $4,074,112 over the last 90 days. 4.50% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Intellectus Partners LLC raised its stake in shares of Sigma Designs by 16.3% during the 2nd quarter. Intellectus Partners LLC now owns 99,825 shares of the semiconductor company’s stock worth $584,000 after buying an additional 14,000 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake 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 buying an additional 5,611 shares during the last quarter. State Street Corp raised its stake 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 buying an additional 57,300 shares during the last quarter. Voya Investment Management LLC raised its stake 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 buying an additional 4,097 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake 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 buying an additional 38,299 shares during the last quarter. 61.45% of the stock is owned by institutional investors and hedge funds.
Shares of Sigma Designs (SIGM) opened at 5.90 on Friday. The stock has a 50 day moving average of $6.21 and a 200-day moving average of $6.08. Sigma Designs has a 12 month low of $5.20 and a 12 month high of $8.53. The firm’s market capitalization is $227.24 million.
Sigma Designs (NASDAQ:SIGM) last released its quarterly earnings results on Thursday, September 7th. The semiconductor company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The firm had revenue of $39.50 million for the quarter, compared to analyst estimates of $39.63 million. Sigma Designs had a negative return on equity of 18.73% and a negative net margin of 19.53%. The company’s quarterly revenue was down 35.6% compared to the same quarter last year. During the same period last year, the firm earned $0.07 EPS. On average, equities research analysts anticipate that Sigma Designs will post ($0.81) EPS for the current fiscal year.
SIGM has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Sigma Designs from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Robert W. Baird restated an “outperform” rating and set a $8.00 price objective on shares of Sigma Designs in a research report on Wednesday, June 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sigma Designs in a research report on Wednesday, June 7th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $7.70.
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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.
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