Sigma Designs, Inc. (NASDAQ:SIGM) has earned an average rating of “Hold” from the eight ratings firms that are 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 assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $7.50.

SIGM has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Sigma Designs in a report on Thursday. Zacks Investment Research raised shares of Sigma Designs from a “sell” rating to a “hold” rating in a report on Friday, August 4th.

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In other Sigma Designs news, major shareholder Soros Fund Management Llc bought 32,123 shares of Sigma Designs stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average price of $5.82 per share, with a total value of $186,955.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have purchased 104,958 shares of company stock valued at $613,553. 4.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new stake in Sigma Designs during the second quarter valued at $101,000. Ameriprise Financial Inc. acquired a new stake in Sigma Designs during the second quarter valued at $102,000. Global X Management Co. LLC grew its position in Sigma Designs by 30.5% during the second quarter. Global X Management Co. LLC now owns 17,758 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 4,151 shares during the period. Voya Investment Management LLC grew its position 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 during the period. Finally, American International Group Inc. grew its position in Sigma Designs by 7.1% during the first quarter. American International Group Inc. now owns 22,075 shares of the semiconductor company’s stock valued at $138,000 after buying an additional 1,458 shares during the period. Institutional investors own 60.98% of the company’s stock.

Shares of Sigma Designs (NASDAQ:SIGM) traded up 1.56% during trading on Wednesday, reaching $6.50. 309,627 shares of the company were exchanged. The company’s 50-day moving average is $6.19 and its 200 day moving average is $6.13. The firm’s market capitalization is $250.35 million. Sigma Designs has a 1-year low of $5.20 and a 1-year high of $8.35.

Sigma Designs (NASDAQ:SIGM) last announced its earnings results on Thursday, September 7th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.04). The firm had revenue of $39.50 million during the quarter, compared to analyst estimates of $39.63 million. Sigma Designs had a negative net margin of 19.53% and a negative return on equity of 18.73%. Sigma Designs’s revenue was down 35.6% on a year-over-year basis. During the same quarter last year, the business earned $0.07 earnings per share. Equities research analysts expect that Sigma Designs will post ($0.78) EPS for the current fiscal year.

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.

Analyst Recommendations for Sigma Designs (NASDAQ:SIGM)

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