Zacks Investment Research upgraded shares of Sigma Designs, Inc. (NASDAQ:SIGM) from a sell rating to a hold rating in a research report released on Thursday morning.

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. “

Separately, Needham & Company LLC reaffirmed a hold rating on shares of Sigma Designs in a research report on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $7.50.

Shares of Sigma Designs (NASDAQ:SIGM) remained flat at $$5.90 during trading hours on Thursday. 137,200 shares of the stock traded hands, compared to its average volume of 178,250. Sigma Designs has a fifty-two week low of $5.20 and a fifty-two week high of $8.35.

Sigma Designs (NASDAQ:SIGM) last announced 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 net margin of 19.53% and a negative return on equity of 18.73%. The business had revenue of $39.50 million for the quarter, compared to the consensus estimate of $39.63 million. During the same period in the prior year, the company earned $0.07 EPS. Sigma Designs’s quarterly revenue was down 35.6% on a year-over-year basis. sell-side analysts predict that Sigma Designs will post -0.92 earnings per share for the current year.

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In other news, major shareholder Soros Fund Management Llc bought 65,625 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was purchased at an average price of $5.86 per share, for a total transaction of $384,562.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders acquired 104,958 shares of company stock valued at $613,553. 4.50% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SIGM. Bank of New York Mellon Corp grew its position in Sigma Designs by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 148,481 shares of the semiconductor company’s stock worth $928,000 after purchasing an additional 3,970 shares during the last quarter. American International Group Inc. grew its position in Sigma Designs by 7.1% in the 1st quarter. American International Group Inc. now owns 22,075 shares of the semiconductor company’s stock worth $138,000 after purchasing an additional 1,458 shares during the last quarter. Geode Capital Management LLC grew its position in Sigma Designs by 11.3% in the 1st quarter. Geode Capital Management LLC now owns 301,403 shares of the semiconductor company’s stock worth $1,883,000 after purchasing an additional 30,704 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Sigma Designs by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,177,460 shares of the semiconductor company’s stock worth $19,859,000 after purchasing an additional 60,664 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Sigma Designs by 6.8% in the first quarter. Renaissance Technologies LLC now owns 1,893,200 shares of the semiconductor company’s stock valued at $11,833,000 after acquiring an additional 120,100 shares in the last quarter. Hedge funds and other institutional investors own 60.83% 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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