Sigma Designs (SIGM) Shares Up 23.2%

Shares of Sigma Designs, Inc. (NASDAQ:SIGM) shot up 23.2% during mid-day trading on Monday . The stock traded as high as $6.95 and last traded at $6.90. 15,577,200 shares were traded during mid-day trading, an increase of 4,853% from the average session volume of 314,526 shares. The stock had previously closed at $5.60.

A number of research firms have recently weighed in on SIGM. ValuEngine raised shares of Sigma Designs from a “sell” rating to a “hold” rating in a research report on Saturday. Needham & Company LLC reissued a “hold” rating on shares of Sigma Designs in a research report on Friday. Lake Street Capital downgraded shares of Sigma Designs from a “buy” rating to a “hold” rating and set a $7.05 price target for the company. in a research report on Friday. Benchmark restated a “hold” rating on shares of Sigma Designs in a research note on Friday. Finally, Craig Hallum cut Sigma Designs from a “buy” rating to a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Sigma Designs currently has an average rating of “Hold” and an average target price of $7.53.

Sigma Designs (NASDAQ:SIGM) last announced its quarterly earnings data on Thursday, December 7th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.18). Sigma Designs had a negative return on equity of 30.17% and a negative net margin of 35.55%. The firm had revenue of $33.86 million for the quarter, compared to the consensus estimate of $38.70 million. equities research analysts anticipate that Sigma Designs, Inc. will post -0.92 earnings per share for the current fiscal year.

In related news, major shareholder Soros Fund Management Llc bought 32,123 shares of the business’s stock in a transaction on Friday, September 15th. The shares were bought at an average cost of $5.82 per share, for a total transaction of $186,955.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Strs Ohio bought a new stake in Sigma Designs in the second quarter valued at $101,000. Ameriprise Financial Inc. bought a new stake in Sigma Designs in the second quarter valued at $102,000. Global X Management Co. LLC lifted its stake in Sigma Designs by 30.5% in 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 last quarter. Voya Investment Management LLC lifted its stake in Sigma Designs by 26.2% in 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 last quarter. Finally, Alliancebernstein L.P. bought a new stake in Sigma Designs in the second quarter valued at $150,000. Institutional investors own 63.64% of the company’s stock.

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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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