Sigma Designs Inc (SIGM) Receives Average Recommendation of “Hold” from Brokerages

Shares of Sigma Designs Inc (NASDAQ:SIGM) have received an average rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $7.53.

Several equities research analysts have recently weighed in on the company. ValuEngine upgraded Sigma Designs from a “sell” rating to a “hold” rating in a research report on Saturday, December 9th. Needham & Company LLC reiterated a “hold” rating on shares of Sigma Designs in a research report on Friday, December 8th. Lake Street Capital cut Sigma Designs from a “buy” rating to a “hold” rating and set a $7.05 price target on the stock. in a research report on Friday, December 8th. Benchmark reiterated a “hold” rating on shares of Sigma Designs in a research report on Friday, December 8th. Finally, Craig Hallum cut Sigma Designs from a “buy” rating to a “hold” rating in a research report on Friday, December 8th.

Shares of Sigma Designs (SIGM) remained flat at $$6.95 during trading on Monday. 302,800 shares of the stock were exchanged, compared to its average volume of 338,414. Sigma Designs has a 1 year low of $5.40 and a 1 year high of $7.00. The firm has a market capitalization of $269.25, a P/E ratio of -4.83 and a beta of 1.09.

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 Zacks’ consensus estimate of ($0.07) by ($0.18). Sigma Designs had a negative net margin of 35.55% and a negative return on equity of 30.17%. The firm had revenue of $33.86 million during the quarter, compared to the consensus estimate of $38.70 million. equities research analysts forecast that Sigma Designs will post -0.92 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in SIGM. Strs Ohio bought a new stake in shares of Sigma Designs during the second quarter valued at about $101,000. Ameriprise Financial Inc. bought a new position in shares of Sigma Designs in the second quarter worth approximately $102,000. Global X Management Co. LLC increased its position in shares of 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 worth $104,000 after purchasing an additional 4,151 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Sigma Designs by 26.2% in the second quarter. Voya Investment Management LLC now owns 19,735 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 4,097 shares during the last quarter. Finally, Alliancebernstein L.P. bought a new position in shares of Sigma Designs in the second quarter worth approximately $150,000. Hedge funds and other institutional investors own 63.19% 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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