Zacks Investment Research upgraded shares of Sigma Designs Inc. (NASDAQ:SIGM) from a hold rating to a buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $8.50 price target on the stock.
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. “
SIGM has been the topic of several other reports. Needham & Company LLC reiterated a buy rating and issued a $13.00 target price on shares of Sigma Designs in a report on Wednesday, September 7th. BWS Financial lowered shares of Sigma Designs from a hold rating to a sell rating and set a $6.00 target price on the stock. in a report on Thursday, September 8th. Finally, Robert W. Baird reiterated an outperform rating and issued a $9.00 target price (down from $10.00) on shares of Sigma Designs in a report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating to the stock. Sigma Designs has a consensus rating of Buy and a consensus target price of $9.61.
Shares of Sigma Designs (NASDAQ:SIGM) opened at 7.45 on Wednesday. The firm’s market capitalization is $279.05 million. Sigma Designs has a 52 week low of $5.41 and a 52 week high of $10.19. The firm has a 50-day moving average of $7.86 and a 200 day moving average of $7.00.
Sigma Designs (NASDAQ:SIGM) last posted its earnings results on Tuesday, September 6th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $61.30 million for the quarter. Sigma Designs had a negative net margin of 4.20% and a negative return on equity of 1.31%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. On average, equities research analysts expect that Sigma Designs will post $0.04 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. KCG Holdings Inc. bought a new stake in Sigma Designs during the second quarter worth about $114,000. Genesee Valley Trust Co. increased its stake in Sigma Designs by 7.5% in the second quarter. Genesee Valley Trust Co. now owns 20,815 shares of the company’s stock worth $134,000 after buying an additional 1,455 shares during the period. PEAK6 Investments L.P. increased its stake in Sigma Designs by 126.1% in the second quarter. PEAK6 Investments L.P. now owns 22,943 shares of the company’s stock worth $148,000 after buying an additional 12,794 shares during the period. Adams Diversified Equity Fund Inc. bought a new stake in Sigma Designs during the second quarter worth about $241,000. Finally, Bank of Montreal Can bought a new stake in Sigma Designs during the second quarter worth about $324,000. 65.96% of the stock is currently owned by institutional investors and hedge funds.
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.