Sigma Designs Inc. (NASDAQ:SIGM) shares traded up 3.3% during mid-day trading on Wednesday . The stock traded as high as $7.20 and last traded at $7.16, with a volume of 161,299 shares traded. The stock had previously closed at $6.93.

Several research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of Sigma Designs in a research report on Tuesday, June 7th. Robert W. Baird reiterated a “buy” rating and issued a $10.00 target price on shares of Sigma Designs in a research report on Tuesday, June 7th. Finally, Zacks Investment Research lowered shares of Sigma Designs from a “hold” rating to a “strong sell” rating in a research report on Friday, June 10th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.82.

The company’s 50-day moving average is $6.83 and its 200 day moving average is $6.77. The stock’s market capitalization is $261.39 million.

Sigma Designs (NASDAQ:SIGM) last announced its quarterly earnings data on Monday, June 6th. The company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. During the same quarter last year, the firm earned $0.09 EPS. The firm had revenue of $53.80 million for the quarter, compared to analysts’ expectations of $53.90 million. Sigma Designs’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that Sigma Designs Inc. will post $0.03 EPS for the current year.

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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