Sigma Designs Inc. (NASDAQ:SIGM) shares rose 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 trading hands. The stock had previously closed at $6.93.

SIGM has been the topic of several recent research reports. Robert W. Baird reaffirmed a “buy” rating and issued a $10.00 target price on shares of Sigma Designs in a research note on Tuesday, June 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 target price on shares of Sigma Designs in a research note 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 note on Friday, June 10th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Sigma Designs presently has an average rating of “Buy” and an average price target of $10.82.

The firm’s 50 day moving average price is $6.87 and its 200 day moving average price is $6.78. The stock’s market cap is $261.95 million.

Sigma Designs (NASDAQ:SIGM) last posted its quarterly earnings results on Monday, June 6th. The company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.07. The company earned $53.80 million during the quarter, compared to analyst estimates of $53.90 million. During the same period in the previous year, the business posted $0.09 earnings per share. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. Analysts predict that Sigma Designs Inc. will post $0.03 earnings per share for the current fiscal 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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