PNC Financial Services Group Inc. Sells 2,600 Shares of Sigma Designs Inc. (SIGM)
PNC Financial Services Group Inc. reduced its stake in Sigma Designs Inc. (NASDAQ:SIGM) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,600 shares of the company’s stock after selling 2,600 shares during the period. PNC Financial Services Group Inc. owned about 0.06% of Sigma Designs worth $152,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. bought a new position in Sigma Designs during the first quarter valued at approximately $5,530,000. Harvest Capital Strategies LLC bought a new position in Sigma Designs during the first quarter valued at approximately $408,000. Royce & Associates LP boosted its position in Sigma Designs by 35.4% in the first quarter. Royce & Associates LP now owns 1,809,982 shares of the company’s stock valued at $12,308,000 after buying an additional 473,285 shares in the last quarter. Renaissance Technologies LLC boosted its position in Sigma Designs by 3.4% in the first quarter. Renaissance Technologies LLC now owns 1,965,400 shares of the company’s stock valued at $13,365,000 after buying an additional 64,100 shares in the last quarter. Finally, Genesee Valley Trust Co. boosted its position in Sigma Designs by 7.5% in the second quarter. Genesee Valley Trust Co. now owns 20,815 shares of the company’s stock valued at $134,000 after buying an additional 1,455 shares in the last quarter. Hedge funds and other institutional investors own 66.15% of the company’s stock.
Sigma Designs Inc. (NASDAQ:SIGM) traded down 2.00% on Friday, reaching $7.86. 171,486 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $7.77 and its 200-day moving average is $6.98. The firm’s market cap is $294.40 million. Sigma Designs Inc. has a 12 month low of $5.41 and a 12 month high of $10.19.
Sigma Designs (NASDAQ:SIGM) last posted its earnings results on Tuesday, September 6th. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ 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 company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.12 earnings per share. On average, equities analysts forecast that Sigma Designs Inc. will post $0.04 earnings per share for the current year.
SIGM has been the topic of several research analyst reports. Zacks Investment Research cut shares of Sigma Designs from a “hold” rating to a “strong sell” rating in a report on Friday, June 10th. Needham & Company LLC restated a “buy” rating and set a $13.00 price target on shares of Sigma Designs in a report on Wednesday, June 29th. Robert W. Baird restated an “outperform” rating and set a $9.00 price target (down from $10.00) on shares of Sigma Designs in a report on Wednesday, September 7th. Finally, BWS Financial cut shares of Sigma Designs from a “hold” rating to a “sell” rating and set a $6.00 price target on the stock. in a report on Thursday, September 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $9.39.
Sigma Designs Company Profile
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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