Brokerages Set Sigma Designs Inc. (SIGM) Target Price at $9.79
Sigma Designs Inc. (NASDAQ:SIGM) has been assigned an average rating of “Buy” from the seven research firms that are presently covering the stock. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $9.61.
SIGM has been the topic of a number of recent analyst reports. BWS Financial cut shares of Sigma Designs from a “hold” rating to a “sell” rating and set a $6.00 target price on the stock. in a research report on Thursday, September 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 target price on shares of Sigma Designs in a research report on Wednesday, June 29th. Zacks Investment Research raised shares of Sigma Designs from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $9.00 target price (down previously from $10.00) on shares of Sigma Designs in a research report on Wednesday, September 7th.
Hedge funds have recently modified their holdings of the company. Top Ace Asset Management Ltd acquired a new stake in shares of Sigma Designs during the second quarter valued at about $7,691,000. Emerald Acquisition Ltd. acquired a new stake in shares of Sigma Designs during the second quarter valued at about $927,000. California State Teachers Retirement System boosted its stake in shares of Sigma Designs by 0.3% in the second quarter. California State Teachers Retirement System now owns 75,171 shares of the company’s stock valued at $483,000 after buying an additional 200 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Sigma Designs by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 128,373 shares of the company’s stock worth $826,000 after buying an additional 2,108 shares during the last quarter. Finally, Genesee Valley Trust Co. raised 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 last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.
Sigma Designs (NASDAQ:SIGM) opened at 7.65 on Monday. The stock’s market cap is $286.54 million. The stock has a 50 day moving average of $7.84 and a 200-day moving average of $6.99. Sigma Designs 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.06. Sigma Designs had a negative net margin of 4.20% and a negative return on equity of 1.31%. The company had revenue of $61.30 million for the quarter. During the same period in the previous year, the company earned $0.12 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that Sigma Designs will post $0.04 EPS for the current fiscal year.
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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