Shares of Sigma Designs Inc. (NASDAQ:SIGM) shot up 2.2% during trading on Wednesday . The stock traded as high as $7.02 and last traded at $7.00, with a volume of 258,867 shares changing hands. The stock had previously closed at $6.85.

Several research firms have recently commented on SIGM. Zacks Investment Research raised shares of Sigma Designs from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Sigma Designs in a research note on Tuesday, June 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Sigma Designs in a research note on Wednesday, June 29th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $10.82.

The stock’s market cap is $258.99 million. The firm has a 50 day moving average of $6.69 and a 200-day moving average of $6.72.

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

An institutional investor recently raised its position in Sigma Designs stock. Systematic Financial Management LP boosted its stake in shares of Sigma Designs Inc. (NASDAQ:SIGM) by 9.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,638,960 shares of the company’s stock after buying an additional 139,319 shares during the period. Systematic Financial Management LP owned about 4.55% of Sigma Designs worth $10,358,000 at the end of the most recent quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.