Ironwood Investment Management LLC Purchases New Position in Sigma Designs, Inc. (NASDAQ:SIGM)
Ironwood Investment Management LLC purchased a new position in shares of Sigma Designs, Inc. (NASDAQ:SIGM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,734 shares of the semiconductor company’s stock, valued at approximately $186,000. Ironwood Investment Management LLC owned 0.08% of Sigma Designs at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Strs Ohio acquired a new stake in Sigma Designs during the second quarter worth about $101,000. American International Group Inc. boosted its stake in Sigma Designs by 7.1% in the first quarter. American International Group Inc. now owns 22,075 shares of the semiconductor company’s stock worth $138,000 after buying an additional 1,458 shares during the last quarter. AXA acquired a new stake in Sigma Designs during the first quarter worth about $149,000. Metropolitan Life Insurance Co. NY acquired a new stake in Sigma Designs during the first quarter worth about $171,000. Finally, Highbridge Capital Management LLC acquired a new stake in Sigma Designs during the first quarter worth about $171,000. Institutional investors and hedge funds own 59.66% of the company’s stock.
Sigma Designs, Inc. (SIGM) opened at 6.25 on Monday. Sigma Designs, Inc. has a 52 week low of $5.20 and a 52 week high of $8.60. The stock’s 50 day moving average is $6.05 and its 200 day moving average is $6.10. The company’s market capitalization is $238.73 million.
Sigma Designs (NASDAQ:SIGM) last issued its quarterly earnings results on Tuesday, June 6th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.04. Sigma Designs had a negative net margin of 12.15% and a negative return on equity of 11.77%. The business had revenue of $39.60 million during the quarter, compared to analyst estimates of $39.50 million. During the same period last year, the firm posted ($0.12) earnings per share. Sigma Designs’s quarterly revenue was down 26.4% compared to the same quarter last year. Analysts predict that Sigma Designs, Inc. will post ($0.57) EPS for the current fiscal year.
A number of research firms recently issued reports on SIGM. Zacks Investment Research raised Sigma Designs from a “sell” rating to a “hold” rating in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of Sigma Designs in a research note on Wednesday, June 7th. Finally, Robert W. Baird reissued an “outperform” rating and set a $8.00 target price on shares of Sigma Designs in a research note on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $8.58.
In other Sigma Designs news, major shareholder Soros Fund Management Llc purchased 400,000 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were purchased at an average cost of $5.80 per share, with a total value of $2,320,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders acquired 1,029,368 shares of company stock worth $5,967,515. Insiders own 4.50% of the company’s stock.
About Sigma Designs
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.
Receive News & Ratings for Sigma Designs Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sigma Designs Inc. and related companies with MarketBeat.com's FREE daily email newsletter.