Sigma Designs Inc. (SIGM) Announces Quarterly Earnings Results

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Sigma Designs Inc. (NASDAQ:SIGM) issued its quarterly earnings results on Tuesday. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. During the same quarter last year, the firm earned $0.12 earnings per share. The business had revenue of $61.30 million for the quarter, compared to analyst estimates of $61.19 million.
Shares of Sigma Designs (NASDAQ:SIGM) traded up 8.07% during mid-day trading on Tuesday, reaching $8.30. The company’s stock had a trading volume of 1,226,911 shares. The firm has a 50 day moving average price of $6.97 and a 200 day moving average price of $6.84. The firm’s market cap is $307.08 million. Sigma Designs has a 52-week low of $5.41 and a 52-week high of $11.47.

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SIGM has been the subject of a number of research analyst reports. Robert W. Baird reiterated a “buy” rating and set a $10.00 price target on shares of Sigma Designs in a report on Tuesday, June 7th. Needham & Company LLC restated 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 Sigma Designs from a “hold” rating to a “strong sell” rating in a research note on Friday, June 10th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $10.82.
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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