Equities research analysts predict that Sigma Designs, Inc. (NASDAQ:SIGM) will post sales of $41.75 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Sigma Designs’ earnings, with the lowest sales estimate coming in at $39.50 million and the highest estimate coming in at $44.00 million. Sigma Designs reported sales of $61.32 million in the same quarter last year, which indicates a negative year over year growth rate of 31.9%. The business is expected to announce its next earnings report on Tuesday, September 5th.
On average, analysts expect that Sigma Designs will report full year sales of $41.75 million for the current year, with estimates ranging from $157.94 million to $184.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $174.64 million per share, with estimates ranging from $145.08 million to $204.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Sigma Designs.
Sigma Designs (NASDAQ:SIGM) last announced its earnings results on Tuesday, June 6th. The semiconductor company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.04. Sigma Designs had a negative return on equity of 11.77% and a negative net margin of 12.15%. The business had revenue of $39.60 million for the quarter, compared to analysts’ expectations of $39.50 million. During the same period in the previous year, the firm posted ($0.12) earnings per share. The firm’s revenue was down 26.4% compared to the same quarter last year.
A number of equities research analysts have issued reports on SIGM shares. Lake Street Capital upgraded shares of Sigma Designs from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Thursday, March 30th. Robert W. Baird reiterated an “outperform” rating and issued a $8.00 target price on shares of Sigma Designs in a research note on Thursday, March 30th. Zacks Investment Research cut shares of Sigma Designs from a “hold” rating to a “sell” rating in a research note on Wednesday, May 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sigma Designs in a research note on Wednesday, June 7th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $8.58.
Shares of Sigma Designs (SIGM) traded down 1.69% during mid-day trading on Friday, hitting $5.80. The stock had a trading volume of 245,190 shares. The company’s market cap is $221.54 million. Sigma Designs has a one year low of $5.20 and a one year high of $8.60. The firm’s 50 day moving average price is $6.17 and its 200-day moving average price is $6.15.
In other Sigma Designs news, major shareholder Soros Fund Management Llc purchased 400,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was purchased at an average price of $5.80 per share, with a total value of $2,320,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Soros Fund Management LLC raised its position in Sigma Designs by 136.2% in the first quarter. Soros Fund Management LLC now owns 3,700,000 shares of the semiconductor company’s stock valued at $23,125,000 after buying an additional 2,133,334 shares during the period. Dimensional Fund Advisors LP raised its position in Sigma Designs by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,177,460 shares of the semiconductor company’s stock valued at $19,859,000 after buying an additional 60,664 shares during the period. Raging Capital Management LLC acquired a new position in Sigma Designs during the fourth quarter valued at about $15,289,000. Renaissance Technologies LLC raised its position in Sigma Designs by 6.8% in the first quarter. Renaissance Technologies LLC now owns 1,893,200 shares of the semiconductor company’s stock valued at $11,833,000 after buying an additional 120,100 shares during the period. Finally, Federated Investors Inc. PA raised its position in Sigma Designs by 38.5% in the fourth quarter. Federated Investors Inc. PA now owns 1,800,138 shares of the semiconductor company’s stock valued at $10,801,000 after buying an additional 500,000 shares during the period. 64.49% of the stock is owned by hedge funds and other institutional investors.
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.
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