Sigma Designs, Inc. (SIGM) Sees Strong Trading Volume Following Insider Buying Activity

Shares of Sigma Designs, Inc. (NASDAQ:SIGM) saw strong trading volume on Friday after an insider bought additional shares in the company. 1,013,286 shares traded hands during trading, an increase of 423% from the previous session’s volume of 193,867 shares.The stock last traded at $5.90 and had previously closed at $5.80.

Specifically, major shareholder Soros Fund Management Llc bought 65,625 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were purchased at an average price of $5.86 per share, for a total transaction of $384,562.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 702,203 shares of company stock worth $4,074,112. Company insiders own 4.50% of the company’s stock.

Several equities research analysts have issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Sigma Designs in a research report on Wednesday, June 7th. Zacks Investment Research upgraded Sigma Designs from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Robert W. Baird restated an “outperform” rating and set a $8.00 target price on shares of Sigma Designs in a research report on Wednesday, June 7th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $7.70.

The firm’s market cap is $227.24 million. The stock has a 50 day moving average price of $6.21 and a 200 day moving average price of $6.08.

Sigma Designs (NASDAQ:SIGM) last released its earnings results on Thursday, September 7th. The semiconductor company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04). Sigma Designs had a negative net margin of 19.53% and a negative return on equity of 18.73%. The firm had revenue of $39.50 million for the quarter, compared to analysts’ expectations of $39.63 million. During the same quarter last year, the firm posted $0.07 EPS. The firm’s quarterly revenue was down 35.6% compared to the same quarter last year. Analysts expect that Sigma Designs, Inc. will post ($0.81) EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. lifted its stake in shares of Sigma Designs by 7.1% during the 1st quarter. American International Group Inc. now owns 22,075 shares of the semiconductor company’s stock valued at $138,000 after buying an additional 1,458 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Sigma Designs by 4.6% during the 2nd quarter. Rhumbline Advisers now owns 46,022 shares of the semiconductor company’s stock valued at $269,000 after buying an additional 2,026 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Sigma Designs by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 148,481 shares of the semiconductor company’s stock valued at $928,000 after buying an additional 3,970 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Sigma Designs by 26.2% during the 2nd quarter. Voya Investment Management LLC now owns 19,735 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 4,097 shares in the last quarter. Finally, Global X Management Co. LLC lifted its stake in shares of Sigma Designs by 30.5% during the 2nd quarter. Global X Management Co. LLC now owns 17,758 shares of the semiconductor company’s stock valued at $104,000 after buying an additional 4,151 shares in the last quarter. Institutional investors own 61.45% of the company’s stock.

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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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