JPMorgan Chase & Co. reduced its stake in Sigma Designs Inc. (NASDAQ:SIGM) by 10.5% during the second quarter, Holdings Channel reports. The firm owned 728,100 shares of the company’s stock after selling 85,100 shares during the period. JPMorgan Chase & Co. owned about 1.97% of Sigma Designs worth $4,682,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Genesee Valley Trust Co. boosted its stake in shares of Sigma Designs by 7.5% in the second quarter. Genesee Valley Trust Co. now owns 20,815 shares of the company’s stock valued at $134,000 after buying an additional 1,455 shares in the last quarter. Adams Diversified Equity Fund Inc. acquired a new stake in shares of Sigma Designs during the second quarter valued at $241,000. Bank of Montreal Can acquired a new stake in shares of Sigma Designs during the second quarter valued at $324,000. Harvest Capital Strategies LLC acquired a new stake in shares of Sigma Designs during the first quarter valued at $408,000. Finally, Boothbay Fund Management LLC boosted its stake in shares of Sigma Designs by 146.9% in the first quarter. Boothbay Fund Management LLC now owns 68,103 shares of the company’s stock valued at $463,000 after buying an additional 40,525 shares in the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.
Sigma Designs Inc. (NASDAQ:SIGM) traded down 0.27% on Friday, reaching $7.45. 120,952 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $7.86 and a 200 day moving average price of $7.00. Sigma Designs Inc. has a one year low of $5.41 and a one year high of $10.19. The firm’s market cap is $279.05 million.
Sigma Designs (NASDAQ:SIGM) last announced its quarterly earnings data on Tuesday, September 6th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The company had revenue of $61.30 million for the quarter. Sigma Designs had a negative return on equity of 1.31% and a negative net margin of 4.20%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS. On average, equities analysts anticipate that Sigma Designs Inc. will post $0.04 earnings per share for the current year.
Several brokerages recently weighed in on SIGM. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Sigma Designs in a research report on Wednesday, June 29th. Zacks Investment Research upgraded shares of Sigma Designs from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 10th. BWS Financial cut shares of Sigma Designs from a “hold” rating to a “sell” rating and set a $6.00 price target on the stock. in a research report on Thursday, September 8th. Finally, Robert W. Baird restated an “outperform” rating and issued a $9.00 price target (down previously from $10.00) on shares of Sigma Designs in a research report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $9.61.
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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