Sigma Designs Inc. (SIGM) Announces Quarterly Results, Misses Estimates By $0.42 EPS
Wednesday, August 24, 2021 5:05 PM

Sigma Designs Inc. (SIGM) announced its quarterly results on Wednesday. The company reported ($0.44) earnings per share for the quarter, missing the Thomson Reuters consensus estimate of ($0.02) by $0.42. The company’s quarterly revenue was down 22.9% on a year-over-year basis.

On a related note, analysts at Lazard Capital upgraded shares of Sigma Designs Inc. from a "sell" rating to a "neutral" rating in a research note to investors on Tuesday, July 12nd. Also, analysts at UBS AG (NYSE: UBS) cut their price target on shares of Sigma Designs Inc. from $14.00 to $8.50 in a research note to investors on Wednesday, June 29th. They now have a "neutral" rating on the stock.

Shares of Sigma Designs Inc. (SIGM) traded up 1.81% during mid-day trading on Wednesday, hitting $8.44. Sigma Designs Inc. (SIGM) has a 52 week low of $7.44 and a 52 week high of $15.02. The stock's 50-day moving average is $8.48 and its 200-day moving average is $10.77. The company has a market cap of $268.5 million and a price-to-earnings ratio of 118.43.

Sigma Designs, Inc. is a fabless provider of system-on-chip (SoS) solutions, which are used to deliver multimedia entertainment throughout the home. As of January 30, 2010, the Company offered four separate product lines: media processors, home networking solutions, video image processors and home automation solutions. The Company offer SoCs along with software, which enables solutions for consumer entertainment products. The software is available under Microsoft WinCE and Linux operating systems with support for applications, such as Internet protocol (IP) video streaming, video-on-demand, Blu-Ray and digital versatile disk (DVD) navigation, personal-video-recording, multi-window video and terrestrial broadcast reception. On November 10, 2009, the Company completed the acquisition of CopperGate Communications Ltd. In December 2008, the Company completed the acquisition of Zensys Holding Corporation.

Stay on top of analysts' coverage with American Banking & Market News' daily email newsletter that provides a concise list of analysts' upgrades, analysts' downgrades and analysts' price target changes for each day.Click here to register.