Brokerages Anticipate Sigma Designs to Post $0.01 Earnings Per Share (NASDAQ:SIGM)

Sigma Designs (NASDAQ:SIGM) has earned a consensus broker rating score of 2.00 (Sell) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a buy recommendation.

Brokerages have set a twelve-month consensus price target of $8.50 for the company and are predicting that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also assigned Sigma Designs an industry rank of 249 out of 265 based on the ratings given to its competitors.

Separately, analysts at Needham & Company LLC raised their price target on shares of Sigma Designs from $7.00 to $8.00 in a research note on Wednesday. They now have a “buy” rating on the stock.

Sigma Designs (NASDAQ:SIGM) opened at 7.40 on Friday. Sigma Designs has a 1-year low of $3.28 and a 1-year high of $7.50. The stock’s 50-day moving average is $4.92 and its 200-day moving average is $4.54. The company’s market cap is $257.4 million.

Sigma Designs (NASDAQ:SIGM) last issued its quarterly earnings data on Wednesday, December 10th. The company reported $0.04 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.01 by $0.03. The company had revenue of $53.80 million for the quarter, compared to the consensus estimate of $53.20 million. During the same quarter last year, the company posted $0.10 earnings per share. On average, analysts predict that Sigma Designs will post $-0.15 earnings per share for the current fiscal year.

Sigma Designs, Inc (NASDAQ:SIGM) is a provider of system-on-chip (SoC) solutions.

To get a free copy of the research report on Sigma Designs (SIGM), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com

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