Highbridge Capital Management LLC Takes Position in Sigma Designs, Inc. (NASDAQ:SIGM)

Highbridge Capital Management LLC bought a new stake in Sigma Designs, Inc. (NASDAQ:SIGM) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 27,445 shares of the semiconductor company’s stock, valued at approximately $171,000. Highbridge Capital Management LLC owned approximately 0.07% of Sigma Designs as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of SIGM. American International Group Inc. raised its stake in Sigma Designs by 7.1% in the first 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 during the period. AXA acquired a new position in shares of Sigma Designs during the first quarter worth approximately $149,000. Two Sigma Securities LLC acquired a new position in shares of Sigma Designs during the first quarter worth approximately $198,000. GMT Capital Corp acquired a new position in shares of Sigma Designs during the first quarter worth approximately $381,000. Finally, Menta Capital LLC acquired a new position in shares of Sigma Designs during the first quarter worth approximately $490,000. Hedge funds and other institutional investors own 59.66% of the company’s stock.

Shares of Sigma Designs, Inc. (SIGM) remained flat at $6.25 on Tuesday. 62,541 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $6.09 and a 200-day moving average price of $6.11. Sigma Designs, Inc. has a 52-week low of $5.20 and a 52-week high of $8.60. The company’s market cap is $238.73 million.

Sigma Designs (NASDAQ:SIGM) last released its quarterly earnings results on Tuesday, June 6th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.04. The firm had revenue of $39.60 million for the quarter, compared to analyst estimates of $39.50 million. Sigma Designs had a negative return on equity of 11.77% and a negative net margin of 12.15%. The business’s revenue for the quarter was down 26.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) earnings per share. On average, equities research analysts anticipate that Sigma Designs, Inc. will post ($0.57) earnings per share for the current fiscal year.

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SIGM has been the subject of a number of research analyst reports. Zacks Investment Research lowered Sigma Designs from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th. Robert W. Baird reiterated an “outperform” rating and set a $8.00 price target on shares of Sigma Designs in a report on Wednesday, June 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sigma Designs in a report on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Sigma Designs presently has a consensus rating of “Hold” and a consensus target price of $8.58.

In other news, major shareholder Soros Fund Management Llc purchased 4,424 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was acquired at an average cost of $5.85 per share, with a total value of $25,880.40. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have purchased 1,029,368 shares of company stock valued at $5,967,515. 4.50% of the stock is currently owned by insiders.

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.

Institutional Ownership by Quarter for Sigma Designs (NASDAQ:SIGM)

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