Sigma Designs, Inc.NASDAQ
Despite Tough Markets And Stiff Competition, Sigma Designs Could Offer Some Value
Stephen Simpson, CFA
Stephen Simpson, CFA
Fri, Oct. 14, 12:17 PM
- Analyst Tristan Gerra highlights Sigma Designs' (SIGM -0.4%) intellectual property and its potential to attract a buyout over time. Further projects IoT revenue to rebound at a double-digit rate in FY 2018 and suggests the possibility for second-source traction at a TV OEM in the coming year.
- Maintains at Outperform and $9 price target (current price $7.44).
Wed, Sep. 7, 3:00 PM
Wed, Sep. 7, 10:26 AM
- Sigma Designs (SIGM -6.6%) reported better-than-expected Q2 results following yesterday's close, though an initial positive reaction has now turned to sharp selling on outlook concerns.
- The company projected Q3 total revenue of $62M-$65M, gross margins of 47%-50% and operating expenses under $28M on its earnings call and further expects to again be profitable on a non-GAAP basis in the coming quarter.
- Needham & Company has nonetheless subsequently restated a Buy rating and $13 price target (current price $7.78) despite the light forecast.
Tue, Sep. 6, 5:35 PM
Tue, Sep. 6, 4:53 PM
- Sigma Designs (NASDAQ:SIGM) posted EPS of $0.07 over $0.01 expected. The company registered a $0.12 loss per share in Q1.
- Net revenue ($61.3M) increased 14% Q/Q and 5.2% Y/Y. Gross margin of 49.9% vs. 46.6% Q/Q and 50.5% Y/Y. Operating expenses declined moderately to $27.2M from $27.5M last quarter and increased from $24.1M in the prior year period. Operating income of $3.4M vs. $2.5M operating loss Q/Q and operating income of $5.2M Y/Y.
- President and CEO Thinh Tran: "We had a strong second quarter with revenue up 14 percent sequentially led by robust demand and early adoption of our Connected SmartTV Platforms business. With gross margins approaching 50 percent and continued control of our operating expenses, we delivered a healthy net income for the quarter."
- Conference call
- Press release
Tue, Sep. 6, 4:09 PM
Mon, Sep. 5, 5:35 PM
Mon, Jun. 6, 5:35 PM
Mon, Jun. 6, 4:14 PM
Sun, Jun. 5, 5:35 PM
Thu, Mar. 24, 12:47 PM
Wed, Mar. 23, 4:07 PM
- Sigma Designs (NASDAQ:SIGM): FQ4 EPS of $0.02 beats by $0.07.
- Revenue of $51.45M (-6.2% Y/Y) beats by $0.18M.
Tue, Mar. 22, 5:35 PM
Fri, Jan. 22, 3:30 PM
- Plenty of tech names crushed over the first 20 days or so of January are sharply higher as the Nasdaq (up 2.4%) continues rebounding from Wednesday's intraday lows. Many still have sizable YTD losses.
- Big gainers among telecom equipment/component firms: Optical component vendors Oclaro (OCLR +9.5%) and NeoPhotonics (NPTN +6%), mobile infrastructure/services giant Ericsson (ERIC +6.2%), optical networking hardware vendor Infinera (INFN +5.2%), and microcap RF backhaul hardware firms DragonWave (DRWI +24.3%) and Ceragon (CRNT +10%). Ericsson underperformed yesterday following a pre-earnings Goldman downgrade.
- Among enterprise tech firms: Threat-prevention technology and services provider FireEye (FEYE +7.7%), big data software provider Hortonworks (HDP +16.1%), security software/services firm Rapid7 (RPD +9.1%), data governance software firm Varonis (VRNS +5.6%), and flash storage array vendor Violin Memory (VMEM +13.6%). FireEye fell slightly yesterday after making a Q4 pre-announcement and announcing a $200M+ acquisition. Hortonworks was crushed on Tuesday after a Q4 pre-announcement and stock offering shelf registration.
- Among chip industry firms: RF chipmaker Skyworks (SWKS +6%), audio codec developer Cirrus Logic (CRUS +7.3%), smart TV/home automation chipmaker Sigma Designs (SIGM +6.5%), FPGA/sensor hub maker QuickLogic (QUIK +9.2%), and chip equipment firms Axcelis (ACLS +4.9%) and Aixtron (AIXG +4.9%). Major Cirrus/Skyworks client Apple reports on Tuesday afternoon.
- Also up big: 3D printer maker 3D Systems (DDD +7.1%), Russian search leader Yandex (YNDX +7.5%), mortgage origination software firm Ellie Mae (ELLI +6.4%), Chinese solar firm Yingli (YGE +11.4%), and SMB Web services provider Wix.com (WIX +5.3%).
- Previously covered: Rosetta Stone, Live Ventures, HP Enterprise, Mitel, Mobileye, Qorvo, SunPower, SolarCity
Fri, Jan. 15, 2:53 PM
- In Wall Street's latest bloodletting, the Nasdaq is down 3.1% and the S&P 2.4%. The decline comes amid tumbling energy prices (crude is below $30/barrel), soft macro data, and disappointing earnings reports from the likes of Intel and Citigroup.
- Tech companies seeing outsized losses amid the carnage include chipmakers NXP (NXPI -8.1%), Qorvo (QRVO -8.9%), InvenSense (INVN -3.7%), IDT (IDTI -6.4%), Sigma Designs (SIGM -6.5%), and Knowles (KN -6.6%), as well as solar plays Trina (TSL -9.3%), ReneSola (SOL -11.5%), JinkoSolar (JKS -10.7%), Enphase (ENPH -8.5%), and Canadian Solar (CSIQ -8.4%).
- Also off sharply: Action camera leader GoPro (GPRO -8.7%), 3D printer maker 3D Systems (DDD -7.5%), daily deals leader Groupon (GRPN -6.4%), server interconnect provider Mellanox (MLNX -8.5%), OLED materials/IP provider Universal Display (OLED -10.3%), Latin American online marketplace MercadoLibre (MELI -7.2%), data management software firm Varonis (VRNS -8.3%), ad tech firm Rocket Fuel (FUEL -7.1%), Chinese online retailers Vipshop (VIPS -6.9%) and Jumei (JMEI -12.7%), and home automation system provider Control4 (CTRL -7.8%).
- GoPro is down 22% since issuing a Q4 warning on Wednesday afternoon. Trina has been downgraded to Neutral by Goldman. IDT and Mellanox could be affected by the weaker-than-expected Q4 sales reported for Intel's server CPU division (DCG).
- Previously covered: Chip equipment makers, Yandex/Qiwi, Intel, Textura, PC industry firms, Rackspace, CommVault, Ericsson
- Wednesday's notable decliners
Dec. 9, 2015, 12:48 PM