Thu, Apr. 16, 1:44 PM
- Sigma Designs (NASDAQ:SIGM) has sold off after filing its FY15 10-K yesterday afternoon.
- The video processor/home automation chipmaker closed yesterday just $0.18 away from a 52-week high of $8.49. Excluding $95M in cash/investments, shares for just 0.8x estimated FY16 (ends Jan. '16) sales.
- Previously: Sigma posts 3.9% drop in spite of FQ4 beat, strong guidance
Mon, Apr. 6, 3:15 PM
- Today's notable tech gainers include German 3D printer maker Voxeljet (VJET +5.6%), Chinese online real estate firm SouFun (SFUN +5.3%), software outsourcing firm EPAM Systems (EPAM +8.4%), voice processor developer Audience (ADNC +6.3%), smart TV/home automation chipmaker Sigma Designs (SIGM +4.9%), #2 Chinese online travel firm Qunar (QUNR +6.7%), and international e-commerce services firm Borderfree (BRDR +7.2%). The Nasdaq is up 0.7%.
- Notable decliners include FPGA maker Altera (ALTR -4.5%), optical component vendor NeoPhotonics (NPTN -11%), big data/analytics software provider Hortonworks (HDP -4%), and online family care marketplace Care.com (CRCM -4.4%).
- EPAM has joined other Russia-exposed names in rallying, as oil prices and the ruble both move higher. Sigma is reversing Thursday's post-earnings losses. Qunar has surged to new highs yet again, and is now up 58% since its March 16 Q4 report.
- Altera is returning some of the huge March 27 gains it saw on reports of Intel buyout talks. NeoPhotonics, a recent high-flyer, is down 15% over the last 2 trading days; on Friday, the company filed an 8-K making customary exec. compensation disclosures.
- Previously covered: GoPro, Sony, Geospace, SanDisk, Voltari, VMware, Resonant, 500.com
Thu, Apr. 2, 6:12 PM
- In addition to beating FQ4 estimates, Sigma Designs (NASDAQ:SIGM) guided on its CC (transcript) for FQ1 revenue of $52M-$55M, above a $49.8M consensus. However, with Sigma having gone into earnings near their 52-week high, expectations were elevated. Shares fell to $7.92 in regular trading today. AH, they're down 0.5% to $7.88.
- One possible area of concern: Sigma is guiding for an FQ1 gross margin of 48%-51% vs. FQ4's 50.8%, which (though near the high end of guidance) was down from FQ3's 51.4% and the year-ago period's 61.1%. When asked about margins, Sigma suggested product mix changes were to blame.
- The Z-Wave wireless home automation chip/module business remains a strong point: Z-Wave sales were up 50% Y/Y over the whole of FY14, and Sigma states there were 35M Z-Wave-enabled devices in existence at the end of calendar 2014. Samsung and LG recently gave their support for the platform.
- BWS Financial's Hamed Khorsand (Buy) hiked his Sigma target by $2 to $11. "The growth in Z-Wave is accelerating with service providers making the push and the consumer being more educated on the technology. Z-Wave now seems poised to serve as the growth catalyst we have been writing about for the last several quarters."
- FQ4 results, PR
Thu, Apr. 2, 5:38 PM
Wed, Apr. 1, 4:18 PM
Wed, Mar. 11, 3:08 PM
- A day after equity markets tumbled (with many high-beta names especially hard-hit), major tech gainers are outnumbering major decliners, though the Nasdaq is nearly flat.
- Today's notable tech gainers include RF backhaul hardware vendors DragonWave (DRWI +15.6%) and Aviat (AVNW +8%), LED lighting provider Revolution Lighting (RVLT +5.4%) online textbook rental/learning services provider Chegg (CHGG +3.8%), auto site TrueCar (TRUE +5.3%), loan-shopping site owner Lendingtree (TREE +6.9%), telecom equipment vendor Calix (CALX +2.7%), TV/set-top SoC provider Sigma Designs (SIGM +4.9%), and VoIP hardware/software provider Mitel (MITL +3.8%).
- Notable decliners include supercomputer maker SGI (SGI -2.9%), 3D printing software vendor Materialise (MTLS -5.5%), security hardware/software provider KEYW Holding (KEYW -2.9%), and Chinese online game developer Changyou (CYOU -2.9%).
- DragonWave and Aviat are reversing yesterday's big losses. Materialise is making fresh 52-week lows a week after posting mixed Q4 results; KEYW is also seeing new 52-week lows. Revolution's gains continue a volatile post-earnings ride: Shares soared last week after the company posted its Q4 results, but gradually gave back their gains.
- Previously covered: SanDisk, Intel, EMC, SunEdison, Resonant, Immersion, Logitech, VeriFone, Mobileye, Dangdang, InvenSense
Dec. 31, 2014, 10:46 AM
- CES (runs from Jan. 6-9) should highlight how Sigma Designs (NASDAQ:SIGM) is a play on both 4K TV and IoT growth, predicts Needham's Quinn Bolton, hiking his target by a dollar to $8 and reiterating a Buy.
- Bolton is upbeat on the prospects for both Sigma's SX6 smart TV SoC (supports 4K playback), as well as its Z-Wave wireless home automation/monitoring platform.
- Shares have made new 52-week highs, and are up 45% YTD.
Nov. 21, 2014, 4:03 PM
- Sigma Designs (NASDAQ:SIGM) has posted a decent rally on options expiration day. Volume was slightly above a 3-month average of 267K.
- Earlier this week, Sigma announced French carrier Orange is using its Z-Wave wireless transmitter ICs and software stack (aimed at home control/monitoring products) in its Homelive home automation solution.
Sep. 22, 2014, 1:45 PM
- High-beta tech stocks are selling off hard as the Nasdaq registers a 1.3% decline. The selling is broad-based, with Internet, solar, and enterprise tech stocks all well-represented among the ranks of major decliners.
- Major Internet decliners: BIDU -4.7%. ANGI -7%. YELP -5.9%. AWAY -5.1%. CHGG -5.9%. GRUB -5.8%. P -5.2%. Z -4.6%. TRLA -4.8%. ATHM -7.9%. BITA -7%. DANG -5.9%. WB -5.3%.
- Solar: FSLR -4.5%. SCTY -7.5%. SPWR -4.5%. DQ -7.6%. JKS -5.5%. ASTI -6.3%. ENPH -5.5%. CSIQ -4.8%.
- Enterprise: WDAY -5.4%. GIMO -6.7%. VMEM -7.7%. IMPV -4.8%. MKTO -4.9%. SPRT -5.1%. CSOD -5.5%.
- Others: HIMX -4.6%. SIGM -5.6%. WATT -9.7%. CYNI -5.3%. ADNC -5.7%. PXLW -5%. SWIR -5.8%. MITK -6%. OCLR -6%.
Jun. 12, 2014, 12:45 PM
Jun. 11, 2014, 5:36 PM
Jun. 9, 2014, 10:36 AM
- A slew of chip stocks are rallying following Analog Devices' (ADI +5.9%) $2B deal to acquire RFIC vendor Hittite Microwave.
- The purchase is part of an M&A wave that has hit the semiconductor industry over the last 12 months, as chipmakers try to gain scale, cut opex, and grow their cross-selling opportunities by consolidating. Other deals: RF Micro/TriQuint, Avago/LSI, Microchip/ISSC.
- ADI, which shares many telecom equipment, defense/aerospace, and automotive clients with Hittite, predicts Hittite's RF, microwave, and millimeter wave ICs will complement its RF and signal-conversion (ADC/DAC) products.
- Several RF and analog/mixed signal chipmakers are higher, but they're not the only gainers: RFMD +1.8%. TQNT +1.8%. PSMI +2.5%. LLTC +1.6%. MSCC +2.1%. IDTI +3.8%. ATML +3.4%. IRF +1.4%. SIGM +3.9%. AMCC +3.8%.
- Chip ETFs: SOXX, SMH, XSD, PSI, SOXL, USD, SOXS, SSG
May. 23, 2014, 2:17 PM| Comment!
Apr. 9, 2014, 6:08 PM
- Sigma Designs (SIGM) blames its FQ4 miss on "products transitions and inventory adjustments by [its] customers across multiple product lines." The chipmaker promises new products will provide a boost in the second half of FY15 (ends Jan. '15).
- Sigma also states Elias Nader, who has been serving as interim CFO since March 2013, is now the company's permanent CFO.
- FQ4 gross margin was 61.1%, +110 bps Q/Q and +1500 bps Y/Y. Opex fell 35% Y/Y to $24.3M thanks in large part to a $10.4M drop in R&D spend.
- FQ4 results, PR
Apr. 9, 2014, 5:39 PM
Jan. 13, 2014, 12:52 PM
- In an SA Pro column (embargoed until 11AM ET Tuesday), Nassarius Capital asserts Sigma Designs (SIGM +2.9%) could more than double from current levels.
- The author notes shares trade at only 2x cash (limits downside), and sees Sigma's restructuring efforts and the presence of activist investor Raging Capital acting as catalysts.
- Another activist firm, Potomac Capital, recently unloaded its Sigma position. In tandem with the move, Potomac manager Eric Singer resigned as Sigma's chairman.
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