Earnings Estimates Moving Higher for Sigma Designs (SIGM): Time to Buy?

Zacks

Sigma Designs, Inc. (SIGM) is a California based integrated system-on-chip (SoC) solutions provider that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SIGM’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Sigma Designs could be a solid choice for investors.

Current Quarter Estimates for SIGM

In the past 30 days, 1 estimate has gone higher for Sigma Designs while no estimate moved lower in the same time period. The trend has been pretty favorable too, with loss estimates narrowing from 7 cents a share 30 days ago, to 6 today, a move of 14.3%.

Current Year Estimates for SIGM

Meanwhile, Sigma Designs’ current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to no estimate moving lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 10 cents per share 30 days ago to 12 cents per share today, an increase of 20.0%.

Bottom Line

The stock has also started to move higher lately, adding 31.63% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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