Baird Remains Bullish on Sigma Designs (SIGM) Following 1Q Beat

Baird maintained an Outperform rating and $10.00 price target on Sigma Designs (NASDAQ: SIGM) following the company's 1Q earnings report. SIGM's reported EPS of ($0.12) was below the Street's consensus estimate of ($0.05). Revenue of $53.8 million was in line with the midpoint of guidance of $52.0-$56.0 million. The company's 2Q17 revenue guidance midpoint of $61.5 million is well above the consensus of $57.7 million.

Analyst Tristan Gerra commented, "Reiterating Outperform rating on multiple revenue growth vectors, including large potential in short- and long-range IoT applications, 4K TVs, and G.Hn. Beyond second-half non-U.S. telco win ramps, Sigma’s U.S.-based IoT revenue could find another significant uplift next year, fueled by new products, maturing ecosystem and standards, and longer range applications."

For an analyst ratings summary and ratings history on Sigma Designs click here. For more ratings news on Sigma Designs click here.

Shares of Sigma Designs closed at $7.44 yesterday.

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