Filed under: Earnings reports, Analyst upgrades and downgrades, Microsoft (MSFT), Cisco Systems (CSCO), Alcatel-LucentADS (ALU), Technical Analysis, Stocks to Buy, Technology

Sigma Designs (NASDAQ: SIGM) develops and markets high-performance system-on-a-chip semiconductors for Internet Protocol set-top boxes, DVD players/recorders, high definition TVs, digital media adapters, portable media players and ultra-wideband connectivity products. The company also offers engineering support services and customized chipset development. It has alliances with a variety of well-known tech names, including Cisco Systems (NASDAQ: CSCO), Microsoft (NASDAQ: MSFT) and Alcatel-Lucent (NYSE: ALU).

Sigma Designs surprised the Street last week, when it reported Q3 EPS of 79 cents and revenues of $66.2 million. Analysts had been expecting 55 cents and $51.8 million. Management also guided Q4 revenues to about $72.8-$76.1 million ($54.76M consensus). RBC Capital Markets upgraded the shares to “outperform”. Six other brokerages reiterated recommendations of “buy” to “strong buy”. All seven firms boosted their price targets to points in the $75-100 range.

Continue reading Sigma Designs (SIGM) shares consolidate recent gain in bullish ‘pennant’

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This entry was posted on Wednesday, December 5th, 2007 at 1:46 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.