NEW YORK (TheStreet) -- Shares of Sigma Designs (SIGM) were gaining 2.6% to $8.45 after-hours Wednesday after the chipmaker beat analysts' estimates for earnings in the fourth quarter of fiscal 2015.

Sigma Designs reported earnings of 4 cents a share for the fourth quarter, above analysts' estimates of break-even earnings for the quarter. Revenue grew 42.3% year over year to $54.3 million for the quarter, beating analysts' estimates of $53.16 million.

"We are pleased to report another quarter of sequential revenue growth in Q4, which comes after Q3, our seasonally strongest quarter," Sigma Designs President and CEO Thinh Tran said in a statement. "We also delivered continued non-GAAP profitability for the second quarter in a row. We achieved this revenue growth through a combination of increased customer volumes for our new Smart TV chipsets and substantial growth in our IoT devices."

TheStreet Ratings team rates SIGMA DESIGNS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate SIGMA DESIGNS INC (SIGM) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that revenues have generally been declining."

You can view the full analysis from the report here: SIGM Ratings Report

SIGM data by YCharts

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