NEW YORK (

TheStreet

) -- Shares of

Sigma Designs

(Nasdaq:

SIGM

) were gapping down Thursday morning with an open price 11.4% lower than Wednesday's closing price. The stock closed at $8.44 Wednesday and opened today's trading at $7.48.

The average volume for Sigma Designs has been 436,400 shares per day over the past 30 days. Sigma Designs has a market cap of $263.8 million and is part of the

technology

sector and

electronics

industry. Shares are down 40.4% year to date as of the close of trading on Wednesday.

Sigma Designs, Inc. provides integrated system-on-chip solutions (SoC) for the Internet protocol television (IPTV), media processor, connected home and media player, prosumer and industrial audio/video, high definition television, and PC-based add-in markets. The company has a P/E ratio of 118.4, above the average electronics industry P/E ratio of 103.6 and above the S&P 500 P/E ratio of 17.7.

TheStreet Recommends

TheStreet Ratings rates Sigma Designs as a

hold

. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, unimpressive growth in net income and weak operating cash flow. You can view the full

Sigma Designs Ratings Report

.

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