TRAN THINH Q, CEO of Sigma Designs, bought 454,546 shares of Sigma Designs (SIGM) at $5.5 per share for the total amount of $2,500,000 on 12/20/2013. As of the time of writing of this story on Jan 2, 2014, Sigma Designs is trading at $4.68 per share.
According to Capital IQ via Yahoo, Tran Thinh’s most recent annual compensation was $551K pay and $183K in exercised options. Tranh is 59 years old. According to the biography, Mr. Thinh Q. Tran is President and Chief Executive Officer of Sigma Designs Inc. He resigned as Chairman of the Board of the Company, effective June 11, 2012. Prior to joining the company, Mr. Tran was employed by Amdahl Corporation and Trilogy Systems Corporation, both of which were involved in the IBM-compatible mainframe computer market. As President and Chief Executive Officer, a position he has held for over 30 years, Mr. Tran has knowledge of business, products and operations.
Sigma Designs is located in Milpitas, California.
Sigma Designs, Inc. (Sigma) is a provider of system-on-chip (SoC) solutions. The Company focuses on integrated chipset solutions that serve for Internet protocol television (IPTV) set-top boxes, connected media players, residential gateways and home control systems. It has four chipset product lines: media processor products, home networking products, video image processor and encoder products and home control and energy management automation products. The Company sells its products into four primary markets: IPTV media processor, connected home, connected media player, and the prosumer and industrial audio/video markets. The Company also sells a small amount of its chipsets into other markets, such as the digital signage, high definition television (HDTV) projection TV and personal computer (PC)-based, add-in markets. In May 2012, the Company completed its asset purchase of Trident Microsystems’ Digital Television (DTV) Business. In February 2013, it acquired Zensys Inc.
Sigma Designs has a market cap of $160 million, an enterprise value $100 million, and trailing twelve month revenues of $205 million. Recently, Sigma Designs made several product announcements.
On January 2, 2014, Sigma Designs, the leader in connected media platforms, and Mitsumi announced that Mitsumi is now a licensed second source for Z-Wave® 500 series wireless RF technology, a Sigma Designs technology. As a second source, Mitsumi will independently produce and deliver the latest generation of Z-Wave 500 series modules as well as a Mitsumi original design module that will expand the functionality for Z-Wave in more commercial markets making it easier for large multi-international companies and government operations that require a second source to adopt Z-Wave.
On January 2, 2014, Sigma Designs also announced that Novabase Digital TV Technologies, GmbH, company owned by Novabase, the Portuguese leader in IT, has selected Sigma Designs’ SMP8674 media processor for its HDMI-Stick IPTV STB. The device will debut at the 2014 CES show in Las Vegas 7-10 January 2014, and is the first operator-class HDMI-stick form factor IP-STB that is HbbTV compliant. The advanced, cost-effective solution also runs “httvLink” middleware by the French middleware vendor HTTV.
On December 23, 2013, Sigma Designs announced that it has appointed Pete Thompson to its Board of Directors effective immediately. According to the press release, Mr. Thompson previously served as Corporate Vice President of Microsoft Mediaroom, a technology leader for IPTV platforms, until its purchase by Ericsson, where he now serves as the Vice President of Ericsson’s Mediaroom Division. Mr. Thompson brings extensive market awareness, knowledge and experience to the Sigma Board. His successes include development of the breakthrough Natural User Interface with Microsoft Surface and leading the largest gaming and social network in the living room with Xbox LIVE.
ON December 11, 2013, Sigma Designs announced that net revenues for the third quarter of fiscal 2014 were $54.4 million, up $0.6 million, or 1.2%, from $53.8 million reported in the previous quarter and down $9.5 million, or 14.9%, from $63.9 million reported for the same period last year. Sigma also announced that its Board of Directors has authorized a share repurchase program of up to $20.0 million through December 31, 2014. Share repurchases may be made by the Company from time to time in privately negotiated transactions or in open market transactions.
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