Begins Coverage on GigaMedia (NASDAQ:GIGM)

Research analysts at began coverage on shares of GigaMedia (NASDAQ:GIGMGet Rating) in a report issued on Wednesday. The firm set a “sell” rating on the technology company’s stock.

GigaMedia stock opened at $1.57 on Wednesday. The company has a market capitalization of $17.35 million, a P/E ratio of -4.62 and a beta of 0.23. The stock’s 50 day moving average is $1.64 and its 200 day moving average is $1.90. GigaMedia has a twelve month low of $1.49 and a twelve month high of $3.34.

GigaMedia (NASDAQ:GIGMGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The technology company reported ($0.10) earnings per share for the quarter. GigaMedia had a negative return on equity of 7.09% and a negative net margin of 65.36%. The company had revenue of $1.55 million during the quarter.

An institutional investor recently bought a new position in GigaMedia stock. Susquehanna International Group LLP purchased a new position in GigaMedia Limited (NASDAQ:GIGMGet Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,054 shares of the technology company’s stock, valued at approximately $36,000. Susquehanna International Group LLP owned about 0.15% of GigaMedia at the end of the most recent reporting period. 3.61% of the stock is currently owned by institutional investors.

About GigaMedia (Get Rating)

GigaMedia Limited provides digital entertainment services in Taiwan and Hong Kong. The company operates FunTown, a digital entertainment portal that offers mobile and browser-based casual games through -branded platform. It offers MahJong, a traditional Chinese tile-based game; casual card and table games; online card games; and chance-based games, including bingo, lotto, horse racing, Sic-Bo, slots, and various casual games.

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