GigaMedia (NASDAQ:GIGM) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of GigaMedia (NASDAQ:GIGM – Get Rating) in a research note issued on Tuesday. The firm set a “sell” rating on the technology company’s stock.

GigaMedia Trading Up 2.2 %

GigaMedia stock opened at $1.41 on Tuesday. GigaMedia has a twelve month low of $1.12 and a twelve month high of $2.97. The stock’s fifty day simple moving average is $1.24 and its 200-day simple moving average is $1.36. The firm has a market capitalization of $15.58 million, a P/E ratio of -3.81 and a beta of 0.32.

GigaMedia (NASDAQ:GIGM – Get Rating) last issued its earnings results on Friday, October 28th. The technology company reported ($0.08) EPS for the quarter. The firm had revenue of $1.58 million for the quarter. GigaMedia had a negative return on equity of 8.22% and a negative net margin of 71.26%.

Hedge Funds Weigh In On GigaMedia

An institutional investor recently bought a new position in GigaMedia stock. Two Sigma Investments LP bought a new position in shares of GigaMedia Limited (NASDAQ:GIGM – Get Rating) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 31,395 shares of the technology company’s stock, valued at approximately $40,000. Two Sigma Investments LP owned approximately 0.28% of GigaMedia at the end of the most recent quarter. 3.92% of the stock is currently owned by institutional investors.

GigaMedia Company Profile

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GigaMedia Limited, together with its subsidiaries, 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.