GigaMedia (NASDAQ:GIGM) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of GigaMedia (NASDAQ:GIGM – Get Rating) in a report released on Tuesday. The firm set a “sell” rating on the technology company’s stock.

GigaMedia Stock Down 2.1 %

GIGM stock opened at $1.42 on Tuesday. The company has a market capitalization of $15.69 million, a P/E ratio of -6.76 and a beta of 0.34. The company has a 50-day simple moving average of $1.42 and a 200 day simple moving average of $1.34. GigaMedia has a fifty-two week low of $1.12 and a fifty-two week high of $2.97.

Institutional Investors Weigh In On GigaMedia

A hedge fund recently bought a new stake in GigaMedia stock. Two Sigma Investments LP purchased a new position in GigaMedia Limited (NASDAQ:GIGM – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 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. Institutional investors and hedge funds own 3.92% of the company’s stock.

About GigaMedia

(Get Rating)

GigaMedia Ltd. is engaged in the provision of digital entertainment services. Through its subsidiary, FunTown, it manages mobile and browse-based casual games. Its portfolio includes MahJong, online card games, and multi-player role-playing online games. The company was founded in October 1998 and is headquartered in Taipei, Taiwan.