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

StockNews.com assumed coverage on shares of GigaMedia (NASDAQ:GIGM) in a research report report published on Tuesday morning. The firm issued a sell rating on the technology company’s stock.

GigaMedia Trading Up 2.0 %

Shares of GIGM stock opened at $1.30 on Tuesday. The stock has a market capitalization of $14.31 million, a price-to-earnings ratio of -4.05 and a beta of 0.43. GigaMedia has a twelve month low of $1.23 and a twelve month high of $1.62. The stock has a fifty day simple moving average of $1.31 and a two-hundred day simple moving average of $1.36.

Institutional Investors Weigh In On GigaMedia

A hedge fund recently bought a new stake in GigaMedia stock. Two Sigma Investments LP acquired a new position in shares of GigaMedia Limited (NASDAQ:GIGM) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 31,395 shares of the technology company’s stock, valued at approximately $40,000. Two Sigma Investments LP owned about 0.28% of GigaMedia at the end of the most recent reporting period. 13.50% of the stock is currently owned by institutional investors.

About GigaMedia

GigaMedia Limited, together with its subsidiaries, provides digital entertainment services in Taiwan and Hong Kong. It operates FunTown, a digital entertainment portal that offers mobile and browser-based casual games through branded platform. The company 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.