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

StockNews.com began coverage on shares of GigaMedia (NASDAQ:GIGMGet Rating) in a research report released on Monday. The brokerage issued a sell rating on the technology company’s stock.

GigaMedia Stock Down 1.6 %

NASDAQ GIGM opened at $1.24 on Monday. GigaMedia has a twelve month low of $1.12 and a twelve month high of $2.97. The company has a market cap of $13.70 million, a price-to-earnings ratio of -3.35 and a beta of 0.31. The business’s fifty day moving average is $1.25 and its 200 day moving average is $1.47.

Institutional Investors Weigh In On GigaMedia

A hedge fund recently bought a new stake in GigaMedia stock. Two Sigma Investments LP acquired a new stake in shares of GigaMedia Limited (NASDAQ:GIGMGet Rating) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 31,395 shares of the technology company’s stock, valued at approximately $40,000. Two Sigma Investments LP owned approximately 0.28% of GigaMedia as of its most recent SEC filing. Institutional investors and hedge funds own 4.04% of the company’s stock.

About GigaMedia

(Get Rating)

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.

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