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

StockNews.com assumed coverage on shares of GigaMedia (NASDAQ:GIGMGet Rating) in a research note issued on Tuesday. The brokerage set a “sell” rating on the technology company’s stock.

Shares of NASDAQ GIGM opened at $1.66 on Tuesday. The company’s 50 day moving average price is $1.86. GigaMedia has a 52-week low of $1.64 and a 52-week high of $3.34. The firm has a market capitalization of $18.34 million, a PE ratio of -5.19 and a beta of 0.22.

A hedge fund recently bought a new stake in GigaMedia stock. Susquehanna International Group LLP acquired a new stake in shares of GigaMedia Limited (NASDAQ:GIGMGet Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,054 shares of the technology company’s stock, valued at approximately $36,000. Susquehanna International Group LLP owned approximately 0.15% of GigaMedia as of its most recent SEC filing. 3.48% of the stock is currently owned by institutional investors and hedge funds.

GigaMedia Company Profile (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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