GigaMedia (NASDAQ:GIGM) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of GigaMedia (NASDAQ:GIGMGet Rating) in a note issued to investors on Friday. The firm set a “sell” rating on the technology company’s stock.

Shares of NASDAQ GIGM opened at $1.54 on Friday. GigaMedia has a 52 week low of $1.54 and a 52 week high of $3.34. The business has a 50-day simple moving average of $1.75 and a two-hundred day simple moving average of $2.08. The company has a market cap of $17.02 million, a P/E ratio of -4.53 and a beta of 0.23.

An institutional investor recently raised its position in GigaMedia stock. Morgan Stanley grew its holdings in shares of GigaMedia Limited (NASDAQ:GIGMGet Rating) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 324,666 shares of the technology company’s stock after acquiring an additional 9,440 shares during the quarter. Morgan Stanley owned about 2.94% of GigaMedia worth $984,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 3.61% of the company’s stock.

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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