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

Research analysts at StockNews.com began coverage on shares of GigaMedia (NASDAQ:GIGM – Get Rating) in a report released on Sunday. The brokerage set a “sell” rating on the technology company’s stock.

GigaMedia Stock Performance

NASDAQ:GIGM opened at $1.37 on Friday. GigaMedia has a 52 week low of $1.12 and a 52 week high of $2.97. The firm has a market cap of $15.14 million, a price-to-earnings ratio of -3.70 and a beta of 0.34. The firm’s 50-day simple moving average is $1.37 and its 200 day simple moving average is $1.33.

Institutional Investors Weigh In On GigaMedia

An institutional investor recently bought a new position in GigaMedia stock. Two Sigma Investments LP purchased a new stake in shares of GigaMedia Limited (NASDAQ:GIGM – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the SEC. 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. Hedge funds and other institutional investors own 3.92% of the company’s stock.

About GigaMedia

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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.