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

Analysts at StockNews.com initiated coverage on shares of GigaMedia (NASDAQ:GIGM) in a report issued on Tuesday. The firm set a “sell” rating on the technology company’s stock.

GigaMedia Price Performance

NASDAQ:GIGM opened at $1.37 on Tuesday. The stock has a 50 day simple moving average of $1.43 and a 200 day simple moving average of $1.42. GigaMedia has a 1-year low of $1.12 and a 1-year high of $1.89.

GigaMedia (NASDAQ:GIGM) last announced its quarterly earnings data on Monday, July 31st. The technology company reported ($0.05) earnings per share for the quarter. The company had revenue of $1.03 million during the quarter. GigaMedia had a negative net margin of 33.90% and a negative return on equity of 3.52%.

Hedge Funds Weigh In On GigaMedia

A hedge fund recently bought a new stake in GigaMedia stock. Susquehanna International Group LLP acquired a new stake in GigaMedia Limited (NASDAQ:GIGM) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 26,538 shares of the technology company’s stock, valued at approximately $38,000. Susquehanna International Group LLP owned approximately 0.24% of GigaMedia at the end of the most recent reporting period.

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.