GigaMedia (NASDAQ:GIGM) Research Coverage Started at StockNews.com

Research analysts at StockNews.com began coverage on shares of GigaMedia (NASDAQ:GIGM) in a research note issued on Tuesday. The firm set a “sell” rating on the technology company’s stock.

GigaMedia Stock Performance

GIGM stock opened at $1.29 on Tuesday. The company’s 50-day simple moving average is $1.30 and its 200 day simple moving average is $1.36. GigaMedia has a 52 week low of $1.23 and a 52 week high of $1.62. The company has a market capitalization of $14.25 million, a PE ratio of -4.03 and a beta of 0.43.

Hedge Funds Weigh In On GigaMedia

An institutional investor recently bought a new position in GigaMedia stock. Two Sigma Investments LP purchased a new stake in GigaMedia Limited (NASDAQ:GIGM) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 13.50% of the company’s stock.

GigaMedia Company Profile

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.