GigaMedia (NASDAQ:GIGM) Announces Earnings Results

GigaMedia (NASDAQ:GIGM) released its earnings results on Friday. The technology company reported $0.17 earnings per share (EPS) for the quarter, FiscalAI reports. GigaMedia had a negative return on equity of 5.36% and a negative net margin of 43.36%. The firm had revenue of $3.16 million for the quarter.

GigaMedia Stock Up 12.6%

Shares of NASDAQ GIGM traded up $0.15 during mid-day trading on Friday, hitting $1.39. 93,202 shares of the company traded hands, compared to its average volume of 6,483. GigaMedia has a 1 year low of $1.11 and a 1 year high of $1.66. The stock has a market capitalization of $15.31 million, a price-to-earnings ratio of -7.69 and a beta of 0.44. The business has a 50 day moving average of $1.35 and a two-hundred day moving average of $1.43.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of GigaMedia from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

GigaMedia Company Profile

GigaMedia Limited (NASDAQ: GIGM) is an online games and entertainment company focused primarily on markets in Greater China and Southeast Asia. Through its online entertainment platforms, the company provides casual and social games, including mahjong, poker, card and other multiplayer titles designed for play on computers and mobile devices.

The company operates the FunTown brand, which has historically served users in Taiwan and other Asian markets. Its services are generally supported by digital distribution and online platform features, including account management, virtual goods and other forms of in-game entertainment.

GigaMedia was founded in 1998 and initially developed telecommunications and broadband-related businesses in Taiwan before transitioning toward online games and entertainment.