GigaMedia (NASDAQ:GIGM) Earns Sell Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of GigaMedia (NASDAQ:GIGM) in a report issued on Tuesday morning. The brokerage issued a sell rating on the technology company’s stock.

GigaMedia Stock Performance

Shares of GIGM stock opened at $1.31 on Tuesday. The stock’s fifty day moving average is $1.30 and its 200-day moving average is $1.36. GigaMedia has a 52 week low of $1.23 and a 52 week high of $1.62. The stock has a market capitalization of $14.48 million, a PE ratio of -4.09 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 acquired a new position in GigaMedia Limited (NASDAQ:GIGM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 31,395 shares of the technology company’s stock, valued at approximately $40,000. Two Sigma Investments LP owned about 0.28% of GigaMedia at the end of the most recent reporting period. 13.50% of the stock is currently owned by institutional investors.

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.