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

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

GigaMedia Stock Up 1.6 %

GIGM opened at $1.31 on Tuesday. The stock has a market cap of $14.48 million, a price-to-earnings ratio of -4.09 and a beta of 0.43. GigaMedia has a 12-month low of $1.23 and a 12-month high of $1.62. The business has a 50 day moving average of $1.30 and a 200-day moving average of $1.36.

Hedge Funds Weigh In On GigaMedia

An institutional investor recently bought a new position in GigaMedia stock. Susquehanna International Group LLP bought a new position in shares of GigaMedia Limited (NASDAQ:GIGM) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 26,538 shares of the technology company’s stock, valued at approximately $38,000. Susquehanna International Group LLP owned about 0.24% of GigaMedia as of its most recent filing with the Securities and Exchange Commission. 13.50% of the stock is owned by hedge funds and other institutional investors.

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.