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

StockNews.com began coverage on shares of GigaMedia (NASDAQ:GIGM – Get Rating) in a research note issued to investors on Saturday. The brokerage issued a sell rating on the technology company’s stock.

Shares of GIGM opened at $1.61 on Friday. The business’s 50 day moving average is $1.71 and its two-hundred day moving average is $2.02. GigaMedia has a 52-week low of $1.49 and a 52-week high of $3.34. The firm has a market cap of $17.79 million, a price-to-earnings ratio of -4.74 and a beta of 0.23.

GigaMedia (NASDAQ:GIGM – Get Rating) last announced its earnings results on Tuesday, May 3rd. The technology company reported ($0.10) earnings per share (EPS) for the quarter. GigaMedia had a negative net margin of 65.36% and a negative return on equity of 7.09%. The business had revenue of $1.55 million during the quarter.

An institutional investor recently raised its position in GigaMedia stock. Morgan Stanley lifted its position in shares of GigaMedia Limited (NASDAQ:GIGM – Get Rating) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 324,666 shares of the technology company’s stock after acquiring an additional 9,440 shares during the period. Morgan Stanley owned about 2.94% of GigaMedia worth $984,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.61% of the company’s stock.

GigaMedia Company Profile (Get Rating)

GigaMedia Limited provides digital entertainment services in Taiwan and Hong Kong. The company operates FunTown, a digital entertainment portal that offers mobile and browser-based casual games through -branded platform. It 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.

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