GigaMedia (NASDAQ:GIGM) Stock Price Up 8.1%

GigaMedia Limited (NASDAQ:GIGM) shares rose 8.1% during mid-day trading on Wednesday . The company traded as high as $3.47 and last traded at $3.47. Approximately 117,928 shares were traded during mid-day trading, an increase of 142% from the average daily volume of 48,741 shares. The stock had previously closed at $3.21.

The stock has a fifty day moving average price of $3.02 and a 200-day moving average price of $2.90. The firm has a market capitalization of $38.35 million, a price-to-earnings ratio of -34.70 and a beta of 0.12.

GigaMedia (NASDAQ:GIGM) last released its quarterly earnings results on Friday, October 30th. The technology company reported ($0.02) earnings per share for the quarter. GigaMedia had a negative net margin of 15.83% and a negative return on equity of 1.85%. The business had revenue of $2.03 million for the quarter.

An institutional investor recently raised its position in GigaMedia stock. Morgan Stanley boosted its holdings in GigaMedia Limited (NASDAQ:GIGM) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 306,706 shares of the technology company’s stock after purchasing an additional 6,070 shares during the quarter. Morgan Stanley owned approximately 2.78% of GigaMedia worth $872,000 as of its most recent SEC filing. 4.30% of the stock is owned by hedge funds and other institutional investors.

GigaMedia Company Profile (NASDAQ:GIGM)

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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