Insider Buying: GigaMedia Limited (GIGM) CEO Acquires 12,964 Shares of Stock

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GigaMedia Limited (NASDAQ:GIGM) CEO Cheng-Ming Huang purchased 12,964 shares of the firm’s stock in a transaction on Monday, June 4th. The stock was acquired at an average cost of $2.98 per share, with a total value of $38,632.72. The purchase was disclosed in a filing with the SEC, which is available through this link.

Shares of GIGM opened at $3.01 on Friday. GigaMedia Limited has a twelve month low of $2.36 and a twelve month high of $4.37.

GigaMedia (NASDAQ:GIGM) last announced its quarterly earnings data on Wednesday, May 2nd. The technology company reported ($0.08) earnings per share for the quarter. GigaMedia had a net margin of 10.33% and a negative return on equity of 1.07%. The firm had revenue of $2.16 million during the quarter.

A hedge fund recently raised its stake in GigaMedia stock. Deutsche Bank AG increased its stake in shares of GigaMedia Limited (NASDAQ:GIGM) by 69.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,885 shares of the technology company’s stock after acquiring an additional 19,185 shares during the quarter. Deutsche Bank AG owned about 0.42% of GigaMedia worth $142,000 at the end of the most recent quarter. Institutional investors and hedge funds own 5.15% of the company’s stock.

Separately, TheStreet cut shares of GigaMedia from a “c” rating to a “d+” rating in a research report on Thursday, June 7th.

About GigaMedia

GigaMedia Limited provides digital entertainment services in Taiwan, Hong Kong, and Macau. The company offers mobile and browser-based casual games through FunTown-branded platform. Its portfolio of PC-based casual games include MahJong, a traditional Chinese tile game; sports games, Web-based RPG, and mobile games; online card games; and chance-based games, including bingo, lotto, horse racing, Sic-Bo, slots, and various casual games.

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