BidaskClub upgraded shares of Gigamon Inc. (NYSE:GIMO) from a hold rating to a buy rating in a research note released on Thursday morning.
Several other equities research analysts have also recently issued reports on the stock. Needham & Company LLC reaffirmed a buy rating and set a $50.00 price objective on shares of Gigamon in a research report on Monday, June 19th. ValuEngine raised shares of Gigamon from a sell rating to a hold rating in a research report on Friday, September 1st. Zacks Investment Research cut shares of Gigamon from a hold rating to a sell rating in a research report on Wednesday, June 14th. Stifel Nicolaus reaffirmed a buy rating and set a $45.00 price objective on shares of Gigamon in a research report on Monday, June 5th. Finally, DA Davidson lifted their price objective on shares of Gigamon from $40.00 to $41.00 and gave the stock a neutral rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $45.38.
Gigamon (NYSE GIMO) opened at 43.75 on Thursday. The firm has a market capitalization of $1.64 billion, a P/E ratio of 553.80 and a beta of 1.51. Gigamon has a 12 month low of $28.50 and a 12 month high of $61.25. The stock’s 50 day moving average price is $41.32 and its 200-day moving average price is $38.15.
Gigamon (NYSE:GIMO) last released its quarterly earnings data on Thursday, July 27th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.12). The firm had revenue of $69.10 million for the quarter, compared to analysts’ expectations of $71.36 million. Gigamon had a return on equity of 0.41% and a net margin of 0.95%. Gigamon’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. Equities analysts forecast that Gigamon will post $0.79 earnings per share for the current year.
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In other Gigamon news, insider Paul B. Shinn sold 2,706 shares of Gigamon stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $39.63, for a total value of $107,238.78. Following the transaction, the insider now directly owns 32,985 shares in the company, valued at $1,307,195.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ted C. Ho sold 30,000 shares of Gigamon stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $40.68, for a total transaction of $1,220,400.00. Following the completion of the transaction, the director now owns 16,919 shares in the company, valued at $688,264.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,706 shares of company stock valued at $4,252,339. 4.50% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of GIMO. US Bancorp DE increased its stake in Gigamon by 258.4% in the first quarter. US Bancorp DE now owns 11,083 shares of the technology company’s stock valued at $393,000 after purchasing an additional 7,991 shares during the period. BNP Paribas Arbitrage SA increased its stake in Gigamon by 154.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,693 shares of the technology company’s stock valued at $131,000 after purchasing an additional 2,239 shares during the period. Pictet Asset Management Ltd. acquired a new position in Gigamon in the first quarter valued at $4,842,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Gigamon by 2,331.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,324 shares of the technology company’s stock valued at $971,000 after purchasing an additional 26,200 shares during the period. Finally, Swiss National Bank increased its stake in Gigamon by 3.7% in the first quarter. Swiss National Bank now owns 47,600 shares of the technology company’s stock valued at $1,692,000 after purchasing an additional 1,700 shares during the period. Institutional investors own 97.97% of the company’s stock.
Gigamon Inc offers a solution that delivers visibility and control of data-in-motion traversing enterprise, federal and service provider networks. The Company’s Visibility Platform consists of a distributed system of nodes (that in combination establish a Visibility Fabric). The Visibility Platform includes physical appliances and virtual nodes that can be deployed in data centers, central offices, virtualized/private cloud/public cloud environments, and small form-factor remote site appliances, which in combination enable pervasive visibility of network infrastructures.
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