Gigamon Inc. (NYSE:GIMO)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a report released on Tuesday. They currently have a $50.00 price target on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 11.86% from the company’s previous close.
A number of other analysts have also recently weighed in on GIMO. ValuEngine upgraded shares of Gigamon from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price target on shares of Gigamon in a research note on Monday, June 5th. Zacks Investment Research cut shares of Gigamon from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. BidaskClub cut shares of Gigamon from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Finally, Bank of America Corporation restated a “neutral” rating and issued a $43.00 target price (up previously from $33.00) on shares of Gigamon in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $45.38.
Gigamon (GIMO) traded up 2.76% during midday trading on Tuesday, hitting $44.70. 1,392,272 shares of the stock traded hands. Gigamon has a one year low of $28.50 and a one year high of $61.25. The company has a 50-day moving average price of $40.61 and a 200 day moving average price of $37.89. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 565.82 and a beta of 1.51.
Gigamon (NYSE:GIMO) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.12). The business had revenue of $69.10 million for the quarter, compared to analyst estimates of $71.36 million. Gigamon had a return on equity of 0.41% and a net margin of 0.95%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. Equities research analysts anticipate that Gigamon will post $0.79 earnings per share for the current year.
In other news, Director Ted C. Ho sold 15,000 shares of Gigamon stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $40.66, for a total transaction of $609,900.00. Following the completion of the sale, the director now directly owns 16,919 shares in the company, valued at $687,926.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ted C. Ho sold 30,000 shares of Gigamon stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $40.68, for a total transaction of $1,220,400.00. Following the sale, the director now owns 16,919 shares of the company’s stock, valued at $688,264.92. The disclosure for this sale can be found here. Insiders have sold a total of 107,706 shares of company stock valued at $4,252,339 over the last 90 days. 4.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Alps Advisors Inc. grew its holdings in shares of Gigamon by 0.3% during the second quarter. Alps Advisors Inc. now owns 13,980 shares of the technology company’s stock worth $550,000 after buying an additional 36 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Gigamon by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 11,310 shares of the technology company’s stock worth $432,000 after acquiring an additional 150 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Gigamon by 0.6% in the first quarter. Parametric Portfolio Associates LLC now owns 40,136 shares of the technology company’s stock worth $1,427,000 after acquiring an additional 236 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Gigamon by 13.0% in the second quarter. Ameritas Investment Partners Inc. now owns 3,172 shares of the technology company’s stock worth $125,000 after acquiring an additional 365 shares during the last quarter. Finally, Creative Planning boosted its position in shares of Gigamon by 16.3% in the second quarter. Creative Planning now owns 4,070 shares of the technology company’s stock worth $160,000 after acquiring an additional 570 shares during the last quarter. Institutional investors and hedge funds 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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