Gigamon Inc. (NYSE:GIMO) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.
Several other analysts also recently weighed in on GIMO. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Gigamon in a research note on Monday, June 19th. Bank of America Corporation reissued a “neutral” rating and issued a $43.00 price objective (up previously from $33.00) on shares of Gigamon in a research note on Thursday, June 22nd. DA Davidson boosted their price objective on Gigamon from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 price objective on shares of Gigamon in a research note on Sunday, July 30th. Finally, Dougherty & Co raised Gigamon from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.95.
Shares of Gigamon (NYSE:GIMO) opened at 38.80 on Wednesday. Gigamon has a 12-month low of $28.50 and a 12-month high of $61.25. The firm has a 50-day moving average price of $42.40 and a 200 day moving average price of $39.22. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 491.14 and a beta of 1.50.
Gigamon (NYSE:GIMO) last announced its earnings results on Thursday, July 27th. The technology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The business had revenue of $69.10 million for the quarter, compared to the consensus estimate of $71.36 million. Gigamon had a net margin of 0.95% and a return on equity of 0.41%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. On average, equities research analysts anticipate that Gigamon will post $0.79 earnings per share for the current fiscal year.
In other news, Director Ted C. Ho sold 30,000 shares of the business’s stock in a transaction on 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 directly owns 16,919 shares of the company’s stock, valued at $688,264.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ted C. Ho sold 15,000 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $42.54, for a total value of $638,100.00. Following the sale, the director now directly owns 16,919 shares in the company, valued at $719,734.26. The disclosure for this sale can be found here. Insiders sold a total of 122,706 shares of company stock worth $5,144,239 in the last three months. Company insiders own 4.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Gigamon during the first quarter worth $100,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Gigamon during the second quarter worth $100,000. BNP Paribas Arbitrage SA raised its position in shares of Gigamon by 154.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,693 shares of the technology company’s stock worth $131,000 after purchasing an additional 2,239 shares during the period. Creative Planning raised its position in shares of Gigamon by 16.3% during the second quarter. Creative Planning now owns 4,070 shares of the technology company’s stock worth $160,000 after purchasing an additional 570 shares during the period. Finally, Pinebridge Investments L.P. acquired a new stake in shares of Gigamon during the second quarter worth $162,000. 97.84% of the stock is currently owned by institutional investors.
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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