William Blair reiterated their outperform rating on shares of Gigamon Inc. (NYSE:GIMO) in a research note published on Wednesday morning.

Analyst Recommendations for Gigamon (NYSE:GIMO)

GIMO has been the topic of several other research reports. TheStreet raised shares of Gigamon from a hold rating to a buy rating in a report on Thursday, July 28th. Zacks Investment Research raised shares of Gigamon from a hold rating to a strong-buy rating and set a $48.00 target price on the stock in a report on Wednesday, July 27th. Needham & Company LLC reaffirmed a buy rating and issued a $40.00 target price on shares of Gigamon in a report on Wednesday, June 1st. Credit Suisse Group AG reaffirmed an outperform rating and issued a $40.00 target price on shares of Gigamon in a report on Wednesday, May 18th. Finally, Northland Securities assumed coverage on shares of Gigamon in a report on Wednesday, June 22nd. They issued an outperform rating and a $50.00 target price on the stock. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $49.00.

Shares of Gigamon (NYSE:GIMO) opened at 53.70 on Wednesday. Gigamon has a 12-month low of $18.93 and a 12-month high of $55.00. The stock has a market capitalization of $1.89 billion, a P/E ratio of 46.45 and a beta of 1.83. The stock has a 50 day moving average of $45.89 and a 200 day moving average of $36.44.

Gigamon (NYSE:GIMO) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.06. The business had revenue of $75.10 million for the quarter, compared to analysts’ expectations of $70.10 million. Gigamon had a net margin of 16.46% and a return on equity of 6.28%. The business’s quarterly revenue was up 46.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. Equities research analysts anticipate that Gigamon will post $1.17 EPS for the current fiscal year.

In other Gigamon news, insider Paul B. Shinn sold 132,978 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $45.75, for a total transaction of $6,083,743.50. Following the sale, the insider now owns 120,992 shares of the company’s stock, valued at $5,535,384. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Helmut Wilke sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $45.24, for a total transaction of $180,960.00. Following the sale, the vice president now directly owns 69,113 shares in the company, valued at approximately $3,126,672.12. The disclosure for this sale can be found here. Company insiders own 9.66% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in GIMO. Renaissance Technologies LLC boosted its stake in Gigamon by 23.7% in the first quarter. Renaissance Technologies LLC now owns 996,600 shares of the company’s stock worth $30,915,000 after buying an additional 191,200 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Gigamon during the first quarter worth $233,000. UBS Asset Management Americas Inc. boosted its stake in Gigamon by 37.2% in the first quarter. UBS Asset Management Americas Inc. now owns 526,032 shares of the company’s stock worth $16,318,000 after buying an additional 142,519 shares during the last quarter. HBK Investments L P boosted its stake in Gigamon by 96.5% in the first quarter. HBK Investments L P now owns 56,600 shares of the company’s stock worth $1,756,000 after buying an additional 27,789 shares during the last quarter. Finally, Susquehanna International Group LLP boosted its stake in Gigamon by 182.7% in the fourth quarter. Susquehanna International Group LLP now owns 75,960 shares of the company’s stock worth $2,018,000 after buying an additional 49,095 shares during the last quarter. 78.33% of the stock is currently owned by institutional investors.

About Gigamon

Gigamon Inc offers solutions that deliver visibility and control of traffic across networks. The Company’s Visibility Fabric solution consists of a distributed system of nodes that enable a level of visibility, modification and control of network traffic. Its GigaSECURE Security Delivery Platform enables the delivery of network, data as a service, for multiple security tools.

5 Day Chart for NYSE:GIMO

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