BlackRock Inc. boosted its position in Gigamon Inc. (NYSE:GIMO) by 95.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,940,796 shares of the technology company’s stock after buying an additional 1,927,607 shares during the quarter. BlackRock Inc. owned approximately 10.53% of Gigamon worth $155,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Credit Suisse AG boosted its stake in Gigamon by 3,567.2% in the first quarter. Credit Suisse AG now owns 1,525,774 shares of the technology company’s stock worth $54,241,000 after buying an additional 1,484,168 shares in the last quarter. American Capital Management Inc. boosted its stake in Gigamon by 33.6% in the second quarter. American Capital Management Inc. now owns 1,118,115 shares of the technology company’s stock worth $43,998,000 after buying an additional 281,510 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Gigamon by 57.7% in the second quarter. Bank of New York Mellon Corp now owns 587,474 shares of the technology company’s stock worth $23,117,000 after buying an additional 214,832 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Gigamon by 101.2% in the second quarter. Principal Financial Group Inc. now owns 479,148 shares of the technology company’s stock worth $18,854,000 after buying an additional 241,056 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Gigamon by 3.4% in the first quarter. UBS Asset Management Americas Inc. now owns 450,495 shares of the technology company’s stock worth $16,015,000 after buying an additional 14,973 shares in the last quarter. 97.84% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Gigamon in a research note on Monday, June 19th. BidaskClub raised Gigamon from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. ValuEngine raised Gigamon from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and set a $48.00 price objective on shares of Gigamon in a research note on Tuesday, September 12th. Finally, Bank of America Corporation reissued a “neutral” rating and set a $43.00 price objective (up previously from $33.00) on shares of Gigamon in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $45.95.

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Shares of Gigamon Inc. (GIMO) opened at 36.25 on Friday. The company has a 50-day moving average price of $42.15 and a 200-day moving average price of $39.21. Gigamon Inc. has a 52 week low of $28.50 and a 52 week high of $61.25. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 458.86 and a beta of 1.50.

Gigamon (NYSE:GIMO) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.12). Gigamon had a net margin of 0.95% and a return on equity of 0.41%. The business had revenue of $69.10 million for the quarter, compared to analysts’ expectations of $71.36 million. During the same quarter in the previous year, the firm earned $0.30 EPS. Gigamon’s revenue was down 8.0% compared to the same quarter last year. Equities analysts anticipate that Gigamon Inc. will post $0.79 EPS for the current year.

In other Gigamon news, Director Ted C. Ho sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $42.63, for a total value of $1,278,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul B. Shinn sold 2,706 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $39.63, for a total value of $107,238.78. Following the completion of the sale, the insider now owns 32,985 shares of the company’s stock, valued at $1,307,195.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,706 shares of company stock valued at $5,144,239. 4.50% of the stock is owned by company insiders.

Gigamon Company Profile

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.

Institutional Ownership by Quarter for Gigamon (NYSE:GIMO)

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