California State Teachers Retirement System lowered its position in Gigamon Inc (NYSE:GIMO) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,932 shares of the technology company’s stock after selling 5,131 shares during the period. California State Teachers Retirement System’s holdings in Gigamon were worth $2,484,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Gigamon by 95.7% in the second quarter. BlackRock Inc. now owns 3,940,796 shares of the technology company’s stock valued at $155,072,000 after purchasing an additional 1,927,607 shares during the last quarter. Vanguard Group Inc. grew its position in Gigamon by 15.5% during the second quarter. Vanguard Group Inc. now owns 2,949,083 shares of the technology company’s stock valued at $116,046,000 after buying an additional 394,726 shares during the period. Elliott Management Corp bought a new position in Gigamon during the second quarter valued at about $103,546,000. Nomura Holdings Inc. bought a new position in Gigamon during the second quarter valued at about $55,350,000. Finally, Disciplined Growth Investors Inc. MN grew its position in Gigamon by 21.2% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,340,215 shares of the technology company’s stock valued at $52,737,000 after buying an additional 234,752 shares during the period. Institutional investors own 97.86% of the company’s stock.

Gigamon Inc (NYSE GIMO) opened at $38.50 on Friday.

Gigamon (NYSE:GIMO) last issued its earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $79.20 million during the quarter, compared to analyst estimates of $84.73 million. Gigamon had a negative net margin of 0.32% and a negative return on equity of 0.55%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. analysts expect that Gigamon Inc will post -0.12 earnings per share for the current year.

GIMO has been the subject of several research reports. Stifel Nicolaus restated a “buy” rating and set a $48.00 price target on shares of Gigamon in a research report on Monday, September 25th. Needham & Company LLC lowered shares of Gigamon from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. BidaskClub lowered shares of Gigamon from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. JMP Securities lowered shares of Gigamon from an “outperform” rating to a “market perform” rating in a research report on Friday, October 6th. Finally, Dougherty & Co lowered shares of Gigamon from a “buy” rating to a “neutral” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Gigamon presently has an average rating of “Hold” and a consensus target price of $45.09.

In other Gigamon news, SVP Paul B. Shinn sold 2,072 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $38.55, for a total transaction of $79,875.60. Following the completion of the transaction, the senior vice president now owns 28,185 shares in the company, valued at $1,086,531.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted C. Ho sold 30,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $38.51, for a total transaction of $1,155,300.00. Following the transaction, the director now owns 16,919 shares of the company’s stock, valued at approximately $651,550.69. The disclosure for this sale can be found here. Insiders have sold 47,072 shares of company stock valued at $1,815,376 in the last quarter. Company insiders own 4.50% of the company’s stock.

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About Gigamon

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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Institutional Ownership by Quarter for Gigamon (NYSE:GIMO)

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