Gigamon Inc. (GIMO) Director Sells $580,200.00 in Stock
Gigamon Inc. (NYSE:GIMO) Director Ted C. Ho sold 15,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $38.68, for a total value of $580,200.00. Following the transaction, the director now directly owns 16,919 shares in the company, valued at approximately $654,426.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Gigamon Inc. (GIMO) opened at $38.60 on Thursday. Gigamon Inc. has a 1 year low of $28.50 and a 1 year high of $61.25.
Gigamon (NYSE:GIMO) last issued its quarterly earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. Gigamon had a negative return on equity of 0.55% and a negative net margin of 0.32%. The company had revenue of $79.20 million for the quarter, compared to analysts’ expectations of $84.73 million. During the same period last year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. analysts forecast that Gigamon Inc. will post -0.12 EPS for the current fiscal year.
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A number of research analysts have commented on GIMO shares. BidaskClub downgraded Gigamon from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. DA Davidson increased their price target on Gigamon from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 price target on shares of Gigamon in a research report on Sunday, July 30th. Needham & Company LLC set a $50.00 price target on Gigamon and gave the stock a “buy” rating in a research report on Saturday, July 29th. Finally, Dougherty & Co upgraded Gigamon from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $45.09.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in shares of Gigamon by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 13,980 shares of the technology company’s stock worth $550,000 after acquiring an additional 36 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Gigamon by 1.3% during the 2nd 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 in the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Gigamon by 0.6% during the 1st 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 in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Gigamon by 13.0% during the 2nd 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 in the last quarter. Finally, Creative Planning boosted its stake in shares of Gigamon by 16.3% during the 2nd quarter. Creative Planning now owns 4,070 shares of the technology company’s stock worth $160,000 after acquiring an additional 570 shares in the last quarter. 98.69% of the stock is owned by institutional investors and hedge funds.
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.
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