Needham & Company LLC set a $50.00 price objective on Gigamon Inc. (NYSE:GIMO) in a research report sent to investors on Saturday morning. The brokerage currently has a buy rating on the technology company’s stock.

GIMO has been the topic of several other reports. William Blair lowered shares of Gigamon from an outperform rating to a market perform rating in a report on Friday, April 28th. DA Davidson lowered shares of Gigamon from a buy rating to a neutral rating and upped their price objective for the stock from $36.00 to $40.00 in a report on Tuesday, May 9th. Bank of America Corp restated a neutral rating and issued a $43.00 price objective (up from $33.00) on shares of Gigamon in a report on Thursday, June 22nd. Vetr lowered shares of Gigamon from a strong-buy rating to a hold rating and set a $42.50 price objective on the stock. in a report on Monday, May 8th. Finally, Credit Suisse Group lowered shares of Gigamon from an outperform rating to a neutral rating and decreased their price objective for the stock from $38.00 to $29.00 in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $45.38.

Gigamon (GIMO) opened at 40.65 on Friday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 40.65 and a beta of 1.53. Gigamon has a 12 month low of $28.50 and a 12 month high of $61.25. The stock’s 50 day moving average is $39.33 and its 200-day moving average is $36.47.

Gigamon (NYSE:GIMO) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by $0.12. Gigamon had a return on equity of 0.41% and a net margin of 0.95%. The company had revenue of $69.10 million during the quarter, compared to analyst estimates of $71.36 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. The business’s revenue was down 8.0% compared to the same quarter last year. On average, equities research analysts expect that Gigamon will post $0.70 earnings per share for the current year.

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In related news, VP Helmut Wilke sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $34.66, for a total transaction of $519,900.00. Following the sale, the vice president now directly owns 52,441 shares of the company’s stock, valued at approximately $1,817,605.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ted C. Ho sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $41.58, for a total transaction of $2,494,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,964 shares of company stock worth $5,887,898. 4.50% of the stock is owned by insiders.

Large 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 valued at $100,000. Creative Planning increased its stake in shares of Gigamon by 8.7% in the first quarter. Creative Planning now owns 3,500 shares of the technology company’s stock worth $124,000 after buying an additional 279 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Gigamon by 154.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,693 shares of the technology company’s stock worth $131,000 after buying an additional 2,239 shares in the last quarter. LS Investment Advisors LLC purchased a new stake in shares of Gigamon during the second quarter worth approximately $172,000. Finally, FNY Managed Accounts LLC purchased a new stake in shares of Gigamon during the first quarter worth approximately $213,000. 84.16% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Gigamon (NYSE:GIMO)

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