Gigamon Inc. (GIMO) Raised to Hold at ValuEngine
Gigamon Inc. (NYSE:GIMO) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday.
Other equities research analysts have also issued reports about the stock. Stifel Nicolaus reiterated a “buy” rating and set a $45.00 price target on shares of Gigamon in a report on Monday, June 5th. Needham & Company LLC upped their price target on shares of Gigamon from $34.00 to $50.00 and gave the company a “buy” rating in a report on Monday, June 5th. Dougherty & Co upgraded shares of Gigamon from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a report on Monday, July 31st. BidaskClub upgraded shares of Gigamon from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Vetr lowered shares of Gigamon from a “strong-buy” rating to a “hold” rating and set a $42.50 price target for the company. in a report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $45.38.
Gigamon (GIMO) opened at 43.65 on Friday. The company has a market cap of $1.63 billion, a P/E ratio of 552.53 and a beta of 1.53. The stock’s 50 day moving average is $40.04 and its 200 day moving average is $37.62. Gigamon has a 1-year low of $28.50 and a 1-year high of $61.25.
Gigamon (NYSE:GIMO) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported ($0.20) 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 firm had revenue of $69.10 million for the quarter, compared to the consensus estimate of $71.36 million. During the same quarter in the prior year, the company earned $0.30 earnings per share. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities analysts anticipate that Gigamon will post $0.79 earnings per share for the current fiscal year.
In other Gigamon news, insider Paul B. Shinn sold 2,706 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $39.63, for a total value of $107,238.78. Following the completion of the transaction, the insider now directly owns 32,985 shares in the company, valued at approximately $1,307,195.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ted C. Ho sold 60,000 shares of the company’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $38.58, for a total transaction of $2,314,800.00. The disclosure for this sale can be found here. Insiders sold a total of 167,706 shares of company stock valued at $6,747,139 over the last 90 days. Company insiders own 4.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in shares of Gigamon during the first quarter valued at approximately $100,000. Cubist Systematic Strategies LLC acquired a new stake in Gigamon during the second quarter worth $100,000. Creative Planning increased its stake in 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 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. Finally, Pinebridge Investments L.P. acquired a new stake in Gigamon during the second quarter worth $162,000. Institutional investors and hedge funds own 97.97% of the company’s stock.
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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