Needham & Company LLC restated their buy rating on shares of Gigamon Inc. (NYSE:GIMO) in a report released on Thursday morning. They currently have a $50.00 price objective on the technology company’s stock.

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Gigamon from a hold rating to a sell rating in a research report on Wednesday, June 21st. DA Davidson increased their target price on Gigamon from $40.00 to $41.00 and gave the company a neutral rating in a research note on Friday, July 28th. Stifel Nicolaus reiterated a buy rating and set a $48.00 target price on shares of Gigamon in a research note on Sunday, July 30th. ValuEngine upgraded Gigamon from a sell rating to a hold rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research cut Gigamon from a buy rating to a hold rating in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $45.38.

Shares of Gigamon (GIMO) traded up 1.75% during mid-day trading on Thursday, hitting $43.70. 161,603 shares of the stock traded hands. Gigamon has a one year low of $28.50 and a one year high of $61.25. The stock has a market cap of $1.64 billion, a PE ratio of 553.16 and a beta of 1.53. The stock has a 50-day moving average of $39.90 and a 200 day moving average of $37.55.

Gigamon (NYSE:GIMO) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $71.36 million. During the same period last year, the business earned $0.30 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. Equities analysts predict that Gigamon will post $0.79 EPS for the current fiscal year.

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In related news, Director Ted C. Ho sold 60,000 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ted C. Ho sold 15,000 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $40.66, for a total value of $609,900.00. Following the transaction, the director now owns 16,919 shares in the company, valued at $687,926.54. The disclosure for this sale can be found here. Insiders have sold 167,706 shares of company stock worth $6,747,139 over the last 90 days. 4.50% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Creative Planning boosted its position in shares of Gigamon by 8.7% in the first quarter. Creative Planning now owns 3,500 shares of the technology company’s stock valued at $124,000 after buying an additional 279 shares during the period. Stoneridge Investment Partners LLC purchased a new position in shares of Gigamon during the first quarter valued at about $593,000. US Bancorp DE boosted its position in shares of Gigamon by 258.4% in the first quarter. US Bancorp DE now owns 11,083 shares of the technology company’s stock valued at $393,000 after buying an additional 7,991 shares during the period. BNP Paribas Arbitrage SA boosted its position 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 valued at $131,000 after buying an additional 2,239 shares during the period. Finally, Pictet Asset Management Ltd. purchased a new position in shares of Gigamon during the first quarter valued at about $4,842,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

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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