Granahan Investment Management Inc. MA Raises Stake in Gigamon Inc. (GIMO)
Granahan Investment Management Inc. MA increased its position in Gigamon Inc. (NYSE:GIMO) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,724 shares of the technology company’s stock after buying an additional 7,691 shares during the period. Granahan Investment Management Inc. MA owned 0.42% of Gigamon worth $6,606,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Elliott Management Corp acquired a new position in Gigamon during the 2nd quarter valued at about $103,546,000. Crossmark Global Holdings Inc. acquired a new position in Gigamon during the 3rd quarter valued at about $598,000. Alps Advisors Inc. boosted its stake in Gigamon by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 13,980 shares of the technology company’s stock valued at $550,000 after purchasing an additional 36 shares during the last quarter. Rhumbline Advisers boosted its stake in Gigamon by 73.9% during the 2nd quarter. Rhumbline Advisers now owns 65,887 shares of the technology company’s stock valued at $2,593,000 after purchasing an additional 28,010 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Gigamon during the 3rd quarter valued at about $1,066,000. Institutional investors own 96.79% of the company’s stock.
Gigamon Inc. (NYSE GIMO) traded down $0.05 during trading on Tuesday, hitting $38.50. 530,400 shares of the company’s stock traded hands, compared to its average volume of 1,103,409. Gigamon Inc. has a 1 year low of $28.50 and a 1 year high of $49.00.
Gigamon (NYSE:GIMO) last posted its earnings results on Thursday, October 26th. The technology company reported $0.23 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. Gigamon had a negative net margin of 0.32% and a negative return on equity of 0.55%. The firm had revenue of $79.20 million for the quarter, compared to analysts’ expectations of $84.73 million. During the same quarter last year, the firm earned $0.36 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. sell-side analysts forecast that Gigamon Inc. will post -0.12 earnings per share for the current year.
GIMO has been the subject of a number of analyst reports. BidaskClub upgraded Gigamon from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Gigamon in a research note on Thursday, August 31st. ValuEngine upgraded Gigamon from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 price target on shares of Gigamon in a research note on Tuesday, September 12th. Finally, JMP Securities downgraded Gigamon from an “outperform” rating to a “market perform” rating in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Gigamon currently has an average rating of “Hold” and a consensus target price of $45.09.
In other Gigamon news, Director Ted C. Ho sold 30,000 shares of Gigamon stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $42.99, for a total transaction of $1,289,700.00. Following the transaction, the director now owns 16,919 shares of the company’s stock, valued at approximately $727,347.81. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ted C. Ho sold 15,000 shares of Gigamon stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $42.54, for a total transaction of $638,100.00. Following the transaction, the director now directly owns 16,919 shares in the company, valued at approximately $719,734.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,072 shares of company stock worth $3,866,776. Insiders own 4.50% of the company’s stock.
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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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