Research analysts at JMP Securities initiated coverage on shares of Gigamon Inc. (NYSE:GIMO) in a research report issued to clients and investors on Thursday, StockTargetPrices.com reports. The brokerage set a “market perform” rating on the stock.
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of Gigamon from a “hold” rating to a “strong-buy” rating and set a $48.00 price target for the company in a research note on Wednesday, July 27th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target (up previously from $40.00) on shares of Gigamon in a research note on Monday, July 18th. Northland Securities assumed coverage on shares of Gigamon in a research note on Wednesday, June 22nd. They issued an “outperform” rating and a $50.00 price target for the company. Raymond James Financial Inc. cut shares of Gigamon from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, TheStreet raised shares of Gigamon from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Gigamon has an average rating of “Buy” and a consensus target price of $53.00.
Gigamon (NYSE:GIMO) opened at 51.81 on Thursday. The company has a market cap of $1.83 billion, a P/E ratio of 44.82 and a beta of 1.77. The company has a 50-day moving average of $48.92 and a 200 day moving average of $38.54. Gigamon has a 52 week low of $19.57 and a 52 week high of $56.38.
Gigamon (NYSE:GIMO) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The company earned $75.10 million during the quarter, compared to analysts’ expectations of $70.10 million. Gigamon had a net margin of 16.46% and a return on equity of 6.28%. Gigamon’s revenue for the quarter was up 46.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 earnings per share. On average, equities analysts forecast that Gigamon will post $1.17 EPS for the current fiscal year.
In related news, Director Ted C. Ho sold 65,000 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $44.87, for a total transaction of $2,916,550.00. Following the completion of the sale, the director now directly owns 11,837 shares in the company, valued at approximately $531,126.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mike Burns sold 1,000 shares of the company’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $52.10, for a total transaction of $52,100.00. Following the sale, the chief financial officer now owns 77,637 shares of the company’s stock, valued at $4,044,887.70. The disclosure for this sale can be found here. 9.66% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Bayesian Capital Management LP purchased a new stake in Gigamon during the first quarter worth approximately $233,000. Renaissance Technologies LLC raised its stake in Gigamon by 23.7% in the first quarter. Renaissance Technologies LLC now owns 996,600 shares of the company’s stock worth $30,915,000 after buying an additional 191,200 shares in the last quarter. Granahan Investment Management Inc. MA raised its stake in Gigamon by 2.0% in the first quarter. Granahan Investment Management Inc. MA now owns 1,268,255 shares of the company’s stock worth $39,341,000 after buying an additional 24,933 shares in the last quarter. HBK Investments L P raised its stake in Gigamon by 96.5% in the first quarter. HBK Investments L P now owns 56,600 shares of the company’s stock worth $1,756,000 after buying an additional 27,789 shares in the last quarter. Finally, Friess Associates LLC purchased a new stake in Gigamon during the first quarter worth approximately $4,188,000. Institutional investors own 78.33% of the company’s stock.
Gigamon Company Profile
Gigamon Inc offers solutions that deliver visibility and control of traffic across networks. The Company’s Visibility Fabric solution consists of a distributed system of nodes that enable a level of visibility, modification and control of network traffic. Its GigaSECURE Security Delivery Platform enables the delivery of network, data as a service, for multiple security tools.
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