Gigamon Inc. (NYSE:GIMO) was downgraded by research analysts at Raymond James Financial Inc. from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday.
GIMO has been the topic of several other research reports. Stifel Nicolaus began coverage on shares of Gigamon in a report on Tuesday, August 30th. They issued a “hold” rating on the stock. William Blair restated an “outperform” rating on shares of Gigamon in a report on Wednesday, September 14th. Zacks Investment Research upgraded shares of Gigamon from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Wednesday, September 28th. Needham & Company LLC restated a “buy” rating and set a $52.00 target price on shares of Gigamon in a report on Wednesday, September 7th. Finally, Rosenblatt Securities began coverage on shares of Gigamon in a report on Monday, August 1st. They set a “buy” rating and a $55.00 target price on the stock. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $53.00.
Gigamon (NYSE:GIMO) opened at 51.05 on Wednesday. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 44.16 and a beta of 1.77. Gigamon has a 52 week low of $19.57 and a 52 week high of $56.38. The company’s 50-day moving average is $49.11 and its 200 day moving average is $38.63.
Gigamon (NYSE:GIMO) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.06. The business had revenue of $75.10 million for 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%. The firm’s revenue for the quarter was up 46.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 earnings per share. On average, analysts forecast that Gigamon will post $1.16 EPS for the current fiscal year.
In other Gigamon news, VP Helmut Wilke sold 4,000 shares of the business’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $45.24, for a total value of $180,960.00. Following the completion of the transaction, the vice president now owns 69,113 shares of the company’s stock, valued at approximately $3,126,672.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mike Burns sold 16,000 shares of the business’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $40.00, for a total value of $640,000.00. Following the completion of the transaction, the chief financial officer now directly owns 93,847 shares of the company’s stock, valued at approximately $3,753,880. The disclosure for this sale can be found here. 9.66% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in GIMO. Advisor Group Inc. acquired a new stake in Gigamon during the second quarter valued at approximately $112,000. Teacher Retirement System of Texas raised its stake in Gigamon by 84.9% in the second quarter. Teacher Retirement System of Texas now owns 3,870 shares of the company’s stock valued at $145,000 after buying an additional 1,777 shares during the last quarter. Legal & General Group Plc raised its stake in Gigamon by 3.9% in the second quarter. Legal & General Group Plc now owns 4,360 shares of the company’s stock valued at $159,000 after buying an additional 164 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Gigamon by 150.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,175 shares of the company’s stock valued at $174,000 after buying an additional 1,907 shares during the last quarter. Finally, Gerstein Fisher acquired a new stake in Gigamon during the second quarter valued at approximately $206,000. 78.33% of the stock is owned by hedge funds and other institutional investors.
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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