According to Zacks, “Gigamon Inc. is engaged in providing intelligent Traffic Visibility solutions for enterprises, data centers and service providers. Its products consist of GigaVUE, GigaSECURE, GigaSMART and GigaTAP products. The Company’s fabric enables information technology organizations to forward traffic from network infrastructure to management, analysis, and compliance and security tools. It has operations primarily in the United States, the rest of North America, Europe, the Middle East, Africa, and the Asia Pacific. Gigamon Inc. is headquartered in Milpitas, California. “
Other research analysts have also issued research reports about the company. Rosenblatt Securities initiated coverage on Gigamon in a research report on Monday, August 1st. They set a buy rating and a $55.00 target price on the stock. TheStreet upgraded Gigamon from a hold rating to a buy rating in a report on Thursday, July 28th. Needham & Company LLC raised their price objective on Gigamon from $50.00 to $52.00 and gave the company a buy rating in a report on Friday, July 29th. Stifel Nicolaus initiated coverage on Gigamon in a report on Tuesday, August 30th. They issued a hold rating on the stock. Finally, Citigroup Inc. lowered Gigamon to a market perform rating in a report on Wednesday, October 5th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Gigamon has an average rating of Hold and an average target price of $53.00.
Shares of Gigamon (NYSE:GIMO) opened at 49.77 on Friday. The company has a market cap of $1.76 billion, a PE ratio of 43.05 and a beta of 1.77. Gigamon has a 12 month low of $20.01 and a 12 month high of $56.38. The company has a 50-day moving average of $49.79 and a 200 day moving average of $39.21.
Gigamon (NYSE:GIMO) last announced its earnings results on Thursday, July 28th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Gigamon had a return on equity of 6.28% and a net margin of 16.46%. The firm had revenue of $75.10 million for the quarter, compared to analyst estimates of $70.10 million. During the same quarter last year, the firm posted $0.16 EPS. The business’s revenue was up 46.1% on a year-over-year basis. On average, analysts anticipate that Gigamon will post $1.16 earnings per share for the current year.
In related news, Director Ted C. Ho sold 65,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was 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 of the company’s stock, valued at approximately $531,126.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mike Burns sold 3,068 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $45.41, for a total value of $139,317.88. Following the sale, the chief financial officer now directly owns 83,580 shares of the company’s stock, valued at $3,795,367.80. The disclosure for this sale can be found here. 9.66% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of GIMO. Eagle Asset Management Inc. increased its stake in shares of Gigamon by 16.4% in the third quarter. Eagle Asset Management Inc. now owns 258,927 shares of the company’s stock worth $14,189,000 after buying an additional 36,410 shares during the last quarter. Creative Planning increased its stake in shares of Gigamon by 300.3% in the third quarter. Creative Planning now owns 2,802 shares of the company’s stock worth $154,000 after buying an additional 2,102 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Gigamon by 150.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,175 shares of the company’s stock worth $174,000 after buying an additional 1,907 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Gigamon by 17.5% in the second quarter. Royal Bank of Canada now owns 28,959 shares of the company’s stock worth $1,083,000 after buying an additional 4,312 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Gigamon by 20.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 98,960 shares of the company’s stock worth $3,701,000 after buying an additional 16,850 shares during the last quarter. 78.33% of the stock is owned by hedge funds and other institutional investors.
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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