Gigamon Inc. (GIMO) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Gigamon Inc. (NYSE:GIMO) from a hold rating to a sell rating in a research note released on Wednesday.

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. “

A number of other equities analysts have also recently issued reports on GIMO. Needham & Company LLC reissued a buy rating and issued a $38.00 target price on shares of Gigamon in a report on Monday, March 13th. FBN Securities initiated coverage on shares of Gigamon in a report on Thursday, March 16th. They issued an outperform rating and a $40.00 target price on the stock. JMP Securities raised shares of Gigamon from a market perform rating to an outperform rating and set a $45.00 target price on the stock in a report on Friday, March 17th. Stifel Nicolaus raised shares of Gigamon from a hold rating to a buy rating and raised their target price for the stock from $30.00 to $42.00 in a report on Thursday, April 20th. They noted that the move was a valuation call. Finally, Credit Suisse Group cut shares of Gigamon from an outperform rating to a neutral rating and cut their target price for the stock from $38.00 to $29.00 in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $47.42.

Shares of Gigamon (NYSE GIMO) opened at 39.25 on Wednesday. The firm’s 50-day moving average price is $38.66 and its 200-day moving average price is $38.08. Gigamon has a one year low of $28.50 and a one year high of $61.25. The stock has a market capitalization of $1.44 billion, a P/E ratio of 33.43 and a beta of 1.53.

Gigamon (NYSE:GIMO) last issued its earnings results on Thursday, April 27th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02. Gigamon had a net margin of 14.12% and a return on equity of 3.45%. The firm had revenue of $69.60 million for the quarter, compared to analysts’ expectations of $68.77 million. During the same quarter last year, the company posted $0.22 earnings per share. Gigamon’s revenue was up 3.6% on a year-over-year basis. Equities research analysts anticipate that Gigamon will post $0.69 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 that occurred on Thursday, April 6th. The shares were sold at an average price of $34.47, for a total transaction of $2,068,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Helmut Wilke sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $34.66, for a total transaction of $519,900.00. Following the transaction, the vice president now owns 52,441 shares in the company, valued at approximately $1,817,605.06. The disclosure for this sale can be found here. Insiders sold 208,964 shares of company stock worth $7,485,698 in the last 90 days. 4.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its position in Gigamon by 0.6% in the first quarter. Parametric Portfolio Associates LLC now owns 40,136 shares of the technology company’s stock worth $1,427,000 after buying an additional 236 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Gigamon by 5.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,755 shares of the technology company’s stock worth $216,000 after buying an additional 265 shares in the last quarter. Creative Planning raised its position in Gigamon by 8.7% in the first quarter. Creative Planning now owns 3,500 shares of the technology company’s stock worth $124,000 after buying an additional 279 shares in the last quarter. First Manhattan Co. raised its position in Gigamon by 2.4% in the first quarter. First Manhattan Co. now owns 43,100 shares of the technology company’s stock worth $2,361,000 after buying an additional 1,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Gigamon by 0.5% in the first quarter. Geode Capital Management LLC now owns 231,166 shares of the technology company’s stock worth $8,217,000 after buying an additional 1,173 shares in the last quarter. Institutional investors and hedge funds own 84.49% of the company’s stock.

Gigamon Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “GIMO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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