Gigamon VP Unloads $52,200 in Stock (GIMO)
Gigamon (NASDAQ:GIMO) VP Michael T. Hoffman unloaded 3,058 shares of the company’s stock on the open market in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $17.07, for a total value of $52,200.06. Following the transaction, the vice president now directly owns 19,266 shares in the company, valued at approximately $328,871. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Gigamon (NASDAQ:GIMO) traded up 0.23% on Friday, hitting $17.46. The stock had a trading volume of 259,500 shares. Gigamon has a 52-week low of $14.75 and a 52-week high of $41.81. The stock has a 50-day moving average of $17.06 and a 200-day moving average of $25.74. The company’s market cap is $557.0 million.
Gigamon (NASDAQ:GIMO) last posted its quarterly earnings results on Thursday, April 24th. The company reported ($0.07) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.07). The company had revenue of $31.80 million for the quarter, compared to the consensus estimate of $31.30 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. Analysts expect that Gigamon will post $0.33 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Credit Suisse upgraded shares of Gigamon from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 8th. They now have a $25.00 price target on the stock, up previously from $20.00. Separately, analysts at Zacks downgraded shares of Gigamon from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 29th. They now have a $15.60 price target on the stock. Finally, analysts at Needham & Company LLC upgraded shares of Gigamon from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. They now have a $34.00 price target on the stock, down previously from $44.00. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $31.49.
Gigamon Inc has developed solution that delivers visibility and control of traffic across networks. Its solution, which it refers to as its traffic visibility fabric, consists of distributed network appliances that provide an advanced level of network traffic intelligence.
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