Gigamon Inc. (NYSE:GIMO) Given Average Rating of “Buy” by Brokerages
Shares of Gigamon Inc. (NYSE:GIMO) have received a consensus rating of “Buy” from the nine brokerages that are presently covering the company. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $49.25.
A number of equities analysts have recently commented on the stock. TheStreet raised shares of Gigamon from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Zacks Investment Research raised shares of Gigamon from a “hold” rating to a “strong-buy” rating and set a $48.00 target price on the stock in a report on Wednesday, July 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of Gigamon in a report on Wednesday, June 1st. Northland Securities assumed coverage on shares of Gigamon in a report on Wednesday, June 22nd. They issued an “outperform” rating and a $50.00 target price on the stock. Finally, Rosenblatt Securities assumed coverage on shares of Gigamon in a report on Monday, August 1st. They issued a “buy” rating and a $55.00 target price on the stock.
Gigamon (NYSE:GIMO) traded up 2.009% during trading on Wednesday, reaching $53.065. 398,290 shares of the company’s stock were exchanged. Gigamon has a 52 week low of $18.93 and a 52 week high of $55.00. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 45.904 and a beta of 1.83. The stock has a 50-day moving average price of $46.08 and a 200 day moving average price of $36.61.
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Gigamon (NYSE:GIMO) last announced its earnings results on Thursday, July 28th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 46.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. Equities research analysts forecast that Gigamon will post $1.17 earnings per share for the current fiscal year.
In other Gigamon news, CFO Mike Burns sold 16,000 shares of the business’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $40.00, for a total transaction of $640,000.00. Following the sale, the chief financial officer now directly owns 93,847 shares in the company, valued at approximately $3,753,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul Hooper sold 45,000 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $44.92, for a total transaction of $2,021,400.00. Following the sale, the chief executive officer now owns 157,313 shares in the company, valued at $7,066,499.96. The disclosure for this sale can be found here. Company insiders own 9.66% of the company’s stock.
Several large investors have recently modified their holdings of the company. Boston Advisors LLC bought a new stake in shares of Gigamon during the first quarter valued at approximately $668,000. Nisa Investment Advisors L.L.C. raised its stake in shares of Gigamon by 5.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 11,600 shares of the company’s stock valued at $360,000 after buying an additional 600 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of Gigamon by 24.1% in the first quarter. Teachers Advisors Inc. now owns 356,138 shares of the company’s stock valued at $11,047,000 after buying an additional 69,148 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Gigamon during the first quarter valued at approximately $356,000. Finally, Algert Global LLC bought a new stake in shares of Gigamon during the first quarter valued at approximately $328,000. Institutional investors own 78.33% of the company’s stock.
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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