Gigamon Inc. (GIMO) Lowered to “Neutral” at DA Davidson
Gigamon Inc. (NYSE:GIMO) was downgraded by investment analysts at DA Davidson from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday. They presently have a $59.00 price objective on the stock, up from their previous price objective of $54.00. DA Davidson’s price target would suggest a potential upside of 14.61% from the company’s current price. The analysts noted that the move was a valuation call.
Several other analysts have also weighed in on the company. Citigroup Inc. lowered Gigamon to a “market perform” rating in a report on Wednesday. They noted that the move was a valuation call. Zacks Investment Research raised Gigamon from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Wednesday, September 28th. William Blair reaffirmed an “outperform” rating on shares of Gigamon in a research note on Wednesday, September 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price target on shares of Gigamon in a research note on Wednesday, September 7th. Finally, Stifel Nicolaus began coverage on Gigamon in a research note on Tuesday, August 30th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Gigamon currently has an average rating of “Hold” and a consensus target price of $53.00.
Shares of Gigamon (NYSE:GIMO) traded down 0.29% on Wednesday, hitting $51.48. The stock had a trading volume of 811,183 shares. Gigamon has a 52 week low of $19.86 and a 52 week high of $56.38. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 44.53 and a beta of 1.77. The firm has a 50 day moving average price of $49.29 and a 200-day moving average price of $38.78.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/08/gigamon-inc-gimo-lowered-to-neutral-at-da-davidson.html
Gigamon (NYSE:GIMO) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.06. Gigamon had a return on equity of 6.28% and a net margin of 16.46%. The company 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 earned $0.16 EPS. Gigamon’s revenue for the quarter was up 46.1% compared to the same quarter last year. Analysts anticipate that Gigamon will post $1.16 EPS for the current year.
In other Gigamon news, VP Helmut Wilke sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $45.24, for a total value of $180,960.00. Following the transaction, the vice president now owns 69,113 shares of the company’s stock, valued at $3,126,672.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ted C. Ho sold 60,000 shares of the business’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $54.66, for a total value of $3,279,600.00. Following the completion of the transaction, the director now directly owns 11,837 shares in the company, valued at approximately $647,010.42. The disclosure for this sale can be found here. 9.66% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors L.L.C. increased its stake in Gigamon by 5.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 11,600 shares of the company’s stock worth $360,000 after buying an additional 600 shares during the last quarter. Teachers Advisors Inc. increased its stake in Gigamon by 24.1% in the first quarter. Teachers Advisors Inc. now owns 356,138 shares of the company’s stock worth $11,047,000 after buying an additional 69,148 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Gigamon during the first quarter worth $356,000. Algert Global LLC purchased a new stake in Gigamon during the first quarter worth $328,000. Finally, BlackRock Group LTD increased its stake in Gigamon by 70.1% in the first quarter. BlackRock Group LTD now owns 27,799 shares of the company’s stock worth $862,000 after buying an additional 11,457 shares during the last quarter. 78.33% of the stock is currently owned by 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.
Receive News & Ratings for Gigamon Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gigamon Inc. and related companies with MarketBeat.com's FREE daily email newsletter.