Gigamon Inc. (NYSE:GIMO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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. “

Several other brokerages have also recently issued reports on GIMO. Stifel Nicolaus restated a “buy” rating and issued a $45.00 price target on shares of Gigamon in a research report on Monday, June 5th. DA Davidson cut shares of Gigamon from a “buy” rating to a “neutral” rating and upped their price target for the company from $36.00 to $40.00 in a research report on Tuesday, May 9th. Vetr cut shares of Gigamon from a “strong-buy” rating to a “hold” rating and set a $42.50 price target for the company. in a research report on Monday, May 8th. ValuEngine upgraded shares of Gigamon from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Needham & Company LLC increased their price objective on shares of Gigamon from $34.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $47.42.

Analyst Recommendations for Gigamon (NYSE:GIMO)

Gigamon (GIMO) traded up 0.37% during mid-day trading on Wednesday, reaching $40.50. 510,409 shares of the company’s stock were exchanged. Gigamon has a 12 month low of $28.50 and a 12 month high of $61.25. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 34.50 and a beta of 1.53. The stock has a 50-day moving average of $38.23 and a 200-day moving average of $38.54.

Gigamon (NYSE:GIMO) last announced its quarterly earnings results on Thursday, April 27th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $68.77 million. During the same period in the prior year, the company posted $0.22 EPS. The company’s revenue was up 3.6% on a year-over-year basis. Analysts anticipate that Gigamon will post $0.69 earnings per share for the current year.

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In other Gigamon news, VP Sachi Sambandan sold 10,779 shares of the firm’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $40.31, for a total value of $434,501.49. Following the completion of the sale, the vice president now directly owns 79,160 shares in the company, valued at $3,190,939.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ted C. Ho sold 60,000 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $30.74, for a total transaction of $1,844,400.00. The disclosure for this sale can be found here. Insiders sold 208,964 shares of company stock valued at $7,485,698 over the last 90 days. Corporate insiders own 4.50% of the company’s stock.

Large investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new stake in Gigamon during the first quarter worth approximately $100,000. Creative Planning boosted its stake 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 during the last quarter. Advantage Investment Management LLC bought a new stake in Gigamon during the fourth quarter worth approximately $126,000. BNP Paribas Arbitrage SA boosted its stake in Gigamon by 154.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,693 shares of the technology company’s stock worth $131,000 after buying an additional 2,239 shares during the last quarter. Finally, FNY Managed Accounts LLC bought a new stake in Gigamon during the first quarter worth approximately $213,000. Institutional investors and hedge funds own 85.34% 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.

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