Shares of Gigamon Inc. (NYSE:GIMO) have been given an average rating of “Hold” by the seventeen brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $40.72.

Several analysts have issued reports on GIMO shares. Zacks Investment Research lowered Gigamon from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Bank of America Corporation reissued a “neutral” rating and set a $43.00 price target (up previously from $33.00) on shares of Gigamon in a report on Thursday, June 22nd. Needham & Company LLC boosted their price target on Gigamon from $34.00 to $50.00 and gave the company a “buy” rating in a report on Monday, June 5th. William Blair lowered Gigamon from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. Finally, Rosenblatt Securities reissued a “hold” rating and set a $40.00 price target on shares of Gigamon in a report on Sunday, April 30th.

In related news, insider Paul B. Shinn sold 3,185 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $38.90, for a total value of $123,896.50. Following the transaction, the insider now owns 35,974 shares of the company’s stock, valued at $1,399,388.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Helmut Wilke sold 15,000 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $34.66, for a total value of $519,900.00. Following the completion of the transaction, the vice president now directly owns 52,441 shares in the company, valued at approximately $1,817,605.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 208,964 shares of company stock worth $7,732,298. Company insiders own 4.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Credit Suisse AG boosted its stake in shares of Gigamon by 3,567.2% in the first quarter. Credit Suisse AG now owns 1,525,774 shares of the technology company’s stock valued at $54,241,000 after buying an additional 1,484,168 shares during the period. Penserra Capital Management LLC bought a new stake in shares of Gigamon during the first quarter valued at about $38,045,000. Champlain Investment Partners LLC bought a new stake in shares of Gigamon during the first quarter valued at about $34,143,000. American Capital Management Inc. boosted its stake in shares of Gigamon by 116.3% in the first quarter. American Capital Management Inc. now owns 836,605 shares of the technology company’s stock valued at $29,741,000 after buying an additional 449,755 shares during the period. Finally, State Street Corp boosted its stake in shares of Gigamon by 5.4% in the fourth quarter. State Street Corp now owns 644,275 shares of the technology company’s stock valued at $29,348,000 after buying an additional 33,040 shares during the period. 84.23% of the stock is currently owned by institutional investors and hedge funds.

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Gigamon (NYSE GIMO) traded up 0.26% on Monday, hitting $38.40. The stock had a trading volume of 735,605 shares. The firm has a 50-day moving average of $39.65 and a 200 day moving average of $37.71. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 32.71 and a beta of 1.53. Gigamon has a 52 week low of $28.50 and a 52 week high of $61.25.

Gigamon (NYSE:GIMO) last issued its quarterly earnings data on Thursday, April 27th. The technology company reported ($0.06) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Gigamon had a return on equity of 3.45% and a net margin of 14.12%. The company had revenue of $69.60 million during the quarter, compared to analyst estimates of $68.77 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. Gigamon’s revenue was up 3.6% compared to the same quarter last year. On average, analysts predict that Gigamon will post $0.69 earnings per share for the current year.

About Gigamon

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.

Analyst Recommendations for Gigamon (NYSE:GIMO)

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