Gigamon Inc. (GIMO) Given Consensus Rating of “Hold” by Analysts
Gigamon Inc. (NYSE:GIMO) has earned a consensus recommendation of “Hold” from the sixteen analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $42.05.
Several research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Gigamon in a research report on Thursday, August 31st. BidaskClub upgraded shares of Gigamon from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Dougherty & Co upgraded shares of Gigamon from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Monday, July 31st. ValuEngine upgraded shares of Gigamon from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Vetr downgraded shares of Gigamon from a “strong-buy” rating to a “hold” rating and set a $42.50 price objective for the company. in a research report on Monday, May 8th.
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Gigamon (NYSE:GIMO) traded down 1.95% during midday trading on Tuesday, reaching $42.80. The company had a trading volume of 1,022,898 shares. The firm has a 50-day moving average of $40.04 and a 200-day moving average of $37.62. The stock has a market cap of $1.60 billion, a P/E ratio of 541.77 and a beta of 1.51. Gigamon has a 12 month low of $28.50 and a 12 month high of $61.25.
Gigamon (NYSE:GIMO) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by $0.12. Gigamon had a net margin of 0.95% and a return on equity of 0.41%. The firm had revenue of $69.10 million for the quarter, compared to analyst estimates of $71.36 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities analysts expect that Gigamon will post $0.79 EPS for the current fiscal year.
In related news, Director Ted C. Ho sold 60,000 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $41.58, for a total value of $2,494,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul B. Shinn sold 2,706 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $39.63, for a total value of $107,238.78. Following the completion of the sale, the insider now owns 32,985 shares of the company’s stock, valued at $1,307,195.55. The disclosure for this sale can be found here. Insiders have sold 167,706 shares of company stock valued at $6,747,139 over the last quarter. Company insiders own 4.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. increased its holdings in Gigamon by 0.3% in the second quarter. Alps Advisors Inc. now owns 13,980 shares of the technology company’s stock valued at $550,000 after purchasing an additional 36 shares during the period. Nisa Investment Advisors LLC increased its holdings in Gigamon by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 11,310 shares of the technology company’s stock valued at $432,000 after purchasing an additional 150 shares during the period. Parametric Portfolio Associates LLC increased its holdings in Gigamon by 0.6% in the first quarter. Parametric Portfolio Associates LLC now owns 40,136 shares of the technology company’s stock valued at $1,427,000 after purchasing an additional 236 shares during the period. Creative Planning increased its holdings in Gigamon by 8.7% in the first quarter. Creative Planning now owns 3,500 shares of the technology company’s stock valued at $124,000 after purchasing an additional 279 shares during the period. Finally, Ameritas Investment Partners Inc. increased its holdings in Gigamon by 13.0% in the second quarter. Ameritas Investment Partners Inc. now owns 3,172 shares of the technology company’s stock valued at $125,000 after purchasing an additional 365 shares during the period. Institutional investors and hedge funds own 97.97% of the company’s stock.
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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