Gigamon Inc. (NYSE:GIMO) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Several other brokerages have also weighed in on GIMO. Zacks Investment Research lowered shares of Gigamon from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Bank of America Corporation reaffirmed a “neutral” rating and set a $43.00 target price (up previously from $33.00) on shares of Gigamon in a research note on Thursday, June 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Gigamon in a research note on Thursday, August 31st. ValuEngine raised shares of Gigamon from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Dougherty & Co raised shares of Gigamon from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $45.38.

Shares of Gigamon (NYSE:GIMO) traded down 0.56% during trading on Thursday, hitting $44.45. 681,517 shares of the company’s stock were exchanged. The company has a 50-day moving average of $41.15 and a 200-day moving average of $38.09. Gigamon has a 12-month low of $28.50 and a 12-month high of $61.25. The company has a market cap of $1.66 billion, a P/E ratio of 562.66 and a beta of 1.51.

Gigamon (NYSE:GIMO) last announced its earnings results on Thursday, July 27th. The technology company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.12). The company had revenue of $69.10 million for the quarter, compared to analysts’ expectations of $71.36 million. Gigamon had a return on equity of 0.41% and a net margin of 0.95%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business earned $0.30 EPS. On average, equities analysts expect that Gigamon will post $0.79 earnings per share for the current fiscal year.

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In related news, Director Ted C. Ho sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $38.58, for a total value of $2,314,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul B. Shinn sold 2,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $39.63, for a total transaction of $107,238.78. Following the completion of the sale, the insider now directly owns 32,985 shares in the company, valued at approximately $1,307,195.55. The disclosure for this sale can be found here. In the last three months, insiders sold 107,706 shares of company stock valued at $4,252,339. Insiders own 4.50% of the company’s stock.

A number of large investors have recently modified their holdings of GIMO. US Bancorp DE raised its holdings in Gigamon by 258.4% in the first quarter. US Bancorp DE now owns 11,083 shares of the technology company’s stock valued at $393,000 after acquiring an additional 7,991 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Gigamon by 154.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,693 shares of the technology company’s stock valued at $131,000 after acquiring an additional 2,239 shares in the last quarter. Pictet Asset Management Ltd. acquired a new stake in Gigamon in the first quarter valued at approximately $4,842,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Gigamon by 2,331.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,324 shares of the technology company’s stock valued at $971,000 after acquiring an additional 26,200 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Gigamon by 3.7% in the first quarter. Swiss National Bank now owns 47,600 shares of the technology company’s stock valued at $1,692,000 after acquiring an additional 1,700 shares in the last quarter. 97.97% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Gigamon (NYSE:GIMO)

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