Gigamon Inc. (NYSE:GIMO)‘s stock had its “buy” rating reiterated by analysts at Stifel Nicolaus in a research report issued to clients and investors on Monday. They currently have a $48.00 target price on the technology company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 11.37% from the company’s previous close.

GIMO has been the topic of several other reports. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Gigamon in a research report on Thursday, August 31st. BidaskClub raised Gigamon from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. ValuEngine raised Gigamon from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Bank of America Corporation reissued a “neutral” rating and set a $43.00 price target (up from $33.00) on shares of Gigamon in a research report on Thursday, June 22nd. Finally, Zacks Investment Research lowered Gigamon from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Gigamon has a consensus rating of “Hold” and an average price target of $45.38.

Gigamon (NYSE GIMO) traded down 3.48% during midday trading on Monday, hitting $41.60. 302,883 shares of the stock traded hands. Gigamon has a 12-month low of $28.50 and a 12-month high of $61.25. The company’s 50-day moving average is $41.51 and its 200 day moving average is $38.37. The firm has a market cap of $1.56 billion, a P/E ratio of 526.58 and a beta of 1.51.

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

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In other news, Director Ted C. Ho sold 15,000 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $40.66, for a total transaction of $609,900.00. Following the transaction, the director now directly owns 16,919 shares of the company’s stock, valued at $687,926.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted C. Ho sold 60,000 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Insiders sold 137,706 shares of company stock worth $5,542,039 over the last ninety days. 4.50% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of GIMO. Elliott Management Corp acquired a new position in shares of Gigamon during the second quarter valued at $103,546,000. BlackRock Inc. increased its holdings in shares of Gigamon by 95.7% during the second quarter. BlackRock Inc. now owns 3,940,796 shares of the technology company’s stock valued at $155,072,000 after purchasing an additional 1,927,607 shares during the period. Credit Suisse AG increased its holdings in shares of Gigamon by 3,567.2% during the first quarter. Credit Suisse AG now owns 1,525,774 shares of the technology company’s stock valued at $54,241,000 after purchasing an additional 1,484,168 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Gigamon during the second quarter valued at $55,350,000. Finally, ETF Managers Group LLC acquired a new position in shares of Gigamon during the second quarter valued at $44,089,000. 97.84% of the stock is currently owned by 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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