Gigamon Inc. (NYSE:GIMO) was downgraded by equities researchers at JMP Securities from an “outperform” rating to a “market perform” rating in a research note issued on Friday, The Fly reports.

Other equities analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Gigamon in a research report on Tuesday, September 12th. DA Davidson increased their price objective on shares of Gigamon from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 28th. BidaskClub lowered shares of Gigamon from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Gigamon in a research report on Sunday, July 30th. Finally, Dougherty & Co raised 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. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Gigamon has an average rating of “Hold” and an average price target of $45.95.

Gigamon (NYSE GIMO) traded down 6.89% on Friday, hitting $40.55. 1,651,745 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 has a market capitalization of $1.52 billion, a PE ratio of 513.29 and a beta of 1.50. The firm has a 50-day moving average price of $42.37 and a 200-day moving average price of $39.06.

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 Thomson Reuters’ consensus estimate of ($0.08) by ($0.12). The company had revenue of $69.10 million during the quarter, compared to analysts’ expectations of $71.36 million. Gigamon had a net margin of 0.95% and a return on equity of 0.41%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 earnings per share. Analysts forecast that Gigamon will post $0.79 earnings per share for the current year.

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In other news, Director Ted C. Ho sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $42.54, for a total transaction of $638,100.00. Following the sale, the director now owns 16,919 shares of the company’s stock, valued at approximately $719,734.26. 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 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $42.63, for a total transaction of $1,278,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 122,706 shares of company stock valued at $5,144,239 over the last three months. 4.50% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its stake in shares of Gigamon by 23.7% during the 1st quarter. Renaissance Technologies LLC now owns 996,600 shares of the technology company’s stock worth $30,915,000 after purchasing an additional 191,200 shares during the period. Bank of Montreal Can acquired a new stake in shares of Gigamon during the 2nd quarter worth approximately $13,572,000. State of Wisconsin Investment Board grew its stake in shares of Gigamon by 15.8% during the 3rd quarter. State of Wisconsin Investment Board now owns 220,000 shares of the technology company’s stock worth $12,056,000 after purchasing an additional 30,000 shares during the period. Alps Advisors Inc. grew its stake in shares of Gigamon by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 13,980 shares of the technology company’s stock worth $550,000 after purchasing an additional 36 shares during the period. Finally, Norges Bank acquired a new stake in shares of Gigamon during the 4th quarter worth approximately $11,609,000. 97.84% of the stock is currently owned by institutional investors and hedge funds.

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.

The Fly

Analyst Recommendations for Gigamon (NYSE:GIMO)

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