Gigamon Inc. (NYSE:GIMO) was downgraded by equities researchers at Dougherty & Co from a “buy” rating to a “neutral” rating in a research report issued on Friday, MarketBeat.com reports.

Several other research firms have also recently issued reports on GIMO. BidaskClub raised Gigamon from a “hold” rating to a “buy” rating in a report on Thursday, September 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Gigamon in a report on Tuesday, September 12th. ValuEngine raised Gigamon from a “sell” rating to a “hold” rating in a report on Friday, September 1st. JMP Securities cut Gigamon from an “outperform” rating to a “market perform” rating in a report on Friday, October 6th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $48.00 price target on shares of Gigamon in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $45.09.

Shares of Gigamon (NYSE:GIMO) traded up 7.05% during midday trading on Friday, reaching $38.70. The company’s stock had a trading volume of 11,860,144 shares. The stock’s 50 day moving average is $40.47 and its 200 day moving average is $39.32. The stock has a market capitalization of $1.45 billion, a PE ratio of 489.87 and a beta of 1.50. Gigamon has a 12 month low of $28.50 and a 12 month high of $61.25.

Gigamon (NYSE:GIMO) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The company had revenue of $79.20 million for the quarter, compared to analysts’ expectations of $84.73 million. Gigamon had a negative return on equity of 0.56% and a negative net margin of 0.32%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. On average, analysts forecast that Gigamon will post $0.79 EPS for the current fiscal year.

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In other news, Director Ted C. Ho sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $40.68, for a total transaction of $1,220,400.00. Following the transaction, the director now directly owns 16,919 shares in the company, valued at approximately $688,264.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ted C. Ho sold 15,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $40.66, for a total transaction of $609,900.00. Following the transaction, the director now owns 16,919 shares in the company, valued at $687,926.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,706 shares of company stock worth $5,144,239. Company insiders own 4.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of GIMO. Ameritas Investment Partners Inc. purchased a new position in shares of Gigamon during the 1st quarter valued at $100,000. Cubist Systematic Strategies LLC purchased a new position in shares of Gigamon during the 2nd quarter valued at $100,000. Creative Planning grew its holdings in shares of Gigamon by 16.3% during the 2nd quarter. Creative Planning now owns 4,070 shares of the technology company’s stock valued at $160,000 after acquiring an additional 570 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in shares of Gigamon during the 2nd quarter valued at $162,000. Finally, LS Investment Advisors LLC purchased a new position in shares of Gigamon during the 2nd quarter valued at $172,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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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