Gigamon Inc. (GIMO) Rating Lowered to Hold at Stifel Nicolaus

Stifel Nicolaus downgraded shares of Gigamon Inc. (NYSE:GIMO) from a buy rating to a hold rating in a research report report published on Friday, October 27th, Marketbeat reports. They currently have $38.50 target price on the technology company’s stock, down from their prior target price of $48.00.

A number of other analysts have also recently commented on GIMO. BidaskClub upgraded Gigamon from a sell rating to a hold rating in a research report on Wednesday, August 30th. ValuEngine upgraded Gigamon from a sell rating to a hold rating in a research report on Friday, September 1st. Needham & Company LLC restated a buy rating and issued a $50.00 price target on shares of Gigamon in a research report on Thursday, August 31st. JMP Securities cut Gigamon from an outperform rating to a market perform rating in a research report on Friday, October 6th. Finally, DA Davidson upped their price target on Gigamon from $40.00 to $41.00 and gave the stock a neutral rating in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $45.09.

Gigamon (NYSE GIMO) remained flat at $$38.65 during midday trading on Friday. 326,200 shares of the company traded hands, compared to its average volume of 1,148,001. Gigamon has a 52-week low of $28.50 and a 52-week high of $61.25.

Gigamon (NYSE:GIMO) last released its quarterly earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. Gigamon had a negative return on equity of 0.55% and a negative net margin of 0.32%. The company had revenue of $79.20 million for the quarter, compared to analyst estimates of $84.73 million. During the same period in the previous year, the company posted $0.36 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. equities analysts forecast that Gigamon will post -0.12 EPS for the current fiscal year.

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In other news, insider Paul B. Shinn sold 2,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was 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 directly owns 32,985 shares of the company’s stock, valued at approximately $1,307,195.55. The transaction 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 Wednesday, September 20th. The shares were sold at an average price of $42.99, for a total value of $1,289,700.00. Following the completion of the sale, the director now directly owns 16,919 shares of the company’s stock, valued at $727,347.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,706 shares of company stock valued at $3,313,939. 4.50% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GIMO. Ameritas Investment Partners Inc. purchased a new stake in shares of Gigamon in the first quarter worth approximately $100,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Gigamon in the second quarter worth approximately $100,000. Creative Planning increased its holdings in Gigamon by 16.3% during the 2nd quarter. Creative Planning now owns 4,070 shares of the technology company’s stock worth $160,000 after purchasing an additional 570 shares during the period. Pinebridge Investments L.P. purchased a new position in Gigamon during the 2nd quarter worth $162,000. Finally, LS Investment Advisors LLC purchased a new position in Gigamon during the 2nd quarter worth $172,000. Hedge funds and other institutional investors own 98.28% of the company’s stock.

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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