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.
WARNING: This story was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this story on another domain, it was stolen and reposted in violation of United States and international trademark and copyright laws. The original version of this story can be accessed at https://www.dispatchtribunal.com/2017/11/11/stifel-nicolaus-lowers-gigamon-inc-gimo-to-hold.html.
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.
Receive News & Ratings for Gigamon Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gigamon Inc. and related companies with MarketBeat.com's FREE daily email newsletter.