Gigamon Inc. (NYSE:GIMO) 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, Bloomberg Earnings reports. Gigamon had a negative return on equity of 0.55% and a negative net margin of 0.32%. The business had revenue of $79.20 million for the quarter, compared to analyst estimates of $84.73 million. During the same period in the prior year, the company posted $0.36 EPS. The business’s revenue was down 5.1% compared to the same quarter last year.
Gigamon (NYSE GIMO) remained flat at $$38.65 during trading on Friday. The company had a trading volume of 326,200 shares, compared to its average volume of 1,520,211. Gigamon has a 52 week low of $28.50 and a 52 week high of $61.25.
Several research firms have recently issued reports on GIMO. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Gigamon in a research note on Tuesday, September 12th. DA Davidson increased their price target on Gigamon from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, July 28th. BidaskClub lowered Gigamon from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $48.00 price target on shares of Gigamon in a research report on Sunday, July 30th. Finally, Dougherty & Co upgraded Gigamon from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $45.09.
In other Gigamon news, Director Ted C. Ho sold 30,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $42.99, for a total value of $1,289,700.00. Following the completion of the transaction, the director now directly owns 16,919 shares of the company’s stock, valued at $727,347.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ted C. Ho sold 15,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $42.54, for a total value of $638,100.00. Following the transaction, the director now directly owns 16,919 shares of the company’s stock, valued at $719,734.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,706 shares of company stock valued at $3,313,939. 4.50% of the stock is currently owned by corporate insiders.
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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.
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