Shares of Gigamon Inc. (NYSE:GIMO) have been given an average recommendation of “Hold” by the thirteen brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $39.14.
A number of brokerages have issued reports on GIMO. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Gigamon in a research note on Tuesday, September 12th. DA Davidson raised their target price on Gigamon from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $48.00 target price on shares of Gigamon in a research note on Sunday, July 30th. BidaskClub downgraded Gigamon from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 18th. Finally, Dougherty & Co raised Gigamon from a “neutral” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Monday, July 31st.
Shares of Gigamon (NYSE:GIMO) remained flat at $$38.60 on Friday. The company’s stock had a trading volume of 390,028 shares, compared to its average volume of 1,398,180. Gigamon has a one year low of $28.50 and a one year high of $61.25.
Gigamon (NYSE:GIMO) last issued its earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. 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 during the quarter, compared to the consensus estimate of $84.73 million. During the same period last year, the company earned $0.36 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. research analysts predict that Gigamon will post -0.12 EPS for the current year.
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In related news, Director Ted C. Ho sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $42.63, for a total transaction of $1,278,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ted C. Ho sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $42.54, for a total value of $638,100.00. Following the transaction, the director now owns 16,919 shares of the company’s stock, valued at $719,734.26. The disclosure for this sale can be found here. Insiders have sold a total of 90,000 shares of company stock valued at $3,786,900 over the last three months. Corporate insiders own 4.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GIMO. Cubist Systematic Strategies LLC purchased a new position in Gigamon during the 2nd quarter valued at about $100,000. Ameritas Investment Partners Inc. boosted its holdings in Gigamon by 13.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,172 shares of the technology company’s stock valued at $125,000 after acquiring an additional 365 shares during the period. Creative Planning boosted its holdings in 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 during the period. Pinebridge Investments L.P. purchased a new position in Gigamon during the 2nd quarter valued at about $162,000. Finally, LS Investment Advisors LLC purchased a new position in Gigamon during the 2nd quarter valued at about $172,000. Institutional investors own 98.69% 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.
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