Bank of Montreal Can bought a new stake in Gigamon Inc. (NYSE:GIMO) during the second quarter, Holdings Channel reports. The institutional investor bought 362,979 shares of the company’s stock, valued at approximately $13,572,000.
Other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors L.L.C. increased its position in Gigamon by 5.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 11,600 shares of the company’s stock valued at $360,000 after buying an additional 600 shares during the period. Teachers Advisors Inc. increased its stake in Gigamon by 24.1% in the first quarter. Teachers Advisors Inc. now owns 356,138 shares of the company’s stock worth $11,047,000 after buying an additional 69,148 shares during the last quarter. Prudential Financial Inc. acquired a new stake in Gigamon during the first quarter worth about $356,000. Algert Global LLC acquired a new stake in Gigamon during the first quarter worth about $328,000. Finally, Woodstock Corp acquired a new stake in Gigamon during the first quarter worth about $313,000. 78.33% of the stock is currently owned by hedge funds and other institutional investors.
Gigamon Inc. (NYSE:GIMO) traded down 0.53% on Friday, reaching $54.80. 841,511 shares of the company’s stock were exchanged. The firm has a market cap of $1.93 billion, a PE ratio of 47.40 and a beta of 1.83. Gigamon Inc. has a one year low of $19.57 and a one year high of $56.38. The firm has a 50 day moving average price of $48.24 and a 200 day moving average price of $37.96.
Gigamon (NYSE:GIMO) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.06. Gigamon had a net margin of 16.46% and a return on equity of 6.28%. The firm had revenue of $75.10 million for the quarter, compared to analysts’ expectations of $70.10 million. During the same quarter last year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 46.1% compared to the same quarter last year. On average, equities analysts anticipate that Gigamon Inc. will post $1.17 earnings per share for the current year.
A number of research firms recently issued reports on GIMO. Zacks Investment Research raised shares of Gigamon from a “hold” rating to a “strong-buy” rating and set a $48.00 price target on the stock in a research note on Wednesday, July 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target (up previously from $40.00) on shares of Gigamon in a research note on Monday, July 18th. Northland Securities began coverage on shares of Gigamon in a research note on Wednesday, June 22nd. They set an “outperform” rating and a $50.00 price target on the stock. TheStreet raised shares of Gigamon from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Finally, Rosenblatt Securities began coverage on shares of Gigamon in a research note on Monday, August 1st. They set a “buy” rating and a $55.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Gigamon presently has a consensus rating of “Buy” and an average target price of $51.80.
In other Gigamon news, Director Ted C. Ho sold 65,000 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $44.87, for a total value of $2,916,550.00. Following the transaction, the director now owns 11,837 shares in the company, valued at approximately $531,126.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mike Burns sold 2,068 shares of the firm’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $54.24, for a total value of $112,168.32. Following the completion of the transaction, the chief financial officer now owns 78,705 shares in the company, valued at approximately $4,268,959.20. The disclosure for this sale can be found here. 9.66% of the stock is currently owned by corporate insiders.
Gigamon Inc offers solutions that deliver visibility and control of traffic across networks. The Company’s Visibility Fabric solution consists of a distributed system of nodes that enable a level of visibility, modification and control of network traffic. Its GigaSECURE Security Delivery Platform enables the delivery of network, data as a service, for multiple security tools.
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