Emerald Mutual Fund Advisers Trust cut its stake in shares of Gigamon Inc. (NYSE:GIMO) by 23.8% during the second quarter, Holdings Channel reports. The fund owned 468,601 shares of the company’s stock after selling 146,270 shares during the period. Gigamon accounts for approximately 1.0% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 27th largest position. Emerald Mutual Fund Advisers Trust’s holdings in Gigamon were worth $17,521,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in GIMO. Nisa Investment Advisors L.L.C. boosted 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 worth $360,000 after buying an additional 600 shares during the last quarter. Royal Bank of Canada raised its position in shares of Gigamon by 24.8% in the first quarter. Royal Bank of Canada now owns 24,647 shares of the company’s stock worth $765,000 after buying an additional 4,904 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of Gigamon by 3.0% in the first quarter. Panagora Asset Management Inc. now owns 230,889 shares of the company’s stock worth $7,162,000 after buying an additional 6,667 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of Gigamon during the first quarter worth $233,000. Finally, Woodstock Corp purchased a new position in shares of Gigamon during the first quarter worth $313,000. Institutional investors and hedge funds own 78.33% of the company’s stock.
Gigamon Inc. (NYSE:GIMO) traded up 0.24% during midday trading on Tuesday, reaching $55.08. The company had a trading volume of 479,406 shares. The company has a 50-day moving average of $48.50 and a 200-day moving average of $38.26. The stock has a market capitalization of $1.94 billion, a PE ratio of 47.65 and a beta of 1.76. Gigamon Inc. has a 12-month low of $19.57 and a 12-month high of $56.38.
Gigamon (NYSE:GIMO) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.06. The business had revenue of $75.10 million for the quarter, compared to analysts’ expectations of $70.10 million. Gigamon had a return on equity of 6.28% and a net margin of 16.46%. The business’s quarterly revenue was up 46.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. On average, analysts predict that Gigamon Inc. will post $1.17 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Gigamon from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Wednesday, September 28th. William Blair reaffirmed an “outperform” rating on shares of Gigamon in a research report on Wednesday, September 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price on shares of Gigamon in a research report on Wednesday, September 7th. Stifel Nicolaus assumed coverage on Gigamon in a research report on Tuesday, August 30th. They set a “hold” rating on the stock. Finally, Rosenblatt Securities assumed coverage on Gigamon in a research report on Monday, August 1st. They set a “buy” rating and a $55.00 target price on the stock. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Gigamon presently has an average rating of “Buy” and a consensus target price of $51.80.
In other news, Director Ted C. Ho sold 60,000 shares of Gigamon stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $46.05, for a total value of $2,763,000.00. Following the sale, the director now directly owns 11,837 shares in the company, valued at approximately $545,093.85. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mike Burns sold 16,000 shares of Gigamon stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $40.00, for a total value of $640,000.00. Following the completion of the sale, the chief financial officer now owns 93,847 shares in the company, valued at $3,753,880. The disclosure for this sale can be found here. 9.66% of the stock is owned by company insiders.
Gigamon Company Profile
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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