Gigamon Inc. (NYSE:GIMO) was downgraded by DA Davidson from a “buy” rating to a “neutral” rating in a report issued on Wednesday. They presently have a $59.00 target price on the stock. DA Davidson’s target price points to a potential upside of 7.02% from the company’s current price. The analysts noted that the move was a valuation call.
Several other equities analysts have also issued reports on the stock. Stifel Nicolaus initiated coverage on shares of Gigamon in a report on Tuesday, August 30th. They issued a “hold” rating on the stock. William Blair restated an “outperform” rating on shares of Gigamon in a report on Wednesday, September 14th. Rosenblatt Securities initiated coverage on shares of Gigamon in a report on Monday, August 1st. They issued a “buy” rating and a $55.00 target price on the stock. Zacks Investment Research upgraded shares of Gigamon from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Wednesday, September 28th. Finally, Needham & Company LLC boosted their target price on shares of Gigamon from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, July 29th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Gigamon presently has a consensus rating of “Buy” and an average price target of $53.00.
Gigamon (NYSE:GIMO) opened at 55.13 on Wednesday. The firm has a market capitalization of $1.94 billion, a P/E ratio of 47.69 and a beta of 1.77. The stock’s 50 day moving average is $48.74 and its 200-day moving average is $38.44. Gigamon has a 1-year low of $19.57 and a 1-year high of $56.38.
Gigamon (NYSE:GIMO) last released its earnings results on Thursday, July 28th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.06. The business had revenue of $75.10 million for the quarter, compared to analyst estimates of $70.10 million. Gigamon had a net margin of 16.46% and a return on equity of 6.28%. Gigamon’s revenue for the quarter was up 46.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. Analysts forecast that Gigamon will post $1.17 EPS for the current year.
In other news, CFO Mike Burns sold 16,000 shares of the business’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $40.00, for a total transaction of $640,000.00. Following the completion of the sale, the chief financial officer now directly owns 93,847 shares of the company’s stock, valued at $3,753,880. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ted C. Ho sold 60,000 shares of the business’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $54.66, for a total transaction of $3,279,600.00. Following the sale, the director now directly owns 11,837 shares of the company’s stock, valued at $647,010.42. The disclosure for this sale can be found here. Insiders own 9.66% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Advisor Group Inc. acquired a new stake in Gigamon during the second quarter valued at approximately $112,000. Teacher Retirement System of Texas increased its stake in Gigamon by 84.9% in the second quarter. Teacher Retirement System of Texas now owns 3,870 shares of the company’s stock valued at $145,000 after buying an additional 1,777 shares during the last quarter. Legal & General Group Plc increased its stake in Gigamon by 3.9% in the second quarter. Legal & General Group Plc now owns 4,360 shares of the company’s stock valued at $159,000 after buying an additional 164 shares during the last quarter. Gerstein Fisher acquired a new stake in Gigamon during the second quarter valued at approximately $206,000. Finally, Bank of Nova Scotia acquired a new stake in Gigamon during the second quarter valued at approximately $225,000. 78.33% of the stock is owned by institutional investors.
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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