According to Zacks, “Gigamon Inc. is engaged in providing intelligent Traffic Visibility solutions for enterprises, data centers and service providers. Its products consist of GigaVUE, GigaSECURE, GigaSMART and GigaTAP products. The Company’s fabric enables information technology organizations to forward traffic from network infrastructure to management, analysis, and compliance and security tools. It has operations primarily in the United States, the rest of North America, Europe, the Middle East, Africa, and the Asia Pacific. Gigamon Inc. is headquartered in Milpitas, California. “
GIMO has been the topic of several other reports. Rosenblatt Securities assumed coverage on shares of Gigamon in a report on Monday, August 1st. They issued a buy rating and a $55.00 price objective on the stock. TheStreet upgraded shares of Gigamon from a hold rating to a buy rating in a report on Thursday, July 28th. Needham & Company LLC increased their price objective on shares of Gigamon from $50.00 to $52.00 and gave the company a buy rating in a report on Friday, July 29th. Stifel Nicolaus assumed coverage on shares of Gigamon in a report on Tuesday, August 30th. They issued a hold rating on the stock. Finally, William Blair restated an outperform rating on shares of Gigamon in a report on Wednesday, September 14th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $51.80.
Gigamon (NYSE:GIMO) opened at 54.95 on Wednesday. The stock has a market capitalization of $1.94 billion, a PE ratio of 47.53 and a beta of 1.76. Gigamon has a 12-month low of $19.57 and a 12-month high of $56.38. The stock’s 50 day moving average is $48.50 and its 200 day moving average is $38.26.
Gigamon (NYSE:GIMO) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.06. Gigamon had a net margin of 16.46% and a return on equity of 6.28%. The business had revenue of $75.10 million for the quarter, compared to analysts’ expectations of $70.10 million. During the same period in the prior year, the firm earned $0.16 earnings per share. Gigamon’s revenue was up 46.1% compared to the same quarter last year. Analysts forecast that Gigamon will post $1.17 EPS for the current year.
In related news, 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 transaction of $112,168.32. Following the sale, the chief financial officer now directly owns 78,705 shares in the company, valued at $4,268,959.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Paul Hooper sold 45,000 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $44.92, for a total transaction of $2,021,400.00. Following the sale, the chief executive officer now owns 157,313 shares in the company, valued at $7,066,499.96. The disclosure for this sale can be found here. 9.66% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Advisor Group Inc. bought a new stake in shares of Gigamon during the second quarter worth approximately $112,000. Teacher Retirement System of Texas raised its stake in shares of Gigamon by 84.9% in the second quarter. Teacher Retirement System of Texas now owns 3,870 shares of the company’s stock worth $145,000 after buying an additional 1,777 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Gigamon by 3.9% in the second quarter. Legal & General Group Plc now owns 4,360 shares of the company’s stock worth $159,000 after buying an additional 164 shares during the last quarter. Gerstein Fisher bought a new stake in shares of Gigamon during the second quarter worth approximately $206,000. Finally, Bank of Nova Scotia bought a new stake in shares of Gigamon during the second quarter worth approximately $225,000. Institutional investors and hedge funds own 78.33% of the company’s stock.
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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