JMP Securities upgraded shares of Gigamon Inc (NYSE:GIMO) from a market perform rating to an outperform rating in a research note issued to investors on Friday morning. The brokerage currently has $45.00 target price on the stock.
Several other equities research analysts also recently weighed in on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $48.00 price target (down from $58.00) on shares of Gigamon in a research note on Wednesday, January 18th. Zacks Investment Research downgraded shares of Gigamon from a buy rating to a hold rating in a research report on Wednesday, December 28th. Bank of America Corp downgraded shares of Gigamon from a buy rating to a neutral rating in a research report on Friday, February 3rd. DA Davidson raised shares of Gigamon from a neutral rating to a buy rating and set a $60.00 target price for the company in a research report on Friday, December 9th. They noted that the move was a valuation call. Finally, Rosenblatt Securities reissued a buy rating and set a $70.00 target price on shares of Gigamon in a research report on Wednesday, November 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. Gigamon currently has an average rating of Buy and a consensus target price of $52.67.
Shares of Gigamon (NYSE:GIMO) traded down 1.025% during trading on Friday, reaching $36.225. 597,584 shares of the company were exchanged. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 27.653 and a beta of 1.56. Gigamon has a 52-week low of $28.16 and a 52-week high of $61.25. The stock’s 50-day moving average is $33.68 and its 200-day moving average is $45.55.
Gigamon (NYSE:GIMO) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Gigamon had a net margin of 15.90% and a return on equity of 6.57%. The firm earned $85.03 million during the quarter, compared to the consensus estimate of $91.60 million. During the same period in the previous year, the firm posted $0.29 earnings per share. The business’s revenue was up 26.9% compared to the same quarter last year. Equities research analysts predict that Gigamon will post $1.02 earnings per share for the current fiscal year.
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In related news, Director Ted C. Ho sold 60,000 shares of the business’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $32.87, for a total transaction of $1,972,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ted C. Ho sold 30,000 shares of the business’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $31.44, for a total transaction of $943,200.00. Following the transaction, the director now owns 11,837 shares in the company, valued at $372,155.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,000 shares of company stock valued at $7,458,000. 9.66% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in Gigamon by 17.5% in the second quarter. Royal Bank of Canada now owns 28,959 shares of the company’s stock valued at $1,083,000 after buying an additional 4,312 shares during the period. Creative Planning boosted its position in Gigamon by 300.3% in the third quarter. Creative Planning now owns 2,802 shares of the company’s stock valued at $154,000 after buying an additional 2,102 shares during the period. Eagle Asset Management Inc. boosted its position in Gigamon by 16.4% in the third quarter. Eagle Asset Management Inc. now owns 258,927 shares of the company’s stock valued at $14,189,000 after buying an additional 36,410 shares during the period. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in Gigamon during the third quarter valued at $789,000. Finally, Moody Aldrich Partners LLC boosted its position in Gigamon by 11.3% in the third quarter. Moody Aldrich Partners LLC now owns 18,700 shares of the company’s stock valued at $1,025,000 after buying an additional 1,900 shares during the period. Institutional investors and hedge funds own 83.97% 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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