Gigamon Inc. (GIMO) Downgraded by Zacks Investment Research
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. “
Several other research analysts have also commented on the stock. Citigroup Inc. lowered shares of Gigamon to a market perform rating in a research note on Wednesday, October 5th. They noted that the move was a valuation call. Stifel Nicolaus initiated coverage on shares of Gigamon in a research note on Tuesday, August 30th. They set a hold rating on the stock. DA Davidson lowered shares of Gigamon from a buy rating to a neutral rating and increased their price target for the stock from $54.00 to $59.00 in a research note on Wednesday, October 5th. They noted that the move was a valuation call. William Blair restated an outperform rating on shares of Gigamon in a research note on Wednesday, September 14th. Finally, Rosenblatt Securities initiated coverage on shares of Gigamon in a research note on Monday, August 1st. They issued a buy rating and a $55.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $53.00.
Shares of Gigamon (NYSE:GIMO) opened at 49.97 on Friday. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 43.23 and a beta of 1.77. Gigamon has a 52 week low of $19.90 and a 52 week high of $56.38. The stock has a 50 day moving average of $49.67 and a 200-day moving average of $39.13.
Gigamon (NYSE:GIMO) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.30 EPS for the quarter, topping 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 company had revenue of $75.10 million for the quarter, compared to analyst estimates of $70.10 million. During the same quarter in the prior year, the business posted $0.16 EPS. Gigamon’s quarterly revenue was up 46.1% on a year-over-year basis. Equities research analysts expect that Gigamon will post $1.16 earnings per share for the current year.
In other news, Director Ted C. Ho sold 65,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $44.87, for a total transaction of $2,916,550.00. Following the completion of the transaction, the director now directly owns 11,837 shares of the company’s stock, valued at approximately $531,126.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paul Hooper sold 45,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 157,313 shares of the company’s stock, 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.
Several institutional investors have recently added to or reduced their stakes in GIMO. 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 worth $360,000 after buying an additional 600 shares during the last quarter. Teachers Advisors Inc. increased its position 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 position in Gigamon during the first quarter worth approximately $356,000. Algert Global LLC acquired a new position in Gigamon during the first quarter worth approximately $328,000. Finally, BlackRock Group LTD increased its position in Gigamon by 70.1% in the first quarter. BlackRock Group LTD now owns 27,799 shares of the company’s stock worth $862,000 after buying an additional 11,457 shares during the last quarter. 78.33% of the stock is owned by institutional investors.
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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