Gigamon Inc. (NYSE:GIMO) has been given a consensus rating of “Buy” by the thirteen ratings firms that are covering the firm. Six analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $56.71.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Gigamon from a “hold” rating to a “sell” rating in a research report on Friday, October 7th. Bank of America Corp. raised shares of Gigamon from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $48.00 to $61.00 in a report on Thursday, October 13th. William Blair reaffirmed an “outperform” rating on shares of Gigamon in a report on Wednesday, September 14th. Needham & Company LLC raised their price objective on shares of Gigamon from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, October 24th. Finally, JMP Securities started coverage on shares of Gigamon in a report on Thursday, October 6th. They issued a “market perform” rating for the company.

In other news, CFO Mike Burns sold 1,000 shares of the firm’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $52.10, for a total transaction of $52,100.00. Following the sale, the chief financial officer now owns 77,637 shares in the company, valued at approximately $4,044,887.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ted C. Ho sold 60,000 shares of the firm’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $46.05, for a total transaction of $2,763,000.00. Following the sale, the director now owns 11,837 shares in the company, valued at approximately $545,093.85. The disclosure for this sale can be found here. Insiders own 9.66% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. boosted its stake in Gigamon by 150.0% in the third quarter. Thompson Davis & CO. Inc. now owns 1,875 shares of the company’s stock valued at $103,000 after buying an additional 1,125 shares during the period. BlackRock Japan Co. Ltd boosted its stake in Gigamon by 15.1% in the third quarter. BlackRock Japan Co. Ltd now owns 2,003 shares of the company’s stock valued at $110,000 after buying an additional 263 shares during the period. US Bancorp DE boosted its stake in Gigamon by 15.4% in the third quarter. US Bancorp DE now owns 2,619 shares of the company’s stock valued at $144,000 after buying an additional 349 shares during the period. Creative Planning boosted its stake 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. Finally, Advisor Group Inc. bought a new stake in Gigamon during the second quarter valued at $112,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.

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Shares of Gigamon (NYSE:GIMO) traded down 7.52% on Wednesday, reaching $54.75. 1,033,320 shares of the company’s stock traded hands. Gigamon has a one year low of $21.23 and a one year high of $61.25. The firm has a market cap of $1.98 billion, a P/E ratio of 44.84 and a beta of 1.75. The company’s 50-day moving average price is $54.39 and its 200 day moving average price is $44.93.

Gigamon (NYSE:GIMO) last released its earnings results on Thursday, October 27th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.05. Gigamon had a net margin of 15.56% and a return on equity of 7.15%. The firm earned $83.50 million during the quarter, compared to the consensus estimate of $79.56 million. During the same period in the prior year, the firm earned $0.22 EPS. The company’s revenue was up 47.4% compared to the same quarter last year. On average, equities analysts forecast that Gigamon will post $1.26 EPS for the current fiscal year.

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.

5 Day Chart for NYSE:GIMO

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