Gigamon Inc. (GIMO) Upgraded to Hold by BidaskClub
BidaskClub upgraded shares of Gigamon Inc. (NYSE:GIMO) from a sell rating to a hold rating in a research note released on Wednesday.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Gigamon from a buy rating to a hold rating in a report on Friday, May 5th. Vetr downgraded shares of Gigamon from a strong-buy rating to a hold rating and set a $42.50 price target for the company. in a research report on Monday, May 8th. DA Davidson downgraded shares of Gigamon from a buy rating to a neutral rating and upped their price target for the company from $36.00 to $40.00 in a research report on Tuesday, May 9th. Stifel Nicolaus upped their price objective on shares of Gigamon from $39.00 to $45.00 and gave the company a buy rating in a research note on Tuesday, May 9th. Finally, ValuEngine upgraded shares of Gigamon from a sell rating to a hold rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $45.38.
Shares of Gigamon (NYSE GIMO) opened at 42.65 on Wednesday. The firm has a market cap of $1.60 billion, a PE ratio of 539.87 and a beta of 1.53. The firm’s 50-day moving average price is $39.57 and its 200-day moving average price is $37.27. Gigamon has a 12 month low of $28.50 and a 12 month high of $61.25.
Gigamon (NYSE:GIMO) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.12. Gigamon had a net margin of 0.95% and a return on equity of 0.41%. The business had revenue of $69.10 million for the quarter, compared to the consensus estimate of $71.36 million. During the same period in the prior year, the company earned $0.30 EPS. Gigamon’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts expect that Gigamon will post $0.79 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: This report was first reported by Daily Political and is owned by of Daily Political. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this report can be read at https://www.dailypolitical.com/2017/08/31/gigamon-inc-gimo-upgraded-to-hold-by-bidaskclub.html.
In related news, Director Ted C. Ho sold 60,000 shares of the company’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $38.58, for a total value of $2,314,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul B. Shinn sold 2,706 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $39.63, for a total transaction of $107,238.78. Following the completion of the transaction, the insider now owns 32,985 shares in the company, valued at $1,307,195.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 167,706 shares of company stock worth $6,747,139. 4.50% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Gigamon by 95.7% in the second quarter. BlackRock Inc. now owns 3,940,796 shares of the technology company’s stock valued at $155,072,000 after buying an additional 1,927,607 shares during the period. Vanguard Group Inc. increased its position in Gigamon by 15.5% in the second quarter. Vanguard Group Inc. now owns 2,949,083 shares of the technology company’s stock valued at $116,046,000 after buying an additional 394,726 shares during the period. Elliott Management Corp acquired a new position in Gigamon during the second quarter valued at approximately $103,546,000. Credit Suisse AG increased its position in Gigamon by 3,567.2% in the first quarter. Credit Suisse AG now owns 1,525,774 shares of the technology company’s stock valued at $54,241,000 after buying an additional 1,484,168 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in Gigamon during the second quarter valued at approximately $55,350,000. Institutional investors and hedge funds own 97.97% of the company’s stock.
Gigamon Inc offers a solution that delivers visibility and control of data-in-motion traversing enterprise, federal and service provider networks. The Company’s Visibility Platform consists of a distributed system of nodes (that in combination establish a Visibility Fabric). The Visibility Platform includes physical appliances and virtual nodes that can be deployed in data centers, central offices, virtualized/private cloud/public cloud environments, and small form-factor remote site appliances, which in combination enable pervasive visibility of network infrastructures.
Receive News & Ratings for Gigamon Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gigamon Inc. and related companies with MarketBeat.com's FREE daily email newsletter.