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.

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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.

About Gigamon

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.

Analyst Recommendations for Gigamon (NYSE:GIMO)

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