Ted C. Ho Sells 15,000 Shares of Gigamon Inc. (GIMO) Stock
Gigamon Inc. (NYSE:GIMO) Director Ted C. Ho sold 15,000 shares of Gigamon stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $38.68, for a total value of $580,200.00. Following the completion of the sale, the director now directly owns 16,919 shares of the company’s stock, valued at $654,426.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Gigamon Inc. (NYSE GIMO) opened at $38.50 on Wednesday. Gigamon Inc. has a fifty-two week low of $28.50 and a fifty-two week high of $61.25.
Gigamon (NYSE:GIMO) last released its earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.23. The firm had revenue of $79.20 million during the quarter, compared to analyst estimates of $84.73 million. Gigamon had a negative return on equity of 0.55% and a negative net margin of 0.32%. Gigamon’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share. equities research analysts expect that Gigamon Inc. will post -0.12 EPS for the current fiscal year.
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GIMO has been the subject of a number of research reports. ValuEngine raised Gigamon from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Gigamon in a research note on Thursday, August 31st. BidaskClub raised Gigamon from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Gigamon in a research note on Tuesday, September 12th. Finally, JMP Securities lowered Gigamon from an “outperform” rating to a “market perform” rating in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. Gigamon has an average rating of “Hold” and a consensus price target of $45.09.
A number of hedge funds and other institutional investors have recently made changes to their positions in GIMO. Cubist Systematic Strategies LLC purchased a new stake in Gigamon during the 2nd quarter worth about $100,000. Ameritas Investment Partners Inc. lifted its holdings in Gigamon by 13.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,172 shares of the technology company’s stock worth $125,000 after buying an additional 365 shares during the last quarter. Creative Planning lifted its holdings in Gigamon by 16.3% during the 2nd quarter. Creative Planning now owns 4,070 shares of the technology company’s stock worth $160,000 after buying an additional 570 shares during the last quarter. Pinebridge Investments L.P. purchased a new stake in Gigamon during the 2nd quarter worth about $162,000. Finally, LS Investment Advisors LLC purchased a new stake in Gigamon during the 2nd quarter worth about $172,000. 98.69% of the stock is owned by institutional investors.
Gigamon Company Profile
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.
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