Gigamon Inc. (GIMO) Stake Boosted by Senvest Management LLC
Senvest Management LLC grew its stake in shares of Gigamon Inc. (NYSE:GIMO) by 6.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 938,492 shares of the technology company’s stock after acquiring an additional 60,000 shares during the quarter. Gigamon comprises approximately 2.6% of Senvest Management LLC’s portfolio, making the stock its 10th biggest position. Senvest Management LLC owned approximately 2.51% of Gigamon worth $39,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Gigamon by 11.7% during the first quarter. Legal & General Group Plc now owns 12,723 shares of the technology company’s stock valued at $451,000 after buying an additional 1,328 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Gigamon by 5.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 129,996 shares of the technology company’s stock valued at $4,622,000 after buying an additional 6,657 shares during the last quarter. Creative Planning boosted its position in shares of Gigamon by 16.3% during the second quarter. Creative Planning now owns 4,070 shares of the technology company’s stock valued at $160,000 after buying an additional 570 shares during the last quarter. LS Investment Advisors LLC purchased a new stake in shares of Gigamon during the second quarter valued at $172,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Gigamon by 1.3% during the second quarter. Nisa Investment Advisors LLC now owns 11,310 shares of the technology company’s stock valued at $432,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.
In other Gigamon news, Director Ted C. Ho sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $42.99, for a total value of $1,289,700.00. Following the transaction, the director now directly owns 16,919 shares of the company’s stock, valued at $727,347.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Paul B. Shinn sold 2,072 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $38.55, for a total value of $79,875.60. Following the completion of the transaction, the senior vice president now directly owns 28,185 shares in the company, valued at $1,086,531.75. The disclosure for this sale can be found here. Insiders sold 92,072 shares of company stock worth $3,866,776 over the last three months. Insiders own 4.50% of the company’s stock.
Gigamon Inc. (NYSE GIMO) opened at $38.75 on Monday. Gigamon Inc. has a 12-month low of $28.50 and a 12-month high of $51.00.
Gigamon (NYSE:GIMO) last announced its earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $79.20 million for the quarter, compared to analysts’ expectations of $84.73 million. Gigamon had a negative return on equity of 0.55% and a negative net margin of 0.32%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share. sell-side analysts predict that Gigamon Inc. will post -0.12 EPS for the current fiscal year.
Several equities research analysts recently commented on GIMO shares. ValuEngine raised Gigamon from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Gigamon in a research report on Thursday, August 31st. BidaskClub raised Gigamon from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 price objective on shares of Gigamon in a research report on Tuesday, September 12th. Finally, JMP Securities cut Gigamon from an “outperform” rating to a “market perform” rating in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the stock. Gigamon has a consensus rating of “Hold” and an average price target of $45.09.
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.
Want to see what other hedge funds are holding GIMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gigamon Inc. (NYSE:GIMO).
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.