Gigamon Inc. (NYSE:GIMO) was downgraded by stock analysts at Raymond James Financial Inc. from an “outperform” rating to a “market perform” rating in a report issued on Wednesday.

GIMO has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective (up previously from $40.00) on shares of Gigamon in a research report on Monday, July 18th. Zacks Investment Research downgraded Gigamon from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. William Blair reissued an “outperform” rating on shares of Gigamon in a report on Wednesday, September 14th. DA Davidson downgraded Gigamon from a “buy” rating to a “neutral” rating and set a $59.00 price target for the company. in a report on Wednesday. They noted that the move was a valuation call. Finally, Citigroup Inc. downgraded Gigamon to a “market perform” rating in a report on Wednesday. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $53.00.

Gigamon (NYSE:GIMO) opened at 55.13 on Wednesday. The stock has a 50 day moving average price of $48.74 and a 200 day moving average price of $38.44. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 47.69 and a beta of 1.77. Gigamon has a 52-week low of $19.57 and a 52-week high of $56.38.

Gigamon (NYSE:GIMO) last released its earnings results on Thursday, July 28th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. Gigamon had a return on equity of 6.28% and a net margin of 16.46%. The business had revenue of $75.10 million for the quarter, compared to analyst estimates of $70.10 million. During the same quarter last year, the firm posted $0.16 earnings per share. The business’s revenue was up 46.1% compared to the same quarter last year. Analysts expect that Gigamon will post $1.17 EPS for the current fiscal year.

In related news, CEO Paul Hooper sold 45,000 shares of Gigamon stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $44.92, for a total transaction of $2,021,400.00. Following the completion of the transaction, the chief executive officer now directly owns 157,313 shares in the company, valued at $7,066,499.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mike Burns sold 16,000 shares of Gigamon stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $40.00, for a total value of $640,000.00. Following the transaction, the chief financial officer now owns 93,847 shares of the company’s stock, valued at $3,753,880. The disclosure for this sale can be found here. Corporate insiders own 9.66% of the company’s stock.

Several hedge funds have recently bought and sold shares of GIMO. Advisor Group Inc. acquired a new stake in Gigamon during the second quarter worth approximately $112,000. Teacher Retirement System of Texas boosted its stake in Gigamon by 84.9% in the second quarter. Teacher Retirement System of Texas now owns 3,870 shares of the company’s stock worth $145,000 after buying an additional 1,777 shares during the period. Legal & General Group Plc boosted its stake in Gigamon by 3.9% in the second quarter. Legal & General Group Plc now owns 4,360 shares of the company’s stock worth $159,000 after buying an additional 164 shares during the period. Gerstein Fisher acquired a new stake in Gigamon during the second quarter worth approximately $206,000. Finally, Bank of Nova Scotia acquired a new stake in Gigamon during the second quarter worth approximately $225,000. Institutional investors and hedge funds own 78.33% of the company’s stock.

About Gigamon

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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