Gigamon Inc. (GIMO) Director Ted C. Ho Sells 60,000 Shares of Stock
Gigamon Inc. (NYSE:GIMO) Director Ted C. Ho sold 60,000 shares of the firm’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $54.66, for a total transaction of $3,279,600.00. Following the sale, the director now owns 11,837 shares in the company, valued at $647,010.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Gigamon Inc. (NYSE:GIMO) opened at 51.81 on Thursday. The stock has a 50 day moving average of $48.92 and a 200-day moving average of $38.54. The company has a market cap of $1.83 billion, a P/E ratio of 44.82 and a beta of 1.77. Gigamon Inc. has a 12 month low of $19.57 and a 12 month high of $56.38.
Gigamon (NYSE:GIMO) last issued its earnings results on Thursday, July 28th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.06. The business had revenue of $75.10 million for the quarter, compared to analyst estimates of $70.10 million. Gigamon had a net margin of 16.46% and a return on equity of 6.28%. Gigamon’s revenue was up 46.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share. Equities research analysts expect that Gigamon Inc. will post $1.17 EPS for the current year.
Several equities research analysts have issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Gigamon in a research note on Tuesday, August 30th. They issued a “hold” rating on the stock. William Blair reiterated an “outperform” rating on shares of Gigamon in a research note on Wednesday, September 14th. Zacks Investment Research upgraded shares of Gigamon from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Wednesday, September 28th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Gigamon in a research note on Wednesday, September 7th. Finally, Rosenblatt Securities assumed coverage on shares of Gigamon in a research note on Monday, August 1st. They issued a “buy” rating and a $55.00 price target on the stock. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Gigamon has a consensus rating of “Buy” and a consensus price target of $53.00.
Hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors L.L.C. raised its position in shares of Gigamon by 5.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 11,600 shares of the company’s stock valued at $360,000 after buying an additional 600 shares in the last quarter. Teachers Advisors Inc. raised its position in shares of Gigamon by 24.1% in the first quarter. Teachers Advisors Inc. now owns 356,138 shares of the company’s stock valued at $11,047,000 after buying an additional 69,148 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Gigamon during the first quarter valued at about $356,000. Algert Global LLC bought a new position in shares of Gigamon during the first quarter valued at about $328,000. Finally, Woodstock Corp bought a new position in shares of Gigamon during the first quarter valued at about $313,000. 78.33% of the stock is currently owned by institutional investors and hedge funds.
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.
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