Equities research analysts at JMP Securities began coverage on shares of Gigamon Inc. (NYSE:GIMO) in a research note issued to investors on Thursday. The firm set a “market perform” rating on the stock.

GIMO has been the subject of a number of other reports. Stifel Nicolaus started coverage on shares of Gigamon in a research note on Tuesday, August 30th. They issued a “hold” rating for the company. William Blair reissued an “outperform” rating on shares of Gigamon in a research report on Wednesday, September 14th. Zacks Investment Research raised shares of Gigamon from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Wednesday, September 28th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Gigamon in a research report on Wednesday, September 7th. Finally, Rosenblatt Securities started coverage on shares of Gigamon in a research report on Monday, August 1st. They set 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 issued a buy rating to the company’s stock. Gigamon presently has a consensus rating of “Buy” and a consensus price target of $53.00.

Gigamon (NYSE:GIMO) opened at 51.81 on Thursday. The firm’s 50-day moving average price is $48.92 and its 200 day moving average price is $38.54. Gigamon has a 12-month low of $19.57 and a 12-month high of $56.38. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 44.82 and a beta of 1.77.

Gigamon (NYSE:GIMO) last announced its earnings results on Thursday, July 28th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.06. The firm earned $75.10 million during 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%. The company’s revenue for the quarter was up 46.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 EPS. On average, equities research analysts expect that Gigamon will post $1.17 EPS for the current fiscal year.

In related news, Director Ted C. Ho sold 65,000 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $44.87, for a total value of $2,916,550.00. Following the transaction, the director now owns 11,837 shares in the company, valued at approximately $531,126.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mike Burns sold 16,000 shares of the company’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $40.00, for a total transaction of $640,000.00. Following the completion of the transaction, the chief financial officer now owns 93,847 shares in the company, valued at approximately $3,753,880. The disclosure for this sale can be found here. 9.66% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its position in shares of Gigamon by 150.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,175 shares of the company’s stock worth $174,000 after buying an additional 1,907 shares during the period. Royal Bank of Canada raised its position in shares of Gigamon by 17.5% in the second quarter. Royal Bank of Canada now owns 28,959 shares of the company’s stock worth $1,083,000 after buying an additional 4,312 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Gigamon by 20.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 98,960 shares of the company’s stock worth $3,701,000 after buying an additional 16,850 shares during the period. Stifel Financial Corp bought a new position in shares of Gigamon during the second quarter worth approximately $316,000. Finally, Legal & General Group Plc raised its position in shares of 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 last quarter. Institutional investors and hedge funds own 78.33% of the company’s stock.

Gigamon Company Profile

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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