Zacks Investment Research lowered shares of Gigamon Inc. (NYSE:GIMO) from a hold rating to a sell rating in a research report released on Friday morning.

According to Zacks, “Gigamon Inc. is engaged in providing intelligent Traffic Visibility solutions for enterprises, data centers and service providers. Its products consist of GigaVUE, GigaSECURE, GigaSMART and GigaTAP products. The Company’s fabric enables information technology organizations to forward traffic from network infrastructure to management, analysis, and compliance and security tools. It has operations primarily in the United States, the rest of North America, Europe, the Middle East, Africa, and the Asia Pacific. Gigamon Inc. is headquartered in Milpitas, California. “

Other equities research analysts have also issued research reports about the company. TheStreet upgraded Gigamon from a hold rating to a buy rating in a research report on Thursday, July 28th. Raymond James Financial Inc. lowered Gigamon from an outperform rating to a market perform rating in a research report on Wednesday, October 5th. Citigroup Inc. lowered Gigamon to a market perform rating in a research report on Wednesday, October 5th. They noted that the move was a valuation call. Needham & Company LLC reiterated a buy rating and issued a $50.00 target price (up previously from $40.00) on shares of Gigamon in a research report on Monday, July 18th. Finally, JMP Securities began coverage on Gigamon in a research report on Thursday. They issued a market perform rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $53.00.

Analyst Recommendations for Gigamon (NYSE:GIMO)

Gigamon (NYSE:GIMO) traded up 1.59% during midday trading on Friday, hitting $52.30. 171,605 shares of the stock traded hands. The company’s 50 day moving average price is $49.29 and its 200 day moving average price is $38.78. The firm has a market cap of $1.84 billion, a PE ratio of 45.24 and a beta of 1.76. Gigamon has a 12 month low of $19.86 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.06. The firm had revenue of $75.10 million for the quarter, compared to analyst estimates of $70.10 million. Gigamon had a return on equity of 6.28% and a net margin of 16.46%. Gigamon’s revenue for the quarter was up 46.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 earnings per share. Equities research analysts predict that Gigamon will post $1.16 earnings per share for the current fiscal year.

In related news, insider Shehzad Merchant sold 72,763 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $44.62, for a total value of $3,246,685.06. Following the completion of the transaction, the insider now directly owns 125,523 shares of the company’s stock, valued at approximately $5,600,836.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Helmut Wilke sold 4,000 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $45.24, for a total value of $180,960.00. Following the completion of the transaction, the vice president now directly owns 69,113 shares of the company’s stock, valued at $3,126,672.12. The disclosure for this sale can be found here. 9.66% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of GIMO. BNP Paribas Arbitrage SA increased its position in Gigamon by 150.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,175 shares of the company’s stock valued at $174,000 after buying an additional 1,907 shares in the last quarter. Royal Bank of Canada increased its position in Gigamon by 17.5% in the second quarter. Royal Bank of Canada now owns 28,959 shares of the company’s stock valued at $1,083,000 after buying an additional 4,312 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Gigamon by 20.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 98,960 shares of the company’s stock valued at $3,701,000 after buying an additional 16,850 shares in the last quarter. Stifel Financial Corp bought a new stake in shares of Gigamon during the second quarter worth about $316,000. Finally, Legal & General Group Plc increased its stake 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 period. 78.33% of the stock is owned by hedge funds and other institutional investors.

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

Receive News & Stock 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 stocks with our FREE daily email newsletter.