$85.00 Million in Sales Expected for Gigamon Inc. (GIMO) This Quarter
Wall Street brokerages expect Gigamon Inc. (NYSE:GIMO) to post $85.00 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Gigamon’s earnings, with estimates ranging from $84.00 million to $86.50 million. Gigamon posted sales of $83.51 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.8%. The company is expected to report its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Gigamon will report full year sales of $85.00 million for the current year, with estimates ranging from $319.20 million to $326.20 million. For the next financial year, analysts expect that the firm will report sales of $379.23 million per share, with estimates ranging from $364.00 million to $390.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Gigamon.
Gigamon (NYSE:GIMO) last released its earnings results on Thursday, July 27th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.12). Gigamon had a net margin of 0.95% and a return on equity of 0.41%. The business had revenue of $69.10 million for the quarter, compared to analysts’ expectations of $71.36 million. During the same quarter in the previous year, the business posted $0.30 earnings per share. Gigamon’s revenue for the quarter was down 8.0% on a year-over-year basis.
A number of research firms have recently issued reports on GIMO. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Gigamon in a research note on Tuesday. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 price objective on shares of Gigamon in a research note on Tuesday. Dougherty & Co upgraded shares of Gigamon from a “neutral” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Monday, July 31st. DA Davidson increased their price objective on shares of Gigamon from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 28th. Finally, Bank of America Corporation reiterated a “neutral” rating and set a $43.00 price objective (up from $33.00) on shares of Gigamon in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $45.38.
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Gigamon (NYSE:GIMO) traded down 0.89% during trading on Wednesday, hitting $44.30. 140,799 shares of the stock traded hands. The firm has a 50-day moving average price of $40.69 and a 200 day moving average price of $37.93. The firm has a market cap of $1.66 billion, a PE ratio of 560.76 and a beta of 1.51. Gigamon has a 12 month low of $28.50 and a 12 month high of $61.25.
In other Gigamon news, Director Ted C. Ho sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $40.68, for a total value of $1,220,400.00. Following the completion of the transaction, the director now owns 16,919 shares of the company’s stock, valued at $688,264.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul B. Shinn sold 2,706 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $39.63, for a total transaction of $107,238.78. Following the completion of the transaction, the insider now directly owns 32,985 shares of the company’s stock, valued at approximately $1,307,195.55. The disclosure for this sale can be found here. Insiders have sold 107,706 shares of company stock valued at $4,252,339 in the last three months. 4.50% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. raised its holdings in shares of Gigamon by 0.3% in the second quarter. Alps Advisors Inc. now owns 13,980 shares of the technology company’s stock worth $550,000 after buying an additional 36 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Gigamon by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 11,310 shares of the technology company’s stock worth $432,000 after buying an additional 150 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Gigamon by 0.6% in the first quarter. Parametric Portfolio Associates LLC now owns 40,136 shares of the technology company’s stock worth $1,427,000 after buying an additional 236 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Gigamon by 13.0% in the second quarter. Ameritas Investment Partners Inc. now owns 3,172 shares of the technology company’s stock worth $125,000 after buying an additional 365 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of Gigamon by 16.3% in the second quarter. Creative Planning now owns 4,070 shares of the technology company’s stock worth $160,000 after buying an additional 570 shares during the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.
Gigamon Company Profile
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.
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