Stifel Nicolaus Reaffirms Buy Rating for Gigamon Inc. (GIMO)
Stifel Nicolaus reaffirmed their buy rating on shares of Gigamon Inc. (NYSE:GIMO) in a report published on Monday. Stifel Nicolaus currently has a $48.00 price target on the technology company’s stock.
GIMO has been the topic of a number of other reports. ValuEngine upgraded shares of Gigamon from a sell rating to a hold rating in a research note on Friday, June 2nd. Needham & Company LLC boosted their price target on shares of Gigamon from $34.00 to $50.00 and gave the stock a buy rating in a research note on Monday, June 5th. Zacks Investment Research lowered shares of Gigamon from a hold rating to a sell rating in a research note on Wednesday, June 14th. BidaskClub lowered shares of Gigamon from a hold rating to a sell rating in a research note on Wednesday, June 21st. Finally, Bank of America Corporation reiterated a neutral rating and set a $43.00 price target (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, nine have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $45.38.
Shares of Gigamon (NYSE:GIMO) opened at 42.10 on Monday. The firm has a market capitalization of $1.58 billion, a PE ratio of 532.91 and a beta of 1.51. Gigamon has a 52-week low of $28.50 and a 52-week high of $61.25. The stock’s 50 day moving average price is $41.51 and its 200-day moving average price is $38.37.
Gigamon (NYSE:GIMO) last announced its earnings results on Thursday, July 27th. The technology company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $71.36 million. During the same period in the previous year, the company posted $0.30 earnings per share. Gigamon’s quarterly revenue was down 8.0% on a year-over-year basis. Equities research analysts anticipate that Gigamon will post $0.79 EPS for the current fiscal year.
In other Gigamon news, Director Ted C. Ho sold 15,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $40.66, for a total transaction of $609,900.00. Following the transaction, the director now directly owns 16,919 shares in the company, valued at $687,926.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ted C. Ho sold 60,000 shares of the company’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $38.58, for a total transaction of $2,314,800.00. The disclosure for this sale can be found here. Insiders have sold 137,706 shares of company stock worth $5,542,039 over the last 90 days. 4.50% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of GIMO. Cubist Systematic Strategies LLC acquired a new stake in shares of Gigamon in the second quarter valued at approximately $100,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Gigamon in the first quarter valued at approximately $100,000. BNP Paribas Arbitrage SA grew its position in shares of Gigamon by 154.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,693 shares of the technology company’s stock valued at $131,000 after purchasing an additional 2,239 shares during the last quarter. Creative Planning grew its position in shares of Gigamon by 16.3% in the second quarter. Creative Planning now owns 4,070 shares of the technology company’s stock valued at $160,000 after purchasing an additional 570 shares during the last quarter. Finally, Pinebridge Investments L.P. acquired a new stake in shares of Gigamon in the second quarter valued at approximately $162,000. Institutional investors own 97.84% of the company’s stock.
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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