Gigamon Inc. (GIMO) Receives $42.05 Consensus PT from Analysts
Shares of Gigamon Inc. (NYSE:GIMO) have been assigned a consensus recommendation of “Hold” from the fifteen research firms that are covering the company, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $42.05.
Several equities analysts have issued reports on GIMO shares. Bank of America Corporation reaffirmed a “neutral” rating and set a $43.00 price objective (up previously from $33.00) on shares of Gigamon in a report on Thursday, June 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Gigamon in a report on Thursday, August 31st. ValuEngine raised Gigamon from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 price objective on shares of Gigamon in a report on Monday, September 25th. Finally, BidaskClub raised Gigamon from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th.
In related news, Director Ted C. Ho sold 15,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $40.66, for a total transaction of $609,900.00. Following the transaction, the director now owns 16,919 shares of the company’s stock, valued at $687,926.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ted C. Ho sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $42.63, for a total value of $1,278,900.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,706 shares of company stock worth $7,459,039. Corporate insiders own 4.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GIMO. Ameritas Investment Partners Inc. purchased a new position in shares of Gigamon during the first quarter worth about $100,000. Cubist Systematic Strategies LLC purchased a new position in shares of Gigamon during the second quarter worth about $100,000. BNP Paribas Arbitrage SA grew its holdings in shares of Gigamon by 154.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,693 shares of the technology company’s stock worth $131,000 after buying an additional 2,239 shares during the last quarter. Creative Planning grew its holdings in shares of Gigamon by 16.3% during 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. Finally, Pinebridge Investments L.P. purchased a new position in shares of Gigamon during the second quarter worth about $162,000. 97.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Gigamon (NYSE GIMO) traded up 1.04% on Friday, reaching $43.55. The company had a trading volume of 480,277 shares. The firm’s 50 day moving average is $42.37 and its 200 day moving average is $39.06. Gigamon has a 12 month low of $28.50 and a 12 month high of $61.25. The firm has a market capitalization of $1.63 billion, a PE ratio of 551.27 and a beta of 1.50.
Gigamon (NYSE:GIMO) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported ($0.20) earnings per share for the quarter, missing the Zacks’ 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 during the quarter, compared to analyst estimates of $71.36 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. On average, equities research analysts expect that Gigamon will post $0.79 earnings per share for the current fiscal year.
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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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