Gigamon Inc. (NYSE:GIMO) SVP Paul B. Shinn sold 2,072 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $38.55, for a total value of $79,875.60. Following the completion of the sale, the senior vice president now owns 28,185 shares in the company, valued at $1,086,531.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Gigamon Inc. (NYSE GIMO) traded up $0.15 during midday trading on Thursday, reaching $38.65. The company’s stock had a trading volume of 475,593 shares, compared to its average volume of 1,107,861. Gigamon Inc. has a 1 year low of $28.50 and a 1 year high of $50.35.
Gigamon (NYSE:GIMO) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $79.20 million for the quarter, compared to the consensus estimate of $84.73 million. Gigamon had a negative return on equity of 0.55% and a negative net margin of 0.32%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. equities analysts forecast that Gigamon Inc. will post -0.12 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in GIMO. BlackRock Inc. grew its position in shares of Gigamon by 95.7% in the second quarter. BlackRock Inc. now owns 3,940,796 shares of the technology company’s stock valued at $155,072,000 after purchasing an additional 1,927,607 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Gigamon by 15.5% in the second quarter. Vanguard Group Inc. now owns 2,949,083 shares of the technology company’s stock valued at $116,046,000 after purchasing an additional 394,726 shares during the last quarter. Elliott Management Corp acquired a new position in shares of Gigamon in the second quarter valued at approximately $103,546,000. Nomura Holdings Inc. acquired a new position in shares of Gigamon in the second quarter valued at approximately $55,350,000. Finally, Disciplined Growth Investors Inc. MN grew its position in shares of Gigamon by 21.2% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,340,215 shares of the technology company’s stock valued at $52,737,000 after purchasing an additional 234,752 shares during the last quarter. 96.79% of the stock is currently owned by hedge funds and other institutional investors.
GIMO has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Gigamon in a research report on Thursday, August 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $48.00 target price on shares of Gigamon in a research report on Monday, September 25th. BidaskClub raised Gigamon from a “hold” rating to a “buy” rating in a research report on Thursday, September 14th. ValuEngine raised Gigamon from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, JMP Securities downgraded Gigamon from an “outperform” rating to a “market perform” rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Gigamon has an average rating of “Hold” and a consensus target price of $45.09.
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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