Teachers Advisors LLC increased its stake in shares of Gigamon Inc. (NYSE:GIMO) by 1.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 363,290 shares of the technology company’s stock after buying an additional 4,973 shares during the period. Teachers Advisors LLC owned approximately 0.99% of Gigamon worth $12,915,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Penserra Capital Management LLC bought a new stake in shares of Gigamon during the first quarter worth approximately $38,045,000. American Capital Management Inc. raised its stake in Gigamon by 116.3% in the first quarter. American Capital Management Inc. now owns 836,605 shares of the technology company’s stock worth $29,741,000 after buying an additional 449,755 shares during the last quarter. FMR LLC raised its stake in Gigamon by 185.0% in the fourth quarter. FMR LLC now owns 643,346 shares of the technology company’s stock worth $29,304,000 after buying an additional 417,591 shares during the last quarter. Norges Bank purchased a new stake in shares of Gigamon during the fourth quarter valued at about $11,609,000. Finally, Pictet Asset Management Ltd. purchased a new stake in shares of Gigamon during the first quarter valued at about $4,842,000. 84.16% of the stock is owned by institutional investors.
Shares of Gigamon Inc. (NYSE:GIMO) opened at 40.40 on Monday. Gigamon Inc. has a 12-month low of $28.50 and a 12-month high of $61.25. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 511.39 and a beta of 1.53. The firm’s 50-day moving average is $39.34 and its 200-day moving average is $36.71.
Gigamon (NYSE:GIMO) last released its 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. The business had revenue of $69.10 million during the quarter, compared to analysts’ expectations of $71.36 million. Gigamon had a return on equity of 0.41% and a net margin of 0.95%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 earnings per share. Analysts predict that Gigamon Inc. will post $0.70 earnings per share for the current fiscal year.
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Several research firms have commented on GIMO. Stifel Nicolaus reissued a “buy” rating and set a $48.00 target price on shares of Gigamon in a research report on Sunday. BidaskClub downgraded Gigamon from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. DA Davidson raised their price target on Gigamon from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday. JMP Securities reiterated an “outperform” rating and issued a $37.00 target price (down previously from $45.00) on shares of Gigamon in a research note on Monday, May 1st. Finally, Rosenblatt Securities reiterated a “hold” rating and issued a $40.00 target price on shares of Gigamon in a research note on Sunday, April 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $46.04.
In other Gigamon news, Director Ted C. Ho sold 60,000 shares of the company’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $38.58, for a total transaction of $2,314,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Helmut Wilke sold 15,000 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $34.66, for a total transaction of $519,900.00. Following the completion of the transaction, the vice president now owns 52,441 shares in the company, valued at approximately $1,817,605.06. The disclosure for this sale can be found here. Insiders sold a total of 208,964 shares of company stock worth $7,732,298 over the last ninety days. Insiders own 4.50% of the company’s stock.
About Gigamon
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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