Needham & Company LLC Reaffirms “Buy” Rating for Gigamon Inc. (GIMO)

Needham & Company LLC reissued their buy rating on shares of Gigamon Inc. (NYSE:GIMO) in a research report released on Tuesday morning. The brokerage currently has a $50.00 price objective on the technology company’s stock.

A number of other equities analysts also recently commented on GIMO. ValuEngine raised shares of Gigamon from a sell rating to a hold rating in a report on Friday, June 2nd. Stifel Nicolaus reaffirmed a buy rating and set a $45.00 price objective on shares of Gigamon in a report on Monday, June 5th. Zacks Investment Research downgraded shares of Gigamon from a hold rating to a sell rating in a report on Wednesday, June 14th. BidaskClub downgraded shares of Gigamon from a hold rating to a sell rating in a report on Wednesday, June 21st. Finally, Bank of America Corporation reaffirmed a neutral rating and set a $43.00 price objective (up from $33.00) on shares of Gigamon in a report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $45.38.

Shares of Gigamon (NYSE GIMO) traded down 1.80% during midday trading on Tuesday, hitting $43.60. 155,135 shares of the company were exchanged. Gigamon has a one year low of $28.50 and a one year high of $61.25. The stock’s 50-day moving average is $41.15 and its 200-day moving average is $38.09. The stock has a market cap of $1.63 billion, a PE ratio of 551.90 and a beta of 1.51.

Gigamon (NYSE:GIMO) last released its quarterly earnings data on Thursday, July 27th. The technology company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.12). The business had revenue of $69.10 million for the quarter, compared to the consensus estimate of $71.36 million. Gigamon had a return on equity of 0.41% and a net margin of 0.95%. Gigamon’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 earnings per share. Equities research analysts anticipate that Gigamon will post $0.79 EPS for the current year.

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In other Gigamon news, Director Ted C. Ho sold 15,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $40.66, for a total value of $609,900.00. Following the completion of the sale, the director now owns 16,919 shares in the company, valued at approximately $687,926.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ted C. Ho sold 60,000 shares of the firm’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 disclosure for this sale can be found here. Insiders have sold a total of 107,706 shares of company stock valued at $4,252,339 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC acquired a new stake in Gigamon in the 2nd quarter valued at about $9,070,000. Disciplined Growth Investors Inc. MN increased its position in Gigamon by 21.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,340,215 shares of the technology company’s stock valued at $52,737,000 after acquiring an additional 234,752 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Gigamon in the 2nd quarter valued at about $334,000. Piedmont Investment Advisors LLC acquired a new stake in Gigamon in the 2nd quarter valued at about $266,000. Finally, Ameritas Investment Partners Inc. increased its position in Gigamon by 13.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,172 shares of the technology company’s stock valued at $125,000 after acquiring an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

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.

Analyst Recommendations for Gigamon (NYSE:GIMO)

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