Gigamon Inc. (NYSE:GIMO) Downgraded to Market Perform at JMP Securities

Gigamon Inc. (NYSE:GIMO) was downgraded by analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a report issued on Friday, October 6th, Marketbeat reports.

Several other equities research analysts have also issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 target price on shares of Gigamon in a report on Monday, September 25th. BidaskClub upgraded Gigamon from a “hold” rating to a “buy” rating in a research note on Thursday, September 14th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Gigamon in a research note on Tuesday, September 12th. ValuEngine upgraded Gigamon from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Dougherty & Co upgraded Gigamon from a “neutral” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $45.95.

Gigamon (NYSE:GIMO) opened at 35.40 on Friday. Gigamon has a 12 month low of $28.50 and a 12 month high of $61.25. The company has a market capitalization of $1.32 billion, a PE ratio of 448.10 and a beta of 1.50. The stock’s 50 day moving average is $42.19 and its 200-day moving average is $39.27.

Gigamon (NYSE:GIMO) last released its quarterly earnings results on Thursday, July 27th. The technology company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.12). The business had revenue of $69.10 million for the quarter, compared to analysts’ expectations of $71.36 million. Gigamon had a net margin of 0.95% and a return on equity of 0.41%. Gigamon’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 EPS. On average, analysts expect that Gigamon will post $0.79 EPS for the current year.

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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 sale, the director now owns 16,919 shares of the company’s stock, valued at $687,926.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ted C. Ho sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $40.68, for a total value of $1,220,400.00. Following the completion of the sale, the director now directly owns 16,919 shares of the company’s stock, valued at approximately $688,264.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,706 shares of company stock worth $5,144,239. Insiders own 4.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in GIMO. Ameritas Investment Partners Inc. acquired a new stake in shares of Gigamon during the first quarter worth about $100,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Gigamon during the second quarter worth about $100,000. BNP Paribas Arbitrage SA lifted 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 purchasing an additional 2,239 shares during the period. Creative Planning lifted 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 purchasing an additional 570 shares during the period. Finally, Pinebridge Investments L.P. acquired a new stake in shares of Gigamon during the second quarter worth about $162,000. 97.84% of the stock is owned by hedge funds and other institutional investors.

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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