Vanguard Group Inc. decreased its stake in Gigamon Inc. (NYSE:GIMO) by 9.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,554,357 shares of the technology company’s stock after selling 251,818 shares during the period. Vanguard Group Inc. owned 6.99% of Gigamon worth $90,807,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of GIMO. Norges Bank bought a new stake in Gigamon during the fourth quarter worth approximately $11,609,000. JPMorgan Chase & Co. boosted its stake in Gigamon by 156.7% in the first quarter. JPMorgan Chase & Co. now owns 54,470 shares of the technology company’s stock worth $1,936,000 after buying an additional 33,253 shares during the period. Juncture Wealth Strategies LLC bought a new stake in Gigamon during the first quarter worth approximately $232,000. Teachers Advisors LLC boosted its stake in Gigamon by 1.4% in the first quarter. Teachers Advisors LLC now owns 363,290 shares of the technology company’s stock worth $12,915,000 after buying an additional 4,973 shares during the period. Finally, Legato Capital Management LLC bought a new stake in Gigamon during the first quarter worth approximately $1,860,000. 78.19% of the stock is currently owned by hedge funds and other institutional investors.
Gigamon Inc. (NYSE GIMO) opened at 39.50 on Friday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 500.00 and a beta of 1.53. The company has a 50-day moving average of $39.38 and a 200-day moving average of $36.98. Gigamon Inc. has a 1-year low of $28.50 and a 1-year high of $61.25.
Gigamon (NYSE:GIMO) last announced its quarterly earnings data on Thursday, July 27th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.12. The firm 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 business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. Analysts anticipate that Gigamon Inc. will post $0.79 earnings per share for the current fiscal year.
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A number of equities research analysts recently commented on GIMO shares. Credit Suisse Group cut shares of Gigamon from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $38.00 to $29.00 in a report on Friday, April 28th. William Blair cut shares of Gigamon from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. Needham & Company LLC lowered their price target on shares of Gigamon from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, April 28th. Dougherty & Co cut shares of Gigamon from a “buy” rating to a “neutral” rating in a report on Friday, April 28th. Finally, Rosenblatt Securities reaffirmed a “hold” rating and issued a $40.00 price target on shares of Gigamon in a report on Sunday, April 30th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.38.
In other news, insider Paul B. Shinn sold 2,706 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $39.63, for a total value of $107,238.78. Following the completion of the sale, the insider now directly owns 32,985 shares of the company’s stock, valued at $1,307,195.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ted C. Ho sold 60,000 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $41.58, for a total transaction of $2,494,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 178,485 shares of company stock valued at $7,181,640. Corporate insiders own 4.50% of the company’s stock.
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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