Whittier Trust Co. cut its position in shares of Gigamon Inc. (NYSE:GIMO) by 32.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 10,422 shares of the technology company’s stock after selling 5,078 shares during the period. Whittier Trust Co.’s holdings in Gigamon were worth $410,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in Gigamon by 1.3% in the second quarter. Nisa Investment Advisors LLC now owns 11,310 shares of the technology company’s stock valued at $432,000 after buying an additional 150 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of Gigamon by 0.6% in the first quarter. Parametric Portfolio Associates LLC now owns 40,136 shares of the technology company’s stock worth $1,427,000 after buying an additional 236 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Gigamon by 5.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,755 shares of the technology company’s stock worth $216,000 after buying an additional 265 shares in the last quarter. Creative Planning raised its position in shares of Gigamon by 8.7% in the first quarter. Creative Planning now owns 3,500 shares of the technology company’s stock worth $124,000 after buying an additional 279 shares in the last quarter. Finally, First Manhattan Co. raised its position in shares of Gigamon by 2.4% in the first quarter. First Manhattan Co. now owns 43,100 shares of the technology company’s stock valued at $2,361,000 after buying an additional 1,000 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.
Shares of Gigamon Inc. (GIMO) traded up 0.64% during trading on Friday, hitting $39.50. 303,556 shares of the stock were exchanged. The firm has a 50 day moving average price of $39.38 and a 200 day moving average price of $36.98. Gigamon Inc. has a 52 week low of $28.50 and a 52 week high of $61.25. The firm has a market capitalization of $1.48 billion, a P/E ratio of 500.00 and a beta of 1.53.
Gigamon (NYSE:GIMO) last posted its earnings results on Thursday, July 27th. The technology company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by $0.12. Gigamon had a return on equity of 0.41% and a net margin of 0.95%. The business had revenue of $69.10 million for the quarter, compared to analyst estimates of $71.36 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts forecast that Gigamon Inc. will post $0.79 EPS for the current fiscal year.
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Several analysts recently issued reports on GIMO shares. Needham & Company LLC lowered their price target on Gigamon from $38.00 to $34.00 and set a “buy” rating for the company in a report on Friday, April 28th. Stifel Nicolaus raised their target price on Gigamon from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. 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. ValuEngine raised shares of Gigamon from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Vetr cut shares of Gigamon from a “strong-buy” rating to a “hold” rating and set a $42.50 target price on the stock. in a report on Monday, May 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $45.38.
In related news, insider Paul B. Shinn sold 2,706 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $39.63, for a total transaction of $107,238.78. Following the transaction, the insider now owns 32,985 shares in the company, valued at approximately $1,307,195.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ted C. Ho sold 60,000 shares of the business’s stock in a transaction on 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. Over the last quarter, insiders have sold 178,485 shares of company stock worth $7,181,640. 4.50% of the stock is owned by corporate insiders.
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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