Gigamon Inc (NASDAQ:GIMO) announced its quarterly earnings results on Thursday. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.06, Market Beat reports. The company earned $67 million during the quarter, compared to analysts’ expectations of $62.76 million. During the same period last year, the firm earned $0.18 earnings per share. Gigamon’s revenue for the quarter was up 30.8% on a year-over-year basis.
A number of equities analysts have commented on the company. TheStreet raised Gigamon from a “sell” rating to a “hold” rating in a research note on Monday, November 16th. Zacks Investment Research upgraded Gigamon from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Wednesday, December 30th. William Blair restated a “buy” rating on shares of Gigamon in a research report on Friday, October 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $39.00 target price on shares of Gigamon in a report on Friday, October 23rd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Gigamon presently has an average rating of “Buy” and a consensus target price of $34.00.
In other Gigamon news, Director Ted C. Ho sold 20,000 shares of Gigamon stock in a transaction dated Tuesday, November 24th. The stock was sold at an average price of $26.99, for a total transaction of $539,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul Hooper sold 30,000 shares of Gigamon stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $26.42, for a total value of $792,600.00. Following the sale, the chief executive officer now directly owns 115,904 shares of the company’s stock, valued at approximately $3,062,183.68. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Gigamon stock. Russell Frank Co boosted its position in Gigamon Inc (NASDAQ:GIMO) by 94.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,684 shares of the company’s stock after buying an additional 30,905 shares during the period. Russell Frank Co owned about 0.19% of Gigamon worth $1,738,000 at the end of the most recent quarter.
Shares of Gigamon (NASDAQ:GIMO) traded down 7.10% during mid-day trading on Thursday, reaching $22.10. The company’s stock had a trading volume of 796,627 shares. The firm’s 50-day moving average price is $25.03 and its 200 day moving average price is $25.32. Gigamon has a 12-month low of $15.68 and a 12-month high of $34.80. The firm has a market cap of $751.89 million and a P/E ratio of 123.46.
Gigamon Inc. offers a solution that delivers visibility and control of traffic across networks. The Company’s Unified Visibility Fabric solution consists of a distributed system of nodes (NASDAQ:GIMO) that enables a level of visibility, modification and control of network traffic. The Visibility Fabric spans physical appliances, virtual nodes and traffic from remote sites to enable visibility of network infrastructures. Its Fabric enables IT organizations to gain visibility into infrastructure by forwarding selected traffic of interest from network and server infrastructure to management, analysis, compliance and security tools. Its product offering includes a single product family comprising its GigaVUE, GigaSECURE, GigaSMART and GigaTAP products. Its GigaSMART platform provides a range of software applications to modify, manipulate, transform, filter, correlate and sample network traffic.
By Michael Goldstein
Gigamon Inc (GIMO) Announces Earnings Results
Gigamon Inc (NASDAQ:GIMO) announced its quarterly earnings results on Thursday. The company reported $0.29 EPS for the quarter, topping the Zacks' consensus estimate of $0.23 by $0.06, Market Beat reports. The company earned $67 million during the quarter, compared to analysts' expectations of $62.76 million.
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