Gigamon Inc. (NYSE:GIMO) released its earnings results on Thursday. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.05. The firm earned $83.50 million during the quarter, compared to analyst estimates of $79.32 million. Gigamon had a return on equity of 7.78% and a net margin of 15.56%. The business’s quarterly revenue was up 47.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 earnings per share.
Shares of Gigamon (NYSE:GIMO) opened at 55.01 on Monday. The stock has a 50 day moving average price of $51.48 and a 200 day moving average price of $40.82. The stock has a market cap of $1.94 billion, a P/E ratio of 47.59 and a beta of 1.76. Gigamon has a 12 month low of $21.23 and a 12 month high of $56.80.
Several equities analysts recently commented on the company. Needham & Company LLC upped their target price on Gigamon from $52.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, October 24th. Bank of America Corp. upgraded Gigamon from a “neutral” rating to a “buy” rating and upped their target price for the company from $48.00 to $61.00 in a research note on Thursday, October 13th. Zacks Investment Research lowered Gigamon from a “hold” rating to a “sell” rating in a research note on Friday, October 7th. JMP Securities assumed coverage on Gigamon in a research note on Thursday, October 6th. They issued a “market perform” rating for the company. Finally, Raymond James Financial Inc. lowered Gigamon from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $55.00.
In other news, insider Paul B. Shinn sold 132,978 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $45.75, for a total value of $6,083,743.50. Following the completion of the sale, the insider now owns 120,992 shares in the company, valued at $5,535,384. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mike Burns sold 1,000 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $52.10, for a total value of $52,100.00. Following the completion of the sale, the chief financial officer now owns 77,637 shares of the company’s stock, valued at approximately $4,044,887.70. The disclosure for this sale can be found here. Insiders own 9.66% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. acquired a new stake in Gigamon during the second quarter worth about $45,596,000. AO Asset Management LLC acquired a new stake in Gigamon during the second quarter worth about $20,695,000. Bank of Montreal Can acquired a new stake in Gigamon during the second quarter worth about $13,572,000. Harvest Capital Strategies LLC acquired a new stake in Gigamon during the first quarter worth about $7,160,000. Finally, Sylebra HK Co Ltd acquired a new stake in Gigamon during the second quarter worth about $8,609,000. Institutional investors own 76.20% of the company’s stock.