Gigamon Target of Unusually Large Options Trading (GIMO)

Gigamon Inc (NYSE:GIMO) was the recipient of unusually large options trading on Friday. Traders purchased 8,695 call options on the stock. This is an increase of approximately 1,863% compared to the typical daily volume of 443 call options.

A number of equities analysts have issued reports on GIMO shares. William Blair reiterated an “outperform” rating and set a $85.00 target price on shares of Gigamon in a report on Friday, February 3rd. Needham & Company LLC decreased their price objective on Gigamon from $48.00 to $38.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Bank of America Corp cut Gigamon from a “buy” rating to a “neutral” rating in a report on Friday, February 3rd. FBN Securities assumed coverage on Gigamon in a report on Thursday, March 16th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, JMP Securities upgraded Gigamon from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Friday, March 17th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $46.19.

In related news, VP Helmut Wilke sold 15,000 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $34.66, for a total transaction of $519,900.00. Following the sale, the vice president now owns 52,441 shares of the company’s stock, valued at approximately $1,817,605.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dario Zamarian acquired 5,706 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The shares were acquired at an average cost of $35.05 per share, for a total transaction of $199,995.30. Following the purchase, the director now directly owns 15,206 shares in the company, valued at approximately $532,970.30. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 198,185 shares of company stock worth $6,528,597. Company insiders own 9.66% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. increased its stake in Gigamon by 2.0% in the third quarter. Advisor Group Inc. now owns 3,064 shares of the technology company’s stock worth $167,000 after buying an additional 61 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in 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 last quarter. Envestnet Asset Management Inc. increased its stake in 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 during the last quarter. Creative Planning increased its stake in 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 during the last quarter. Finally, US Bancorp DE increased its stake in Gigamon by 15.4% in the third quarter. US Bancorp DE now owns 2,619 shares of the technology company’s stock worth $144,000 after buying an additional 349 shares during the last quarter. 83.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Gigamon (NYSE:GIMO) traded down 0.53% during midday trading on Friday, reaching $37.65. 784,167 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $35.78 and a 200 day moving average price of $40.79. The firm has a market cap of $1.38 billion, a PE ratio of 32.07 and a beta of 1.56. Gigamon has a 12 month low of $28.50 and a 12 month high of $61.25.

Gigamon (NYSE:GIMO) last announced its earnings results on Thursday, April 27th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $69.60 million during the quarter, compared to analyst estimates of $68.77 million. Gigamon had a net margin of 15.90% and a return on equity of 6.57%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 earnings per share. Equities research analysts predict that Gigamon will post $0.69 earnings per share for the current year.

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About Gigamon

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.

12 Month Chart for NYSE:GIMO

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