Gigamon Inc. (NYSE:GIMO) saw unusually large options trading activity on Friday. Traders bought 517 put options on the company. This represents an increase of 127% compared to the typical volume of 228 put options.
Gigamon (NYSE GIMO) traded up 7.02% on Friday, reaching $40.40. 1,606,298 shares of the company’s stock traded hands. The company’s 50 day moving average is $39.34 and its 200-day moving average is $36.71. Gigamon has a 52-week low of $28.50 and a 52-week high of $61.25. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 40.40 and a beta of 1.53.
Gigamon (NYSE:GIMO) last released its earnings results on Thursday, July 27th. The technology company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.12. The company had revenue of $69.10 million during the quarter, compared to analysts’ expectations of $71.36 million. Gigamon had a net margin of 0.95% and a return on equity of 0.41%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Equities analysts expect that Gigamon will post $0.70 EPS for the current year.
In other news, Director Ted C. Ho sold 60,000 shares of the company’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $38.58, for a total value of $2,314,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Helmut Wilke sold 15,000 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $34.66, for a total transaction of $519,900.00. Following the completion of the sale, the vice president now directly owns 52,441 shares in the company, valued at $1,817,605.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 208,964 shares of company stock valued at $7,732,298. Company insiders own 4.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Credit Suisse AG boosted its position in Gigamon by 3,567.2% in the first quarter. Credit Suisse AG now owns 1,525,774 shares of the technology company’s stock worth $54,241,000 after buying an additional 1,484,168 shares during the last quarter. American Capital Management Inc. boosted its position in Gigamon by 33.6% in the second quarter. American Capital Management Inc. now owns 1,118,115 shares of the technology company’s stock worth $43,998,000 after buying an additional 281,510 shares during the last quarter. Penserra Capital Management LLC bought a new position in Gigamon during the first quarter worth $38,045,000. Champlain Investment Partners LLC bought a new position in Gigamon during the first quarter worth $34,143,000. Finally, State Street Corp boosted its position in Gigamon by 5.4% in the fourth quarter. State Street Corp now owns 644,275 shares of the technology company’s stock worth $29,348,000 after buying an additional 33,040 shares during the last quarter. Hedge funds and other institutional investors own 84.20% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $45.00 target price on shares of Gigamon in a report on Monday, June 5th. DA Davidson cut shares of Gigamon from a “buy” rating to a “neutral” rating and upped their target price for the company from $36.00 to $40.00 in a report on Tuesday, May 9th. 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. Zacks Investment Research cut shares of Gigamon from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Needham & Company LLC set a $50.00 target price on shares of Gigamon and gave the company a “buy” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $45.79.
COPYRIGHT VIOLATION NOTICE: This news story was published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & international copyright & trademark laws. The original version of this news story can be read at https://www.chaffeybreeze.com/2017/07/30/gigamon-sees-unusually-large-options-volume-gimo-updated-updated-updated.html.
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.
Receive News & Ratings for Gigamon Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gigamon Inc. and related companies with MarketBeat.com's FREE daily email newsletter.