Voya Investment Management LLC increased its stake in Gigamon Inc. (NYSE:GIMO) by 25.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,723 shares of the technology company’s stock after acquiring an additional 3,384 shares during the period. Voya Investment Management LLC’s holdings in Gigamon were worth $658,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Senvest Management LLC boosted its position in shares of Gigamon by 1.1% in the second quarter. Senvest Management LLC now owns 878,492 shares of the technology company’s stock worth $34,569,000 after acquiring an additional 9,581 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Gigamon in the second quarter worth approximately $1,379,000. Virtu KCG Holdings LLC acquired a new stake in shares of Gigamon in the second quarter worth approximately $414,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Gigamon in the second quarter worth approximately $417,000. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Gigamon by 33.8% in the second quarter. Parametric Portfolio Associates LLC now owns 53,708 shares of the technology company’s stock worth $2,113,000 after acquiring an additional 13,572 shares during the last quarter. 99.11% of the stock is currently owned by institutional investors and hedge funds.
In other Gigamon news, Director Ted C. Ho sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $40.68, for a total transaction of $1,220,400.00. Following the completion of the sale, the director now owns 16,919 shares of the company’s stock, valued at $688,264.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul B. Shinn sold 2,706 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $39.63, for a total value of $107,238.78. Following the sale, the insider now directly owns 32,985 shares of the company’s stock, valued at approximately $1,307,195.55. The disclosure for this sale can be found here. In the last three months, insiders sold 122,706 shares of company stock valued at $5,144,239. 4.50% of the stock is currently owned by company insiders.
Gigamon (NYSE:GIMO) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.23 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. The business had revenue of $79.20 million during the quarter, compared to analysts’ expectations of $84.73 million. Gigamon had a negative return on equity of 0.55% and a negative net margin of 0.32%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS.
Several research firms recently issued reports on GIMO. BidaskClub cut shares of Gigamon from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Gigamon in a research report on Tuesday, September 12th. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 target price on shares of Gigamon in a research report on Tuesday, September 12th. DA Davidson raised their target price on shares of Gigamon from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Finally, JMP Securities cut shares of Gigamon from an “outperform” rating to a “market perform” rating in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Gigamon has an average rating of “Hold” and a consensus price target of $45.09.
Gigamon Company Profile
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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