Gigamon Inc (GIMO) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Oct 13, 2016.
Many Wall Street Analysts have commented on Gigamon Inc. Gigamon Inc was Downgraded by Raymond James to ” Mkt Perform” on Oct 5, 2016. DA Davidson Downgraded Gigamon Inc on Oct 5, 2016 to ” Neutral”, Price Target of the shares are set at $59.Gigamon Inc was Resumed by Stifel to “Hold” on Aug 30, 2016.
On the company’s financial health, Gigamon Inc reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.24. The company had revenue of $75.10 million for the quarter, compared to analysts expectations of $70.10 million. The company’s revenue was up 46.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.
Gigamon Inc closed down -3.22 points or -6.05% at $49.97 with 13,44,110 shares getting traded on Tuesday. Post opening the session at $52.81, the shares hit an intraday low of $49.43 and an intraday high of $53.5 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Oct 4, 2016, Ted C Ho (director) sold 60,000 shares at $54.92 per share price. According to the SEC, on Sep 23, 2016, Mike Burns (Chief Financial Officer) sold 2,068 shares at $54.24 per share price. On Aug 24, 2016, Helmut Wilke (Sr. VP Worldwide Sales) sold 4,000 shares at $45.24 per share price, according to the Form-4 filing with the securities and exchange commission.
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 (or a Fabric) 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.