The stock of Gigamon Inc (NYSE:GIMO) hit a new 52-week high and has $73.79 target or 29.00% above today’s $57.20 share price. The 7 months bullish chart indicates low risk for the $1.93 billion company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $73.79 price target is reached, the company will be worth $559.70M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 627,163 shares traded hands. Gigamon Inc (NYSE:GIMO) has risen 75.03% since April 5, 2016 and is uptrending. It has outperformed by 73.08% the S&P500.
Gigamon Inc (NYSE:GIMO) Ratings Coverage
Out of 6 analysts covering Gigamon (NYSE:GIMO), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. Gigamon has been the topic of 8 analyst reports since March 30, 2016 according to StockzIntelligence Inc. Bank of America upgraded the stock to “Buy” rating in Thursday, October 13 report. The firm has “Neutral” rating given on Wednesday, October 5 by DA Davidson. The rating was maintained by Needham with “Buy” on Friday, July 29. The rating was initiated by JMP Securities on Thursday, October 6 with “Market Perform”. On Tuesday, August 30 the stock rating was initiated by Stifel Nicolaus with “Hold”. The firm earned “Hold” rating on Wednesday, March 30 by Stifel Nicolaus. Needham maintained it with “Buy” rating and $58 target price in Monday, October 24 report. The firm has “Mkt Perform” rating by Raymond James given on Wednesday, October 5.
According to Zacks Investment Research, “Gigamon Inc. is engaged in providing intelligent Traffic Visibility solutions for enterprises, data centers and service providers. Its products consist of GigaVUE, GigaSECURE, GigaSMART and GigaTAP products. The Company’s fabric enables information technology organizations to forward traffic from network infrastructure to management, analysis, and compliance and security tools. It has operations primarily in the United States, the rest of North America, Europe, the Middle East, Africa, and the Asia Pacific. Gigamon Inc. is headquartered in Milpitas, California.”
Insitutional Activity: The institutional sentiment decreased to 1.18 in 2016 Q2. Its down 0.12, from 1.3 in 2016Q1. The ratio worsened, as 24 funds sold all Gigamon Inc shares owned while 60 reduced positions. 35 funds bought stakes while 64 increased positions. They now own 27.20 million shares or 0.57% less from 27.35 million shares in 2016Q1.
Moreover, Royal Fincl Bank Of Canada has 0% invested in Gigamon Inc (NYSE:GIMO) for 28,959 shares. Ladenburg Thalmann Services accumulated 0% or 645 shares. Fortaleza Asset Incorporated has 0.2% invested in the company for 6,565 shares. State Street owns 582,674 shares or 0% of their US portfolio. Barclays Public has 68,756 shares for 0% of their US portfolio. Manufacturers Life Insurance The, a Ontario – Canada-based fund reported 21,976 shares. Wellington Management Gru Ltd Liability Partnership reported 685,911 shares or 0.01% of all its holdings. Woodstock holds 10,071 shares or 0.08% of its portfolio. Redwood Invs Lc holds 140,855 shares or 0.48% of its portfolio. Schwab Charles Mgmt last reported 98,960 shares in the company. Wells Fargo Com Mn holds 0% of its portfolio in Gigamon Inc (NYSE:GIMO) for 296,403 shares. Mycio Wealth Prns Lc owns 68 shares or 0% of their US portfolio. Moreover, Granahan Investment Management Inc Ma has 1.59% invested in Gigamon Inc (NYSE:GIMO) for 1.17 million shares. Alyeska Investment Grp Inc Lp holds 0.14% or 378,134 shares in its portfolio. Farmers & Merchants Incorporated has 0% invested in the company for 197 shares.
Insider Transactions: Since May 23, 2016, the stock had 0 insider buys, and 21 selling transactions for $28.56 million net activity. The insider Wilke Helmut sold $180,950. Another trade for 1,000 shares valued at $52,100 was sold by BURNS MIKE. Ho Ted C sold $2.76 million worth of stock. The insider Sambandan Sachi sold 4,457 shares worth $138,430. Shares for $172,714 were sold by Merchant Shehzad. Hooper Paul also sold $2.02M worth of Gigamon Inc (NYSE:GIMO) shares. Shares for $6.08 million were sold by Shinn Paul B on Thursday, August 11.
More news for Gigamon Inc (NYSE:GIMO) were recently published by: Fool.com, which released: “Why Gigamon Inc. Stock Spiked Today” on October 28, 2016. Streetinsider.com‘s article titled: “Form 4 Gigamon Inc. For: Nov 01 Filed by: Ho Ted C” and published on November 03, 2016 is yet another important article.
GIMO Company Profile
Gigamon Inc., incorporated on January 2, 2009, offers solutions that deliver visibility and control of traffic across networks. The Company’s Visibility Fabric solution consists of a distributed system of nodes that enable a level of visibility, modification and control of network traffic. The Visibility Fabric solution is consisted of data center and central office physical appliances, virtual nodes in virtualized or private cloud environments and small form-factor remote site appliances that enable pervasive visibility of network infrastructures. The Company’s Visibility Fabric enables organizations to improve their cyber-security posture by leveraging the power of network visibility to establish visibility within the perimeter of their information technology (IT) infrastructure; mobile service providers to gain visibility into their IT infrastructure enabling them to reduce operational costs, and provide services for the subscribers, and IT departments to enhance the performance of their network management, analysis and compliance tools. The Visibility Fabric is deployed using its GigaVUE family of products. It has presence in the United States; Rest of Americas; Europe, Middle East and Africa, and Asia Pacific.
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