The stock of Gigamon Inc (NYSE:GIMO) hit a new 52-week high and has $92.07 target or 55.00% above today’s $59.40 share price. The 9 months bullish chart indicates low risk for the $2.17 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $92.07 price target is reached, the company will be worth $1.19B 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 184,883 shares traded hands. Gigamon Inc (NYSE:GIMO) has risen 93.82% since April 19, 2016 and is uptrending. It has outperformed by 89.96% 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. The firm has “Market Perform” rating given on Thursday, October 6 by JMP Securities. The stock of Gigamon Inc (NYSE:GIMO) earned “Mkt Perform” rating by Raymond James on Wednesday, October 5. The rating was maintained by Needham on Friday, July 29 with “Buy”. The company was maintained on Monday, October 24 by Needham. The stock of Gigamon Inc (NYSE:GIMO) earned “Neutral” rating by DA Davidson on Wednesday, October 5. Stifel Nicolaus initiated Gigamon Inc (NYSE:GIMO) on Wednesday, March 30 with “Hold” rating. The firm earned “Buy” rating on Thursday, October 13 by Bank of America. The company was initiated on Tuesday, August 30 by Stifel Nicolaus.
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 1.14 in 2016 Q2. Its down 0.04, from 1.18 in 2016Q1. The ratio turned negative, 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.
Essex Invest Mngmt Ltd Llc holds 76,724 shares or 0.48% of its portfolio. Raymond James Associate owns 6,950 shares or 0% of their US portfolio. Orinda Asset Mgmt Limited Co holds 4,198 shares or 0.14% of its portfolio. Numeric Invsts Limited Company owns 55,800 shares or 0.02% of their US portfolio. State Street holds 0% of its portfolio in Gigamon Inc (NYSE:GIMO) for 582,674 shares. Pnc Financial Services Grp Inc has 0% invested in the company for 3,577 shares. Credit Suisse Ag accumulated 75,669 shares or 0% of the stock. Deutsche Fincl Bank Ag has invested 0.01% of its portfolio in Gigamon Inc (NYSE:GIMO). Moreover, D E Shaw And has 0.02% invested in Gigamon Inc (NYSE:GIMO) for 270,851 shares. Manufacturers Life Ins The, a Ontario – Canada-based fund reported 21,976 shares. Moreover, Neuberger Berman Grp Lc has 0% invested in Gigamon Inc (NYSE:GIMO) for 22,500 shares. Alyeska Investment Group Ltd Partnership holds 0.14% or 378,134 shares in its portfolio. Jacobs Levy Equity has 0.03% invested in the company for 42,360 shares. Creative Planning reported 700 shares or 0% of all its holdings. Cubist Systematic Strategies Limited has 8,334 shares for 0.02% of their US portfolio.
Insider Transactions: Since May 23, 2016, the stock had 0 insider buys, and 22 selling transactions for $29.04 million net activity. 2,300 shares were sold by BURNS MIKE, worth $69,000. $3.28M worth of Gigamon Inc (NYSE:GIMO) was sold by Ho Ted C. Wilke Helmut had sold 5,000 shares worth $288,385 on Friday, November 18. On Thursday, August 4 Merchant Shehzad sold $3.25M worth of the stock or 72,763 shares. Shares for $446,820 were sold by Sambandan Sachi. $191,079 worth of shares were sold by Shinn Paul B on Thursday, November 17. The insider Hooper Paul sold 45,000 shares worth $2.02M.
Another recent and important Gigamon Inc (NYSE:GIMO) news was published by Fool.com which published an article titled: “Why Gigamon Inc. Stock Spiked Today” on October 28, 2016.
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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