Granahan Investment Management Incma Lowers stake in Gigamon Inc (GIMO)

Gigamon Inc (GIMO) : Granahan Investment Management Incma reduced its stake in Gigamon Inc by 17.83% during the most recent quarter end. The investment management company now holds a total of 958,573 shares of Gigamon Inc which is valued at $55,022,090 after selling 208,062 shares in Gigamon Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Gigamon Inc makes up approximately 1.86% of Granahan Investment Management Incma’s portfolio.

Other Hedge Funds, Including , Highland Management Partners Vii reduced its stake in GIMO by selling 1,274,500 shares or 92.72% in the most recent quarter. The Hedge Fund company now holds 100,000 shares of GIMO which is valued at $5,900,000. Gigamon Inc makes up approx 97.87% of Highland Management Partners Vii’s portfolio. Usa Financial Portformulas Corp sold out all of its stake in GIMO during the most recent quarter. The investment firm sold 14,701 shares of GIMO which is valued $827,666. Engineers Gate Manager Lp added GIMO to its portfolio by purchasing 35,168 company shares during the most recent quarter which is valued at $2,009,851. Gigamon Inc makes up approx 0.21% of Engineers Gate Manager Lp’s portfolio.Strs Ohio reduced its stake in GIMO by selling 600 shares or 3.57% in the most recent quarter. The Hedge Fund company now holds 16,200 shares of GIMO which is valued at $891,162.American Capital Management Inc boosted its stake in GIMO in the latest quarter, The investment management firm added 101,870 additional shares and now holds a total of 245,810 shares of Gigamon Inc which is valued at $12,290,500. Gigamon Inc makes up approx 1.03% of American Capital Management Inc’s portfolio.

Gigamon Inc opened for trading at $58.1 and hit $59.4 on the upside on Monday, eventually ending the session at $58.65, with a gain of 1.21% or 0.7 points. The heightened volatility saw the trading volume jump to 5,60,992 shares. Company has a market cap of $2,119 M.

On the company’s financial health, Gigamon Inc reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.31. The company had revenue of $83.50 million for the quarter, compared to analysts expectations of $79.56 million. The company’s revenue was up 47.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

Many Wall Street Analysts have commented on Gigamon Inc. Company shares were Reiterated by Needham on Oct 24, 2016 to “Buy”, Firm has raised the Price Target to $ 58 from a previous price target of $52 .Gigamon Inc was Upgraded by BofA/Merrill to ” Buy” on Oct 13, 2016. Gigamon Inc was Downgraded by Raymond James to ” Mkt Perform” on Oct 5, 2016.

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.

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