Revenue Update on Gigamon Inc(NYSE:GIMO)

Gigamon Inc(NYSE:GIMO) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $75.10M. Analysts estimated a revenue of $70.10M. Earnings per share were $0.30. Analysts had estimated an EPS of $0.24.

In a different note, Northland Securities said it Initiates Coverage on Gigamon Inc, according to a research note issued on Jun 22, 2016. The shares have been rated ‘Outperform’ by the firm.

Gigamon Inc (GIMO) made into the market gainers list on Thursdays trading session with the shares advancing 1.11% or 0.49 points. Due to strong positive momentum, the stock ended at $44.57, which is also near the day’s high of $45.07. The stock began the session at $44.43 and the volume stood at 8,31,842 shares. The 52-week high of the shares is $46.96 and the 52 week low is $18.93. The company has a current market capitalization of $1,557 M and it has 3,49,23,671 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 11, 2016, Mike Burns (Chief Financial Officer) sold 16,000 shares at $40.00 per share price.Also, On May 31, 2016, Sachi Sambandan (Sr. VP Engineering) sold 14,400 shares at $31.03 per share price.On May 31, 2016, Helmut Wilke (Sr. VP Worldwide Sales) sold 8,000 shares at $31.09 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.

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