Bridge City Capital LLC Has $1.70 Million Position in Gigamon Inc. (GIMO)

Bridge City Capital LLC increased its stake in shares of Gigamon Inc. (NYSE:GIMO) by 8.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,216 shares of the technology company’s stock after purchasing an additional 3,212 shares during the quarter. Gigamon makes up 1.3% of Bridge City Capital LLC’s holdings, making the stock its 24th largest position. Bridge City Capital LLC owned 0.11% of Gigamon worth $1,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of GIMO. Elliott Management Corp acquired a new stake in Gigamon during the second quarter worth about $103,546,000. Alps Advisors Inc. grew its holdings in Gigamon by 0.3% during the second quarter. Alps Advisors Inc. now owns 13,980 shares of the technology company’s stock worth $550,000 after acquiring an additional 36 shares during the period. Rhumbline Advisers grew its holdings in Gigamon by 73.9% during the second quarter. Rhumbline Advisers now owns 65,887 shares of the technology company’s stock worth $2,593,000 after acquiring an additional 28,010 shares during the period. JPMorgan Chase & Co. grew its holdings in Gigamon by 156.7% during the first quarter. JPMorgan Chase & Co. now owns 54,470 shares of the technology company’s stock worth $1,936,000 after acquiring an additional 33,253 shares during the period. Finally, Teachers Advisors LLC grew its holdings in Gigamon by 1.4% during the first quarter. Teachers Advisors LLC now owns 363,290 shares of the technology company’s stock worth $12,915,000 after acquiring an additional 4,973 shares during the period. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Gigamon (NYSE:GIMO) last issued its earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $79.20 million for the quarter, compared to analyst estimates of $84.73 million. Gigamon had a negative return on equity of 0.55% and a negative net margin of 0.32%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS.

In other Gigamon news, Director Ted C. Ho sold 15,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $40.66, for a total value of $609,900.00. Following the transaction, the director now directly owns 16,919 shares of the company’s stock, valued at $687,926.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul B. Shinn sold 2,706 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $39.63, for a total value of $107,238.78. Following the completion of the transaction, the insider now directly owns 32,985 shares in the company, valued at $1,307,195.55. The disclosure for this sale can be found here. Insiders sold a total of 122,706 shares of company stock worth $5,144,239 over the last ninety days. Corporate insiders own 4.50% of the company’s stock.

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Several analysts recently commented on the company. BidaskClub lowered Gigamon from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Gigamon in a report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 target price on shares of Gigamon in a report on Tuesday, September 12th. DA Davidson raised their target price on Gigamon from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Finally, JMP Securities lowered Gigamon from an “outperform” rating to a “market perform” rating in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Gigamon currently has an average rating of “Hold” and an average target price of $45.09.

About Gigamon

Gigamon Inc offers a solution that delivers visibility and control of data-in-motion traversing enterprise, federal and service provider networks. The Company’s Visibility Platform consists of a distributed system of nodes (that in combination establish a Visibility Fabric). The Visibility Platform includes physical appliances and virtual nodes that can be deployed in data centers, central offices, virtualized/private cloud/public cloud environments, and small form-factor remote site appliances, which in combination enable pervasive visibility of network infrastructures.

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Institutional Ownership by Quarter for Gigamon (NYSE:GIMO)

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