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How to Look at ‘One Microsoft’: Analyst

Microsoft CEO Steve Ballmer's reorganization plan could have an impact on its stock price, Colin Gillis of BGC Partners said Thursday.

"Here's the issue with Microsoft: You only make broad, sweeping changes if something is significantly wrong," he said.

On CNBC's "Fast Money," Gillis noted that the technology company was facing five consecutive quarters of declining PC sales, as well as tough competition in the tablet sector, with its Surface going up against the Apple iPad and Google Android devices.

(Read More: Microsoft CEO Unveils 'One Microsoft' in Broad Shake-Up)

Gillis said that the company's reorganization would be "a major distraction for several months."

(Read More: Microsoft Helped NSA Access Encrypted Messages: Report)

"I do think it's going to fall back to my $31 price target," he added. "At that point, I'll start to look at it again."

Gillis also said that the "One Microsoft" plan would quash investor activism from the likes of ValueAct Capital, despite its $2 billion stock purchase.

(Read More: 2 'Buy' Stocks on Rising Rates)

"That's pretty much over, and the power's consolidated up to the CEO level," he added.

OptionMonster's Jon Najarian said that he was still long on the stock, "still selling calls against it," adding that it was up 30 percent from a Goldman Sachs "sell" rating.

"I love this one," he added.

(Read More: A Microsoft Earnings Shakeup?)

Trader disclosure: On July 11, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long MSFT; Guy Adami is long AGU; Guy Adami is long NUE; Guy Adami is long BTU; Guy Adami's wife, Linda Snow, works at Merck; Jon Najarian is long AAPL; Jon Najarian is long BAC; Jon Najarian is long JPM; Jon Najarian is long QCOM; Jon Najarian is long COP; Jon Najarian is long GLD ; Jon Najarian is long OC; Jon Najarian is long AA; Jon Najarian is long ITUB; Jon Najarian is long WYNN; Jon Najarian is long PAAS; Jon Najarian is long ABX; Jon Najarian is long TOL; Jon Najarian is long LEN; Jon Najarian is long TIBX; Jon Najarian is long TMO; Jon Najarian is short GLD puts; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long C; Karen Finerman is long JPM; Karen Finerman is long TGT; Karen Finerman is long GOOG; Karen Finerman is long PLCE; Karen Finerman is long M; Karen Finerman is long SPY; Karen Finerman is long MDY PUTS ; Karen Finerman is long HRB; Karen Finerman is long MARTINE; Tim Seymour is long C; Tim Seymour is long AAPL; Tim Seymour is long SBUX.

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