PAIRGAIN TECHNOLOGIES INC /CA/
SC 13G/A, 1997-02-12
TELEPHONE & TELEGRAPH APPARATUS
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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549



                                  SCHEDULE 13G


                   UNDER THE SECURITIES EXCHANGE ACT OF 1934

                           (AMENDMENT NO.     1    )*
                                          ---------


                          PairGain Technologies, Inc.
- --------------------------------------------------------------------------------
                                (Name of Issuer)

                     Common Stock, par value $.001 per share
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   695934109
                  --------------------------------------------
                                 (CUSIP Number)



*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes). 



                              Page 1 of 4 pages



<PAGE>   2
CUSIP No. 695934109                       13G                  Page 2 of 4 Pages



- --------------------------------------------------------------------------------
 1    NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
      A I M Management Group Inc., on behalf of itself and its wholly-owned
      subsidiaries, A I M Advisors, Inc. and A I M Capital Management, Inc.
      I.D. No. 74-1881407

- --------------------------------------------------------------------------------
 2    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*       
                                                             (a) /  /
                                                             (b) /  /

- --------------------------------------------------------------------------------
 3    SEC USE ONLY



- --------------------------------------------------------------------------------
 4    CITIZENSHIP OR PLACE OF ORGANIZATION


      State of Delaware
- --------------------------------------------------------------------------------
                               5     SOLE VOTING POWER

          NUMBER OF                  
                               
           SHARES              -------------------------------------------------
                               6     SHARED VOTING POWER
        BENEFICIALLY           
                               
          OWNED BY                   5,783,200    
                               ------------------------------------------------
            EACH               7     SOLE DISPOSITIVE POWER
                    
          REPORTING                  
                               
           PERSON              ------------------------------------------------
                               8     SHARED DISPOSITIVE POWER                  
            WITH    
                                     5,783,200
        
- ------------------------------------------------------------------------------- 
 9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


        5,783,200
- --------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*



- --------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9


        9.1%
- --------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON*


        HC
- --------------------------------------------------------------------------------



                     *SEE INSTRUCTION BEFORE FILLING OUT!


                              Page 2 of 4 pages



<PAGE>   3
            
                                  SCHEDULE 13G
            
            
            
Item 1(a)        NAME OF ISSUER:
                 PairGain Technologies, Inc.

Item 1(b)        ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
                 14402 Franklin Avenue
                 Tustin, CA  92680-7013

Item 2(a)        NAME OF PERSON FILING:
                 A I M Management Group Inc.

Item 2(b)        ADDRESS OF PRINCIPAL BUSINESS OFFICE: 
                 11 Greenway Plaza, Suite 1919 
                 Houston, Texas  77046

Item 2(c)        CITIZENSHIP:
                 State of Delaware

Item 2(d)        TITLE OF CLASS OF SECURITIES:
                 Common Stock, par value $.001 per share

Item 2(e)        CUSIP Number:
                 695934109

Item 3           TYPE OF REPORTING PERSON:
                 Parent Holding Company, in accordance with section
                 240.13d-1(b)(ii)(G)

Item 4(a)        AMOUNT BENEFICIALLY OWNED AS OF DECEMBER 31, 1996:
                 5,783,200 shares of common stock

Item 4(b)        PERCENT OF CLASS:
                 9.1%

Item 4(c)        DEEMED VOTING POWER AND DISPOSITION POWER:
                 (i)   sole power to vote or to direct the vote: N/A
                 (ii)  shared power to vote or to direct the vote:  5,783,200
                 (iii) sole power to dispose or to direct the disposition of: 
                       N/A
                 (iv)  shared power to dispose or to direct the disposition of:
                       5,783,200

Item 5           OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS: N/A

Item 6           OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
                 ANOTHER PERSON: N/A



                              Page 3 of 4 pages
<PAGE>   4



Item 7             Identification  and  Classification  of  the                 
                   Subsidiary Which  Acquired  the  Security Being              
                   Reported on By the Parent Holding Company: A I  M            
                   Advisors Inc. and  A I M Capital Management,                 
                   Inc., Investment Advisers registered under                   
                   Sectio 203 of the Investment Advisers Act                    
                                                                                
Item 8             Identification and Classification of Members of              
                   the Group: N/A                                               
                                                                                
Item 9             Notice of Dissolution of a Group: N/A                        
                                                                                
Item 10            Certification:                                               
                   By signing  below I  certify that,  to the  best             
                   of  my knowledge  and belief, the  securities                
                   referred  to above were acquired in the ordinary             
                   course of business  and were not acquired for the            
                   purpose of and  do not  have the  effect of                  
                   changing or  influencing the control  of the                 
                   issuer of such  securities and were not acquired             
                   in connection with or  as a participant  in any              
                   transaction having such purposes or effect.                  
                                                                                
                   Signature:                                                   
                   After reasonable  inquiry and to  the best  of my            
                   knowledge and  belief, I  certify that  the                  
                   information set forth in this statement is true,             
                   complete and correct.                                        
                                                                                
                                                                                
                   Date:  February 12, 1997          A I M Management Group Inc.
                                                                                
                                                                                
                                                     /s/ CAROL F. RELIHAN
                                                                                
                                                                                
                                                     Carol F. Relihan           
                                                     Vice President, Secretary  
                                                     and General Counsel        
                                                                                


 ** Please call Sharon Poessel at (713) 214-1126 with questions regarding this
    filing.





                              Page 4 of 4 pages
    


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