Equities research analysts at DA Davidson started coverage on shares of Brocade Communications Systems Inc. (NASDAQ:BRCD) in a research report issued on Monday. The firm set a “buy” rating and a $12.00 price target on the stock. DA Davidson’s price objective suggests a potential upside of 28.89% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Wunderlich restated a “hold” rating and set a $11.00 price target (up previously from $9.00) on shares of Brocade Communications Systems in a research note on Friday, August 26th. Deutsche Bank AG upped their price target on Brocade Communications Systems from $8.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, August 26th. BMO Capital Markets restated a “hold” rating and set a $10.00 price target on shares of Brocade Communications Systems in a research note on Friday, August 26th. Citigroup Inc. upped their price target on Brocade Communications Systems from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Friday, August 26th. Finally, Royal Bank Of Canada upped their price target on Brocade Communications Systems from $10.00 to $11.00 and gave the stock a “sector perform” rating in a research note on Monday, August 22nd. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $10.17.

Analyst Recommendations for Brocade Communications Systems (NASDAQ:BRCD)

Brocade Communications Systems (NASDAQ:BRCD) traded up 0.87% during midday trading on Monday, reaching $9.31. 5,616,441 shares of the company were exchanged. The company has a 50 day moving average of $9.34 and a 200-day moving average of $9.24. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 16.93 and a beta of 0.74. Brocade Communications Systems has a 52-week low of $7.40 and a 52-week high of $10.94.

Brocade Communications Systems (NASDAQ:BRCD) last issued its quarterly earnings data on Thursday, August 25th. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.05. Brocade Communications Systems had a return on equity of 12.84% and a net margin of 10.17%. The company earned $590.72 million during the quarter, compared to analysts’ expectations of $573.14 million. During the same quarter in the previous year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts anticipate that Brocade Communications Systems will post $0.93 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be given a dividend of $0.055 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.22 annualized dividend and a yield of 2.36%. Brocade Communications Systems’s dividend payout ratio (DPR) is presently 39.29%.

In other news, SVP Ellen Odonnell sold 7,500 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $9.00, for a total value of $67,500.00. Following the transaction, the senior vice president now directly owns 6,118 shares in the company, valued at approximately $55,062. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Gale E. England sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $10.19, for a total value of $101,900.00. Following the completion of the transaction, the chief operating officer now owns 74,568 shares in the company, valued at $759,847.92. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. increased its position in Brocade Communications Systems by 2.3% in the second quarter. Macquarie Group Ltd. now owns 3,195,561 shares of the company’s stock worth $29,335,000 after buying an additional 71,928 shares during the period. Nomura Holdings Inc. increased its position in Brocade Communications Systems by 1,268.3% in the second quarter. Nomura Holdings Inc. now owns 416,757 shares of the company’s stock worth $3,813,000 after buying an additional 386,300 shares during the period. Northwestern Mutual Investment Management Company LLC purchased a new position in Brocade Communications Systems during the second quarter worth approximately $740,000. Mason Street Advisors LLC purchased a new position in Brocade Communications Systems during the second quarter worth approximately $1,954,000. Finally, Calvert Investment Management Inc. increased its position in Brocade Communications Systems by 29.3% in the second quarter. Calvert Investment Management Inc. now owns 271,399 shares of the company’s stock worth $2,491,000 after buying an additional 61,503 shares during the period. Institutional investors own 87.88% of the company’s stock.

Brocade Communications Systems Company Profile

Brocade Communications Systems, Inc is a supplier of networking hardware, software and services, including storage area networking (SAN) solutions, and Internet protocol (IP) networking solutions for businesses and organizations of various types and sizes. The Company has three operating segments: SAN Products, IP Networking Products and Global Services.

5 Day Chart for NASDAQ:BRCD

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