Shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) have received an average rating of “Hold” from the twenty-two brokerages that are currently covering the company. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $10.32.

A number of equities research analysts recently weighed in on the stock. TheStreet cut shares of Brocade Communications Systems from a “b” rating to a “c” rating in a research note on Friday, February 24th. Robert W. Baird restated a “hold” rating on shares of Brocade Communications Systems in a research note on Tuesday, November 22nd. Finally, Zacks Investment Research upgraded shares of Brocade Communications Systems from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Thursday, November 24th.

In other Brocade Communications Systems news, SVP Ellen Odonnell sold 6,345 shares of the business’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $12.37, for a total value of $78,487.65. Following the sale, the senior vice president now directly owns 11,226 shares in the company, valued at $138,865.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in shares of Brocade Communications Systems by 3.9% in the third quarter. Nordea Investment Management AB now owns 172,400 shares of the company’s stock valued at $1,591,000 after buying an additional 6,400 shares during the period. World Asset Management Inc boosted its stake in shares of Brocade Communications Systems by 13.7% in the third quarter. World Asset Management Inc now owns 28,677 shares of the company’s stock valued at $265,000 after buying an additional 3,466 shares during the period. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Brocade Communications Systems by 506.7% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 357,273 shares of the company’s stock valued at $3,297,000 after buying an additional 298,384 shares during the period. Barry Investment Advisors LLC boosted its stake in shares of Brocade Communications Systems by 14.9% in the third quarter. Barry Investment Advisors LLC now owns 15,728 shares of the company’s stock valued at $145,000 after buying an additional 2,042 shares during the period. Finally, Regis Management CO LLC boosted its stake in shares of Brocade Communications Systems by 14.6% in the third quarter. Regis Management CO LLC now owns 156,981 shares of the company’s stock valued at $1,449,000 after buying an additional 20,000 shares during the period. Hedge funds and other institutional investors own 80.06% of the company’s stock.

Shares of Brocade Communications Systems (NASDAQ:BRCD) opened at 12.47 on Tuesday. Brocade Communications Systems has a one year low of $7.60 and a one year high of $12.54. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 45.68 and a beta of 0.88. The firm has a 50-day moving average of $12.39 and a 200 day moving average of $11.33.

Brocade Communications Systems (NASDAQ:BRCD) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by $0.10. Brocade Communications Systems had a net margin of 9.12% and a return on equity of 13.41%. The company had revenue of $581.46 million for the quarter, compared to the consensus estimate of $649.89 million. During the same quarter in the prior year, the firm earned $0.29 earnings per share. Brocade Communications Systems’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts predict that Brocade Communications Systems will post $0.87 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 4th. Shareholders of record on Friday, March 10th will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, March 8th. Brocade Communications Systems’s dividend payout ratio (DPR) is presently 42.31%.

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Brocade Communications Systems Company Profile

Brocade Communications Systems, Inc (Brocade) 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 operates through three segments: SAN Products, IP Networking Products and Global Services.

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