BidaskClub lowered shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) from a sell rating to a strong sell rating in a report released on Monday.

A number of other equities research analysts have also recently commented on BRCD. Zacks Investment Research cut shares of Brocade Communications Systems from a buy rating to a hold rating in a research report on Tuesday, July 25th. Royal Bank Of Canada reissued a hold rating and set a $12.75 target price on shares of Brocade Communications Systems in a research report on Friday, June 9th. Finally, Stifel Nicolaus reissued a hold rating and set a $12.75 target price on shares of Brocade Communications Systems in a research report on Friday, May 26th. Two research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. Brocade Communications Systems currently has an average rating of Hold and an average target price of $11.13.

Brocade Communications Systems (BRCD) traded down 1.27% during trading on Monday, reaching $12.43. The company had a trading volume of 28,464,097 shares. The firm’s 50 day moving average price is $12.64 and its 200 day moving average price is $12.53. The firm has a market capitalization of $5.10 billion, a PE ratio of 88.79 and a beta of 0.66. Brocade Communications Systems has a 12-month low of $8.64 and a 12-month high of $12.72.

Brocade Communications Systems (NASDAQ:BRCD) last posted its earnings results on Thursday, May 25th. The technology company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.09. Brocade Communications Systems had a negative net margin of 2.00% and a negative return on equity of 1.71%. The company had revenue of $552.80 million during the quarter, compared to analysts’ expectations of $602.92 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. Brocade Communications Systems’s revenue for the quarter was up 5.6% compared to the same quarter last year. Equities research analysts forecast that Brocade Communications Systems will post $0.58 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Monday, June 12th were paid a $0.055 dividend. The ex-dividend date of this dividend was Thursday, June 8th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.77%. Brocade Communications Systems’s payout ratio is currently 157.14%.

In other news, SVP Ellen Odonnell sold 7,811 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $12.64, for a total value of $98,731.04. Following the sale, the senior vice president now owns 19,037 shares in the company, valued at $240,627.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ken Cheng sold 200,000 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $12.62, for a total transaction of $2,524,000.00. Following the completion of the sale, the senior vice president now owns 252,338 shares in the company, valued at approximately $3,184,505.56. The disclosure for this sale can be found here. Insiders sold 276,299 shares of company stock worth $3,487,050 in the last quarter. Company insiders own 1.77% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in BRCD. Profund Advisors LLC raised its stake in Brocade Communications Systems by 0.6% in the first quarter. Profund Advisors LLC now owns 62,584 shares of the technology company’s stock worth $781,000 after buying an additional 380 shares during the last quarter. Havens Advisors LLC raised its stake in Brocade Communications Systems by 207.4% in the first quarter. Havens Advisors LLC now owns 418,000 shares of the technology company’s stock worth $5,217,000 after buying an additional 282,000 shares during the last quarter. Nationwide Fund Advisors raised its stake in Brocade Communications Systems by 2.0% in the first quarter. Nationwide Fund Advisors now owns 743,300 shares of the technology company’s stock worth $9,276,000 after buying an additional 14,628 shares during the last quarter. Retirement Systems of Alabama raised its stake in Brocade Communications Systems by 1.3% in the first quarter. Retirement Systems of Alabama now owns 526,346 shares of the technology company’s stock worth $6,569,000 after buying an additional 6,809 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Brocade Communications Systems during the first quarter worth $1,591,000. Hedge funds and other institutional investors own 81.93% of the company’s stock.

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.

Analyst Recommendations for Brocade Communications Systems (NASDAQ:BRCD)

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