Brocade Communications Systems, Inc. (NASDAQ:BRCD)‘s stock had its “hold” rating reiterated by equities researchers at Robert W. Baird in a research report issued on Friday.

A number of other equities analysts also recently weighed in on BRCD. Stifel Nicolaus reissued a “hold” rating and issued a $12.75 price target on shares of Brocade Communications Systems in a report on Friday, May 26th. Zacks Investment Research raised shares of Brocade Communications Systems from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Wednesday, May 31st. Royal Bank Of Canada reissued a “hold” rating and issued a $12.75 price target on shares of Brocade Communications Systems in a report on Friday, June 9th. Finally, BidaskClub raised shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. One research analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Brocade Communications Systems presently has a consensus rating of “Hold” and an average price target of $12.03.

Shares of Brocade Communications Systems (NASDAQ BRCD) opened at 12.30 on Friday. The company has a 50 day moving average of $12.44 and a 200 day moving average of $12.50. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 173.24 and a beta of 0.66. Brocade Communications Systems has a 1-year low of $8.64 and a 1-year high of $12.72.

Brocade Communications Systems (NASDAQ:BRCD) last posted its earnings results on Thursday, August 24th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.12. The firm had revenue of $549 million during the quarter, compared to analyst estimates of $614.10 million. Brocade Communications Systems had a net margin of 1.30% and a return on equity of 5.40%. The business’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.21 EPS. On average, equities analysts forecast that Brocade Communications Systems will post $0.57 earnings per share for the current fiscal year.

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In other Brocade Communications Systems news, SVP Ken Cheng sold 200,000 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $12.62, for a total transaction of $2,524,000.00. Following the sale, the senior vice president now directly owns 252,338 shares of the company’s stock, valued at $3,184,505.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Ellen Odonnell sold 7,811 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $12.64, for a total transaction of $98,731.04. Following the sale, the senior vice president now directly owns 19,037 shares in the company, valued at $240,627.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,299 shares of company stock worth $3,487,050. Insiders own 1.77% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Brocade Communications Systems by 1.9% in the second quarter. Vanguard Group Inc. now owns 34,838,927 shares of the technology company’s stock valued at $439,320,000 after buying an additional 642,075 shares in the last quarter. Cowen Inc. boosted its stake in shares of Brocade Communications Systems by 73.2% in the second quarter. Cowen Inc. now owns 11,363,178 shares of the technology company’s stock valued at $143,290,000 after buying an additional 4,803,042 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Brocade Communications Systems by 21.0% in the first quarter. Renaissance Technologies LLC now owns 11,301,302 shares of the technology company’s stock valued at $141,040,000 after buying an additional 1,958,253 shares in the last quarter. Cowen Group Inc. boosted its stake in shares of Brocade Communications Systems by 129.5% in the first quarter. Cowen Group Inc. now owns 6,560,136 shares of the technology company’s stock valued at $81,870,000 after buying an additional 3,701,370 shares in the last quarter. Finally, Pentwater Capital Management LP boosted its stake in shares of Brocade Communications Systems by 26.9% in the second quarter. Pentwater Capital Management LP now owns 6,040,000 shares of the technology company’s stock valued at $76,164,000 after buying an additional 1,280,000 shares in the last quarter. 81.00% of the stock is currently owned by institutional investors and hedge funds.

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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