Royal Bank Of Canada reaffirmed their hold rating on shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) in a research report sent to investors on Friday morning. The firm currently has a $12.75 target price on the technology company’s stock.

BRCD has been the subject of a number of other reports. Robert W. Baird reiterated a hold rating on shares of Brocade Communications Systems in a research note on Friday, August 25th. BidaskClub raised shares of Brocade Communications Systems from a sell rating to a hold rating in a report on Sunday, August 20th. Finally, Zacks Investment Research cut shares of Brocade Communications Systems from a buy rating to a hold rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $12.71.

Brocade Communications Systems (NASDAQ BRCD) opened at 12.03 on Friday. Brocade Communications Systems has a 12-month low of $8.64 and a 12-month high of $12.72. The stock has a 50 day moving average price of $12.20 and a 200-day moving average price of $12.47. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 171.86 and a beta of 0.63.

Brocade Communications Systems (NASDAQ:BRCD) last announced its earnings results on Thursday, August 24th. The technology company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.12. Brocade Communications Systems had a net margin of 1.30% and a return on equity of 5.42%. The business had revenue of $549.00 million during the quarter, compared to analysts’ expectations of $614.10 million. During the same period in the prior year, the company earned $0.21 earnings per share. The firm’s revenue was down 7.1% on a year-over-year basis. Equities analysts predict that Brocade Communications Systems will post $0.61 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th will be paid a $0.055 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.22 annualized dividend and a yield of 1.83%. Brocade Communications Systems’s payout ratio is 314.29%.

Institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in shares of Brocade Communications Systems by 13.8% during the first quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock valued at $148,000 after buying an additional 1,430 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Brocade Communications Systems by 17.6% during the first quarter. Stephens Inc. AR now owns 11,960 shares of the technology company’s stock worth $149,000 after acquiring an additional 1,792 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Brocade Communications Systems by 14.0% during the first quarter. Bank of Montreal Can now owns 13,240 shares of the technology company’s stock worth $166,000 after acquiring an additional 1,629 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Brocade Communications Systems during the second quarter worth $177,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Brocade Communications Systems by 1.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,671 shares of the technology company’s stock worth $196,000 after acquiring an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 83.39% of the company’s stock.

About Brocade Communications Systems

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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