Brocade Communications Systems, Inc. (NASDAQ:BRCD) saw strong trading volume on Wednesday . 12,986,348 shares changed hands during trading, an increase of 63% from the previous session’s volume of 7,948,390 shares.The stock last traded at $12.25 and had previously closed at $12.16.

A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of Brocade Communications Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub downgraded shares of Brocade Communications Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Robert W. Baird reissued a “hold” rating and set a $13.00 target price on shares of Brocade Communications Systems in a research report on Friday, September 29th. Finally, 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, September 29th. One equities research analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.71.

The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 172.54 and a beta of 0.63. The firm’s 50 day moving average price is $12.19 and its 200-day moving average price is $12.47.

Brocade Communications Systems (NASDAQ:BRCD) last released its earnings results on Thursday, August 24th. The technology company reported $0.16 earnings per share for the quarter, topping 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 firm had revenue of $549.00 million for the quarter, compared to analyst estimates of $614.10 million. During the same period in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. On average, equities analysts predict that Brocade Communications Systems, Inc. will post $0.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Monday, September 11th were issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Friday, September 8th. Brocade Communications Systems’s dividend payout ratio (DPR) is 314.29%.

Several hedge funds have recently bought and sold shares of BRCD. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Brocade Communications Systems by 0.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 28,557 shares of the technology company’s stock worth $356,000 after purchasing an additional 111 shares during the period. World Asset Management Inc lifted its holdings in shares of Brocade Communications Systems by 0.7% during the second quarter. World Asset Management Inc now owns 28,091 shares of the technology company’s stock worth $354,000 after purchasing an additional 191 shares during the period. Capstone Asset Management Co. lifted its holdings in shares of Brocade Communications Systems by 0.6% during the second quarter. Capstone Asset Management Co. now owns 33,825 shares of the technology company’s stock worth $427,000 after purchasing an additional 200 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Brocade Communications Systems by 6.9% during the second quarter. PNC Financial Services Group Inc. now owns 12,603 shares of the technology company’s stock worth $160,000 after purchasing an additional 811 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of Brocade Communications Systems by 1.7% during the second quarter. Stifel Financial Corp now owns 53,205 shares of the technology company’s stock worth $672,000 after purchasing an additional 900 shares during the period. 83.39% of the stock is owned by institutional investors and hedge funds.

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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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