Brocade Communications Systems Inc. (NASDAQ:BRCD)‘s stock had its “sell” rating reiterated by equities researchers at Robert W. Baird in a note issued to investors on Thursday.

Several other research analysts have also recently issued reports on BRCD. BMO Capital Markets restated a “hold” rating and issued a $9.00 price objective (up from $8.00) on shares of Brocade Communications Systems in a research note on Sunday, May 29th. Piper Jaffray Cos. set a $9.00 price objective on Brocade Communications Systems and gave the stock a “hold” rating in a research note on Sunday, August 28th. RBC Capital Markets restated a “hold” rating on shares of Brocade Communications Systems in a research note on Sunday, August 28th. Zacks Investment Research cut Brocade Communications Systems from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $10.00 price objective (up from $9.00) on shares of Brocade Communications Systems in a research note on Tuesday, June 14th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.12.

Brocade Communications Systems (NASDAQ:BRCD) opened at 8.94 on Thursday. The company has a market capitalization of $3.58 billion, a P/E ratio of 16.25 and a beta of 0.55. The company’s 50 day moving average price is $9.41 and its 200-day moving average price is $9.29. Brocade Communications Systems has a 52 week low of $7.40 and a 52 week high of $10.94.

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Brocade Communications Systems (NASDAQ:BRCD) last issued its quarterly earnings results on Thursday, August 25th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.05. The business earned $590.72 million during the quarter, compared to the consensus estimate of $573.14 million. Brocade Communications Systems had a return on equity of 12.84% and a net margin of 10.17%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share. Equities research analysts expect that Brocade Communications Systems will post $0.93 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, September 7th. Brocade Communications Systems’s dividend payout ratio (DPR) is currently 39.29%.

In other Brocade Communications Systems news, COO Gale E. England sold 10,000 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $10.19, for a total transaction of $101,900.00. Following the transaction, the chief operating officer now owns 74,568 shares of the company’s stock, valued at $759,847.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ellen Odonnell sold 7,500 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $9.00, for a total value of $67,500.00. Following the transaction, the senior vice president now directly owns 6,118 shares in the company, valued at approximately $55,062. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its position in Brocade Communications Systems by 2.3% in the second quarter. Macquarie Group Ltd. now owns 3,195,561 shares of the company’s stock worth $29,335,000 after buying an additional 71,928 shares during the period. Nomura Holdings Inc. raised its position in shares of Brocade Communications Systems by 1,268.3% in the second quarter. Nomura Holdings Inc. now owns 416,757 shares of the company’s stock valued at $3,813,000 after buying an additional 386,300 shares during the period. Northwestern Mutual Investment Management Company LLC acquired a new position in shares of Brocade Communications Systems during the second quarter valued at approximately $740,000. Mason Street Advisors LLC acquired a new position in shares of Brocade Communications Systems during the second quarter valued at approximately $1,954,000. Finally, Calvert Investment Management Inc. raised its position in shares of Brocade Communications Systems by 29.3% in the second quarter. Calvert Investment Management Inc. now owns 271,399 shares of the company’s stock valued at $2,491,000 after buying an additional 61,503 shares during the period. 87.88% of the stock is currently owned by institutional investors.

Brocade Communications Systems Company Profile

Brocade Communications Systems, Inc 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 has three operating segments: SAN Products, IP Networking Products and Global Services.

5 Day Chart for NASDAQ:BRCD

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