Brocade Communications Systems, Inc. (NASDAQ:BRCD) has been given an average rating of “Hold” by the eighteen analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $11.03.

A number of research analysts recently issued reports on the stock. BidaskClub lowered shares of Brocade Communications Systems from a “hold” rating to a “sell” rating in a research note on Wednesday. Royal Bank Of Canada reiterated a “hold” rating and issued a $12.75 target price on shares of Brocade Communications Systems in a research note on Friday, June 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $12.75 target price on shares of Brocade Communications Systems in a research note on Friday, May 26th. Wunderlich reiterated a “sell” rating on shares of Brocade Communications Systems in a research note on Thursday, March 30th. Finally, Zacks Investment Research upgraded shares of Brocade Communications Systems from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Wednesday, May 31st.

Shares of Brocade Communications Systems (NASDAQ:BRCD) remained flat at $12.63 during mid-day trading on Friday. The company’s stock had a trading volume of 7,817,687 shares. The stock’s 50 day moving average price is $12.65 and its 200-day moving average price is $12.53. The company has a market capitalization of $5.18 billion, a P/E ratio of 86.51 and a beta of 0.67. Brocade Communications Systems has a one year low of $8.64 and a one year high of $12.72.

Brocade Communications Systems (NASDAQ:BRCD) last released its quarterly earnings results on Thursday, May 25th. The technology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. Brocade Communications Systems had a net margin of 2.54% and a return on equity of 8.49%. The business had revenue of $552.80 million for the quarter, compared to the consensus estimate of $602.92 million. During the same quarter last year, the firm earned $0.22 EPS. Brocade Communications Systems’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that Brocade Communications Systems will post $0.59 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Monday, June 12th were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 1.74%. The ex-dividend date was Thursday, June 8th. Brocade Communications Systems’s dividend payout ratio is currently 157.14%.

WARNING: This news story was published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another site, it was stolen and republished in violation of US and international trademark and copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/07/21/brocade-communications-systems-inc-nasdaqbrcd-given-consensus-recommendation-of-hold-by-brokerages.html.

In other Brocade Communications Systems news, SVP Ken Cheng sold 68,488 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $12.62, for a total value of $864,318.56. Following the completion of the transaction, the senior vice president now directly owns 452,338 shares of the company’s stock, valued at $5,708,505.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Ellen Odonnell sold 7,811 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $12.64, for a total transaction of $98,731.04. Following the completion of the transaction, the senior vice president now directly owns 19,037 shares of the company’s stock, valued at $240,627.68. The disclosure for this sale can be found here. Insiders have sold a total of 276,299 shares of company stock valued at $3,487,050 over the last three months. 1.77% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Creative Planning increased its position in shares of Brocade Communications Systems by 27.4% in the first quarter. Creative Planning now owns 11,743 shares of the technology company’s stock worth $147,000 after buying an additional 2,524 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Brocade Communications Systems by 13.8% in the first quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock worth $148,000 after buying an additional 1,430 shares in the last quarter. Stephens Inc. AR increased its position in shares of Brocade Communications Systems by 17.6% in the first quarter. Stephens Inc. AR now owns 11,960 shares of the technology company’s stock worth $149,000 after buying an additional 1,792 shares in the last quarter. Bank of Montreal Can increased its position in shares of Brocade Communications Systems by 14.0% in the first quarter. Bank of Montreal Can now owns 13,240 shares of the technology company’s stock worth $166,000 after buying an additional 1,629 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Brocade Communications Systems during the second quarter worth $177,000. 81.72% of the stock is owned by institutional investors.

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)

Receive News & Ratings for Brocade Communications Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brocade Communications Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.