Brocade Communications Systems, Inc. (NASDAQ:BRCD) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Wednesday.

BRCD has been the topic of several other reports. Stifel Nicolaus reiterated a “hold” rating and issued a $12.75 price objective on shares of Brocade Communications Systems in a research note on Friday, May 26th. Zacks Investment Research upgraded Brocade Communications Systems from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, May 31st. Royal Bank Of Canada reiterated a “hold” rating and issued a $12.75 price objective on shares of Brocade Communications Systems in a research note on Friday, June 9th. Finally, Wunderlich reiterated a “sell” rating on shares of Brocade Communications Systems in a research note on Thursday, March 30th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $11.13.

Brocade Communications Systems (NASDAQ BRCD) remained flat at $12.63 on Wednesday. 7,817,687 shares of the company were exchanged. The firm’s 50 day moving average is $12.65 and its 200-day moving average is $12.53. The stock has a market cap of $5.18 billion, a PE ratio of 86.51 and a beta of 0.67. 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 released its quarterly earnings data on Thursday, May 25th. The technology company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.09. Brocade Communications Systems had a return on equity of 8.49% and a net margin of 2.54%. The company had revenue of $552.80 million for the quarter, compared to analyst estimates of $602.92 million. During the same period in the prior year, the company posted $0.22 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that Brocade Communications Systems will post $0.59 EPS for the current fiscal year.

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In other Brocade Communications Systems news, SVP Ken Cheng sold 200,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 252,338 shares in the company, valued at $3,184,505.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ellen Odonnell sold 7,811 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $12.64, for a total transaction of $98,731.04. Following the sale, the senior vice president now 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 276,299 shares of company stock valued at $3,487,050 in the last quarter. 1.77% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in BRCD. Russell Investments Group Ltd. acquired a new stake in Brocade Communications Systems during the fourth quarter worth $1,629,000. Havens Advisors LLC boosted its stake in Brocade Communications Systems by 34.0% in the second quarter. Havens Advisors LLC now owns 560,000 shares of the technology company’s stock worth $7,062,000 after buying an additional 142,000 shares during the last quarter. Kellner Capital LLC boosted its stake in Brocade Communications Systems by 73.3% in the first quarter. Kellner Capital LLC now owns 286,400 shares of the technology company’s stock worth $3,574,000 after buying an additional 121,100 shares during the last quarter. Marshall Wace LLP boosted its stake in Brocade Communications Systems by 1,107.1% in the first quarter. Marshall Wace LLP now owns 1,193,566 shares of the technology company’s stock worth $14,323,000 after buying an additional 1,094,689 shares during the last quarter. Finally, American International Group Inc. boosted its stake in Brocade Communications Systems by 5.0% in the first quarter. American International Group Inc. now owns 814,836 shares of the technology company’s stock worth $10,169,000 after buying an additional 38,496 shares during the last quarter. Institutional investors own 81.72% 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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