Brocade Communications Systems, Inc. (NASDAQ:BRCD) has been given a $13.00 price objective by equities research analysts at Robert W. Baird in a research note issued to investors on Thursday. The brokerage presently has a “hold” rating on the technology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 5.86% from the stock’s previous close.

A number of other equities analysts have also commented on BRCD. BidaskClub raised shares of Brocade Communications Systems from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Royal Bank Of Canada restated a “hold” rating and issued a $12.75 price objective on shares of Brocade Communications Systems in a research note on Friday, June 9th. Zacks Investment Research upgraded shares of 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. Finally, Stifel Nicolaus restated a “hold” rating and issued a $12.75 price objective on shares of Brocade Communications Systems in a research note on Friday, May 26th. One analyst has rated the stock with a sell rating and sixteen have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.13.

Brocade Communications Systems (NASDAQ:BRCD) traded up 0.66% during midday trading on Thursday, reaching $12.28. 6,349,717 shares of the company’s stock traded hands. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 84.11 and a beta of 0.66. The company’s 50-day moving average price is $12.50 and its 200 day moving average price is $12.51. Brocade Communications Systems has a 52 week low of $8.64 and a 52 week 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 EPS for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $552.80 million for the quarter, compared to analyst estimates of $602.92 million. During the same quarter last year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts expect that Brocade Communications Systems will post $0.56 earnings per share for the current year.

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In other Brocade Communications Systems news, SVP Ellen Odonnell sold 7,811 shares of Brocade Communications Systems stock in a transaction on Wednesday, June 14th. The shares were 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 in the company, valued at $240,627.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ken Cheng sold 200,000 shares of Brocade Communications Systems stock in a transaction on Friday, June 9th. The stock was sold at an average price of $12.62, for a total transaction of $2,524,000.00. Following the sale, the senior vice president now owns 252,338 shares in the company, valued at approximately $3,184,505.56. The disclosure for this sale can be found here. Insiders have sold 276,299 shares of company stock worth $3,487,050 in the last quarter. Corporate insiders own 1.77% of the company’s stock.

A number of large investors have recently bought and sold shares of BRCD. Cambridge Investment Research Advisors Inc. increased its stake in Brocade Communications Systems by 0.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 28,557 shares of the technology company’s stock worth $356,000 after buying an additional 111 shares in the last quarter. World Asset Management Inc increased its stake in Brocade Communications Systems by 0.7% in the second quarter. World Asset Management Inc now owns 28,091 shares of the technology company’s stock worth $354,000 after buying an additional 191 shares in the last quarter. Capstone Asset Management Co. increased its stake in Brocade Communications Systems by 0.6% in the second quarter. Capstone Asset Management Co. now owns 33,825 shares of the technology company’s stock worth $427,000 after buying an additional 200 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Brocade Communications Systems by 1.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,671 shares of the technology company’s stock worth $196,000 after buying an additional 295 shares in the last quarter. Finally, Profund Advisors LLC increased its stake in Brocade Communications Systems by 0.6% in the first quarter. Profund Advisors LLC now owns 62,584 shares of the technology company’s stock worth $781,000 after buying an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 81.00% of the company’s stock.

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.

Analyst Recommendations for Brocade Communications Systems (NASDAQ:BRCD)

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