Brocade Communications Systems, Inc. (NASDAQ:BRCD)‘s stock had its “hold” rating reaffirmed by stock analysts at Royal Bank Of Canada in a report issued on Thursday. They presently have a $12.75 price objective on the technology company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 9.44% from the company’s previous close.

Several other brokerages also recently issued reports on BRCD. Robert W. Baird set a $13.00 price target on Brocade Communications Systems and gave the company a “hold” rating in a report on Thursday, August 17th. BidaskClub upgraded Brocade Communications Systems from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Finally, Zacks Investment Research downgraded Brocade Communications Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating and ten have given a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $12.45.

Brocade Communications Systems (NASDAQ:BRCD) last announced its quarterly earnings results on Thursday, August 24th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.12. Brocade Communications Systems had a return on equity of 5.42% and a net margin of 1.30%. The firm had revenue of $549.00 million during the quarter, compared to the consensus estimate of $614.10 million. During the same period in the prior year, the firm earned $0.21 EPS. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year.

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Several institutional investors have recently made changes to their positions in the company. Private Bank & Trust Co. bought a new position in shares of Brocade Communications Systems during the second quarter worth about $101,000. Acrospire Investment Management LLC lifted its position in shares of Brocade Communications Systems by 20.4% during the third quarter. Acrospire Investment Management LLC now owns 11,211 shares of the technology company’s stock worth $103,000 after purchasing an additional 1,900 shares during the last quarter. Lipe & Dalton bought a new position in shares of Brocade Communications Systems during the second quarter worth about $104,000. Paragon Capital Management Ltd lifted its position in shares of Brocade Communications Systems by 7.9% during the third quarter. Paragon Capital Management Ltd now owns 11,377 shares of the technology company’s stock worth $105,000 after purchasing an additional 832 shares during the last quarter. Finally, Advisors Asset Management Inc. bought a new position in shares of Brocade Communications Systems during the second quarter worth about $111,000. Institutional investors own 83.59% 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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