Shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) have earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $12.83.

BRCD has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $12.75 target price on shares of Brocade Communications Systems in a research report on Friday, September 29th. Robert W. Baird reaffirmed a “hold” rating and issued a $13.00 target price on shares of Brocade Communications Systems in a research report on Friday, September 29th.

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in shares of Brocade Communications Systems by 6.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 12,603 shares of the technology company’s stock valued at $160,000 after acquiring an additional 811 shares during the period. Mint Tower Capital Management B.V. bought a new position in shares of Brocade Communications Systems in the 3rd quarter valued at about $179,000. Jane Street Group LLC bought a new position in shares of Brocade Communications Systems in the 3rd quarter valued at about $203,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Brocade Communications Systems by 6.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,758 shares of the technology company’s stock valued at $211,000 after acquiring an additional 1,087 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Brocade Communications Systems in the 3rd quarter valued at about $297,000. 83.72% of the stock is owned by institutional investors and hedge funds.

Shares of Brocade Communications Systems (BRCD) traded down $0.04 during trading hours on Friday, hitting $12.69. 1,169,333 shares of the company were exchanged, compared to its average volume of 6,135,863. Brocade Communications Systems has a fifty-two week low of $11.43 and a fifty-two week high of $12.74. The company has a current ratio of 2.78, a quick ratio of 2.66 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $5,270.00, a price-to-earnings ratio of 181.29, a price-to-earnings-growth ratio of 2.93 and a beta of 0.54.

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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.

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