Brocade Communications Systems Inc. (NASDAQ:BRCD)‘s stock had its “hold” rating reiterated by analysts at JMP Securities in a research note issued on Thursday.

Several other analysts have also recently commented on the company. Citigroup Inc. lifted their price objective on Brocade Communications Systems from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Friday, August 26th. BMO Capital Markets reaffirmed a “hold” rating and set a $10.00 price objective on shares of Brocade Communications Systems in a report on Friday, August 26th. Wunderlich reaffirmed a “hold” rating and set a $11.00 price objective (up from $9.00) on shares of Brocade Communications Systems in a report on Friday, August 26th. Deutsche Bank AG lifted their price objective on Brocade Communications Systems from $8.00 to $9.00 and gave the stock a “hold” rating in a report on Friday, August 26th. Finally, RBC Capital Markets lifted their price objective on Brocade Communications Systems from $10.00 to $11.00 and gave the stock a “sector perform” rating in a report on Monday, August 22nd. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $10.06.

Brocade Communications Systems (NASDAQ:BRCD) traded up 1.90% during trading on Thursday, hitting $9.11. The stock had a trading volume of 6,199,603 shares. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 16.56 and a beta of 0.55. The stock’s 50-day moving average is $9.41 and its 200 day moving average is $9.29. Brocade Communications Systems has a one year low of $7.40 and a one year high of $10.94.

Brocade Communications Systems (NASDAQ:BRCD) last posted its quarterly earnings results on Thursday, August 25th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.16 by $0.05. The business earned $590.72 million during the quarter, compared to analysts’ expectations of $573.14 million. Brocade Communications Systems had a return on equity of 12.84% and a net margin of 10.17%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS. Equities analysts anticipate that Brocade Communications Systems will post $0.93 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Wednesday, September 7th. Brocade Communications Systems’s dividend payout ratio is presently 39.29%.

In related news, COO Gale E. England sold 10,000 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $10.19, for a total value of $101,900.00. Following the transaction, the chief operating officer now owns 74,568 shares in the company, valued at $759,847.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Ellen Odonnell sold 7,500 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $9.00, for a total value of $67,500.00. Following the completion of the transaction, the senior vice president now owns 6,118 shares in the company, valued at approximately $55,062. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRCD. Private Bank & Trust Co. acquired a new position in Brocade Communications Systems during the second quarter valued at approximately $101,000. Lipe & Dalton acquired a new position in Brocade Communications Systems during the second quarter valued at approximately $104,000. Advisors Asset Management Inc. acquired a new position in Brocade Communications Systems during the second quarter valued at approximately $111,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Brocade Communications Systems by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,535 shares of the company’s stock valued at $124,000 after buying an additional 1,683 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Brocade Communications Systems by 4.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,848 shares of the company’s stock valued at $125,000 after buying an additional 539 shares during the period. Institutional investors and hedge funds own 87.88% of the company’s stock.

About Brocade Communications Systems

Brocade Communications Systems, Inc 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 has three operating segments: SAN Products, IP Networking Products and Global Services.

5 Day Chart for NASDAQ:BRCD

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