Stock Traders Buy High Volume of Brocade Communications Systems Call Options (BRCD)
Brocade Communications Systems, Inc. (NASDAQ:BRCD) saw unusually large options trading activity on Friday. Investors purchased 12,939 call options on the stock. This represents an increase of Infinity compared to the typical volume of 0 call options.
Shares of Brocade Communications Systems (NASDAQ:BRCD) opened at $12.25 on Monday. The firm has a market capitalization of $5,069.25, a price-to-earnings ratio of 38.28, a P/E/G ratio of 2.82 and a beta of 0.54. Brocade Communications Systems has a 1-year low of $11.43 and a 1-year high of $12.72. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 0.58.
Brocade Communications Systems (NASDAQ:BRCD) last posted its quarterly earnings data on Thursday, August 24th. The technology company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.12. The business had revenue of $549.00 million during the quarter, compared to the consensus estimate of $614.10 million. Brocade Communications Systems had a return on equity of 5.42% and a net margin of 1.30%. Brocade Communications Systems’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. equities analysts anticipate that Brocade Communications Systems will post 0.36 EPS for the current fiscal year.
BRCD has been the subject of several research analyst reports. BidaskClub downgraded shares of Brocade Communications Systems from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Robert W. Baird reiterated a “hold” rating on shares of Brocade Communications Systems in a report on Friday, August 25th. Zacks Investment Research downgraded Brocade Communications Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $12.75 price objective on shares of Brocade Communications Systems in a report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Brocade Communications Systems presently has a consensus rating of “Hold” and an average target price of $12.83.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its holdings in Brocade Communications Systems by 13.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock worth $148,000 after acquiring an additional 1,430 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in Brocade Communications Systems during the 2nd quarter worth about $177,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Brocade Communications Systems by 6.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,758 shares of the technology company’s stock worth $211,000 after acquiring an additional 1,087 shares during the period. Fulton Bank N.A. grew its holdings in Brocade Communications Systems by 10.2% during the 2nd quarter. Fulton Bank N.A. now owns 20,999 shares of the technology company’s stock worth $265,000 after acquiring an additional 1,948 shares during the period. Finally, Brookstone Capital Management acquired a new stake in Brocade Communications Systems during the 2nd quarter worth about $279,000. Institutional investors and hedge funds own 83.59% of the company’s stock.
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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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