Today: The Brocade Communications Systems Inc. (BRCD) Given Hold Rating at Oppenheimer Holdings Inc.

The Brocade Communications Systems Inc. (BRCD) Given Hold Rating at Oppenheimer Holdings Inc.

Brocade Communications Systems Inc. (NASDAQ:BRCD)‘s stock had its “hold” rating reiterated by investment analysts at Oppenheimer Holdings Inc. in a research report issued to clients and investors on Wednesday.

A number of other analysts have also recently issued reports on BRCD. Raymond James Financial Inc. raised Brocade Communications Systems from an “underperform” rating to a “neutral” rating in a research report on Wednesday, November 2nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Brocade Communications Systems in a research report on Friday, August 26th. RBC Capital Markets reaffirmed a “hold” rating on shares of Brocade Communications Systems in a research report on Sunday, August 28th. Zacks Investment Research raised Brocade Communications Systems from a “sell” rating to a “hold” rating in a research report on Friday, August 19th. Finally, Royal Bank Of Canada raised Brocade Communications Systems from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $11.00 to $14.00 in a research report on Tuesday, November 1st. One equities research analyst has rated the stock with a sell rating, twenty have issued a hold rating and three have issued a buy rating to the stock. Brocade Communications Systems currently has a consensus rating of “Hold” and a consensus target price of $10.90.

Shares of Brocade Communications Systems (NASDAQ:BRCD) traded down 0.88% during mid-day trading on Wednesday, reaching $12.38. The company had a trading volume of 5,748,774 shares. The firm’s 50 day moving average is $10.66 and its 200-day moving average is $9.49. Brocade Communications Systems has a 12-month low of $7.40 and a 12-month high of $12.50. The stock has a market capitalization of $4980.75 billion, a P/E ratio of 24.27 and a beta of 0.79.

Brocade Communications Systems (NASDAQ:BRCD) last issued its quarterly earnings results on Monday, November 21st. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.22 by $0.11. Brocade Communications Systems had a return on equity of 13.42% and a net margin of 9.12%. The firm earned $657.30 million during the quarter, compared to analysts’ expectations of $639.96 million. During the same period in the prior year, the firm posted $0.26 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts expect that Brocade Communications Systems will post $1.01 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Monday, December 12th will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, December 8th. Brocade Communications Systems’s dividend payout ratio (DPR) is 42.31%.

In related news, SVP Ellen Odonnell sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $9.00, for a total transaction of $67,500.00. Following the sale, the senior vice president now owns 6,118 shares of the company’s stock, valued at approximately $55,062. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC purchased a new stake in Brocade Communications Systems during the third quarter valued at $541,000. LPL Financial LLC increased its position in shares of Brocade Communications Systems by 12.2% in the third quarter. LPL Financial LLC now owns 12,318 shares of the company’s stock valued at $117,000 after buying an additional 1,339 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Brocade Communications Systems during the third quarter valued at approximately $271,000. Ameritas Investment Partners Inc. increased its position in shares of Brocade Communications Systems by 64.5% in the third quarter. Ameritas Investment Partners Inc. now owns 121,407 shares of the company’s stock valued at $1,121,000 after buying an additional 47,609 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Brocade Communications Systems during the third quarter valued at approximately $328,000. 79.76% of the stock is currently owned by institutional investors.

Brocade Communications Systems Company Profile

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