Traders sold shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) on strength during trading hours on Thursday. $48.68 million flowed into the stock on the tick-up and $80.27 million flowed out of the stock on the tick-down, for a money net flow of $31.59 million out of the stock. Of all equities tracked, Brocade Communications Systems had the 26th highest net out-flow for the day. Brocade Communications Systems traded up $0.15 for the day and closed at $12.73
BRCD has been the subject of a number of recent research reports. Royal Bank Of Canada reissued a “hold” rating and set a $12.75 price objective on shares of Brocade Communications Systems in a report on Thursday, November 2nd. Robert W. Baird reissued a “hold” rating and set a $13.00 price objective on shares of Brocade Communications Systems in a report on Friday, September 29th. BidaskClub raised Brocade Communications Systems from a “sell” rating to a “hold” rating in a report on Sunday, August 20th. Finally, Zacks Investment Research lowered Brocade Communications Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $12.83.
The company has a market capitalization of $5,270.00, a P/E ratio of 39.31, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.78 and a quick ratio of 2.66.
Brocade Communications Systems (NASDAQ:BRCD) last announced its earnings results on Thursday, August 24th. The technology company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $614.10 million. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s revenue was down 7.1% compared to the same quarter last year. research analysts expect that Brocade Communications Systems, Inc. will post 0.36 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System increased its holdings in shares of Brocade Communications Systems by 0.4% in the third quarter. California Public Employees Retirement System now owns 1,436,729 shares of the technology company’s stock worth $17,169,000 after purchasing an additional 5,031 shares during the period. Cubist Systematic Strategies LLC bought a new position in Brocade Communications Systems in the third quarter valued at $297,000. Janus Henderson Group PLC increased its stake in Brocade Communications Systems by 72.9% in the third quarter. Janus Henderson Group PLC now owns 485,060 shares of the technology company’s stock valued at $5,796,000 after acquiring an additional 204,500 shares during the last quarter. Jane Street Group LLC bought a new position in Brocade Communications Systems in the third quarter valued at $203,000. Finally, Magnetar Financial LLC increased its stake in Brocade Communications Systems by 16.5% in the third quarter. Magnetar Financial LLC now owns 11,030,810 shares of the technology company’s stock valued at $131,818,000 after acquiring an additional 1,563,088 shares during the last quarter. Institutional investors and hedge funds own 81.35% of the company’s stock.
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Brocade Communications Systems Company Profile
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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