Brocade Communications Systems, Inc

Analysts were unimpressed with the report, however, as JPMorgan Chase lowered its price target to $8.50 from $10, calling it a “disappointing quarter”. The stock’s Dividend stands at 1.52 and Dividend Yield stands at 2.17 Percent. The stock traded down to $10.20 during the day, due to lack of any buying support eventually closed down at $10.21 with a loss of -0.87% for the day. (NASDAQ:BRCD) in the year ended 2017 stands at $0.22 as of 2017-10-31, according to Zacks.

A number of other equities research analysts have also recently commented on BRCD. Brocade stated third quarter revenue of $591 million, up 7% year-over-year and up 13% quarter-over-quarter. The stock is now trading at Distance from 20-Day Simple Moving Average of 6.31% while its Distance from 50-Day Simple Moving Average is 9.52 Percent. Stock’s price oscillated between $16.28 and $16.81 for intra-day trading. Rating Scale; where 1.0 rating means Strong Buy, 2.0 rating signify Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal. Also, the Hold rating count is 2, as of 24 Aug 2016. The company’s 50-day average is $9.51 and its 200-day average is $9.31. In the current trading session, the stock’s price moved 32.37% above from its SMA-200. “Underperform” verdict was shared by 0 analyst and “Overweight” recommendation was issued by 1 analyst. The company markets and sells its products and services to end-user customers directly, as well as through various distribution partners, including original equipment manufacturers, distributors, systems integrators, and value-added resellers.

The firm raised its price target to $9 from $8, citing its better-than-expected third quarter results.

Brocade Communications Systems, Inc.’s (BRCD) stock price showed strong performance of 6.08% in last seven days, switched up 12.57% in last thirty days and it rose 4.65% in last one year. The shares were sold at an average price of $8.87, for a total transaction of $72,104.23. Brocade Communications Systems, Inc. serves various enterprises and service providers, such as telecommunication firms, cable operators, and mobile carriers. The company marked its 52 week high milestone of $10.94 on Oct 9, 2015 while its 52-Week Low was marked on Jan 20, 2016 at $7.4. Barry Investment Advisors LLC boosted its position in Brocade Communications Systems by 15.9% in the second quarter. The disclosure for this sale can be found here. Brocade Communications Systems, Inc. was founded in 1995 and is headquartered in San Jose, California. Raymond James Trust N.A. raised its stake in Brocade Communications Systems by 47.3% in the second quarter. Now the stock has been rated as “Buy” from 15 Analysts. The company reported its last earnings on Jul 25 AMC and will report its next earnings on 26-Oct-16.

Outside of Ruckus, the firm noted that Brocade’s sales remained weak in its storage networking and IP networking segments.