Royal Bank Of Canada restated their hold rating on shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) in a report released on Thursday. The brokerage currently has a $12.75 price objective on the technology company’s stock.

A number of other research analysts have also recently commented on the stock. Robert W. Baird reissued a hold rating and issued a $13.00 target price on shares of Brocade Communications Systems in a report on Friday, September 29th. BidaskClub raised shares of Brocade Communications Systems from a sell rating to a hold rating in a report on Sunday, August 20th. Finally, Zacks Investment Research cut shares of Brocade Communications Systems from a buy rating to a hold rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $12.83.

Brocade Communications Systems (BRCD) traded down $0.33 during mid-day trading on Thursday, hitting $12.25. 29,582,846 shares of the stock were exchanged, compared to its average volume of 8,351,292. The company has a market capitalization of $5,069.25, a PE ratio of 38.28, a P/E/G ratio of 2.82 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 has a 52-week low of $11.43 and a 52-week high of $12.72.

Brocade Communications Systems (NASDAQ:BRCD) last posted its earnings results on Thursday, August 24th. The technology company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.12. The firm had revenue of $549.00 million during the quarter, compared to analysts’ expectations of $614.10 million. Brocade Communications Systems had a net margin of 1.30% and a return on equity of 5.42%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. sell-side analysts forecast that Brocade Communications Systems will post 0.36 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in Brocade Communications Systems by 13.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock valued at $148,000 after buying an additional 1,430 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in Brocade Communications Systems in the 2nd quarter valued at approximately $177,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Brocade Communications Systems by 6.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,758 shares of the technology company’s stock valued at $211,000 after buying an additional 1,087 shares during the last quarter. Fulton Bank N.A. raised its holdings in Brocade Communications Systems by 10.2% in the 2nd quarter. Fulton Bank N.A. now owns 20,999 shares of the technology company’s stock valued at $265,000 after buying an additional 1,948 shares during the last quarter. Finally, Brookstone Capital Management bought a new position in Brocade Communications Systems in the 2nd quarter valued at approximately $279,000. Institutional investors and hedge funds own 83.59% of the company’s stock.

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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