November 30, 2016 - By Louis Casey · 0 Comments
Brocade Communications Systems Inc (NASDAQ:BRCD) institutional sentiment decreased to 0.72 in 2016 Q2. Its down -0.45, from 1.17 in 2016Q1. The ratio dived, as 164 funds increased or started new positions, while 140 trimmed and sold stock positions in Brocade Communications Systems Inc. The funds in our partner’s database reported: 341.47 million shares, up from 340.41 million shares in 2016Q1. Also, the number of funds holding Brocade Communications Systems Inc in their top 10 positions was flat from 0 to 0 for the same number . Sold All: 45 Reduced: 95 Increased: 102 New Position: 62.
Brocade Communications Systems, Inc
The stock decreased 0.32% or $0.04 during the last trading session, hitting $12.36. Brocade Communications Systems, Inc. (NASDAQ:BRCD) has risen 22.86% since April 27, 2016 and is uptrending. It has outperformed by 17.64% the S&P500.
According to Zacks Investment Research, “Brocade Communications Systems, Inc. delivers industry-leading platforms, solutions, and services for intelligently connecting, managing, and optimizing IT resources in shared storage environments. The world’s premier systems, server, and storage providers offer the Brocade SilkWorm family of Storage Area Network connectivity platforms as the foundation for shared storage in organizations of all sizes. In addition, the Brocade Tapestry family of IT infrastructure solutions extends the ability to proactively manage and optimize application and information resources across the enterprise. Using Brocade solutions, organizations are better positioned to reduce cost, manage complexity, and satisfy business compliance requirements through optimized use and management of their IT resources.”
Euclidean Technologies Management Llc holds 2.15% of its portfolio in Brocade Communications Systems, Inc. for 218,267 shares. Evanston Investments Inc. Dba Evanston Advisors owns 718,626 shares or 2.15% of their US portfolio. Moreover, Freestone Capital Holdings Llc has 1.71% invested in the company for 1.90 million shares. The Florida-based Carl Domino Inc has invested 1.24% in the stock. Bowling Portfolio Management Llc, a Ohio-based fund reported 813,062 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 4 selling transactions for $365,646 net activity.
Ratings analysis reveals 16% of Brocade Communications Systems Inc.’s analysts are positive. Out of 19 Wall Street analysts rating Brocade Communications Systems Inc., 3 give it “Buy”, 2 “Sell” rating, while 14 recommend “Hold”. The lowest target is $7.50 while the high is $14. The stock’s average target of $10.69 is -13.51% below today’s ($12.36) share price. BRCD was included in 49 notes of analysts from August 19, 2015. Argus Research upgraded Brocade Communications Systems, Inc. (NASDAQ:BRCD) on Thursday, April 7 to “Buy” rating. The firm has “Sell” rating by UBS given on Friday, August 26. Raymond James upgraded the stock to “Neutral” rating in Wednesday, November 2 report. Citigroup maintained the stock with “Neutral” rating in Friday, August 19 report. The rating was maintained by Citigroup with “Neutral” on Friday, August 26. Goldman Sachs maintained the stock with “Neutral” rating in Friday, May 20 report. Bank of America initiated the stock with “Buy” rating in Wednesday, May 18 report. The firm has “Hold” rating by Wunderlich given on Tuesday, May 3. The firm earned “Sector Perform” rating on Tuesday, November 24 by RBC Capital Markets. The company was upgraded on Friday, August 21 by Goldman Sachs.
Brocade Communications Systems, Inc. (Brocade), incorporated on February 11, 1996, is a supplier of networking equipment, including end-to-end Internet Protocol (IP) Ethernet networking solutions and storage area networking solutions for businesses and organizations of all types and sizes, including global enterprises, and service providers, such as telecommunication firms, cable operators and mobile carriers. Brocade offers a range of networking hardware and software services and products. Brocade services and products are marketed, sold and supported globally to end-user clients through distribution partners, including original equipment manufacturers (OEMs), distributors, systems integrators, value-added resellers (VARs) and directly to end-users by the Brocade direct sales force. The Firm operates in four divisions: Data Storage, Global Services, IP Layer 2-3 and IP Layer 4-7/ Application Delivery Products (IP Layer 4-7/ADP). In September 2014, the Company acquired network visibility and analytics technology assets from privately held Vistapointe.
More important recent Brocade Communications Systems, Inc. (NASDAQ:BRCD) news were published by: Fool.com which released: “Why Brocade Communications Systems, Inc. Stock Jumped Today” on November 02, 2016, also Prnewswire.com published article titled: “Brocade Communications Systems Inc. Acquisition May Not Be in the Best …”, Bloomberg.com published: “Brocade Communications in Advanced Talks to Sell Itself” on October 31, 2016. More interesting news about Brocade Communications Systems, Inc. (NASDAQ:BRCD) was released by: Prnewswire.com and their article: “Harwood Feffer LLP Announces Investigation of Brocade Communications Systems, Inc.” with publication date: November 02, 2016.
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By Louis Casey