Breaking: Will Brocade Communications Systems, Inc. Go Down Anytime Soon?

Breaking: Will Brocade Communications Systems, Inc. Go Down Anytime Soon?

The stock of Brocade Communications Systems, Inc. (NASDAQ:BRCD) is a huge mover today! About 3.59 million shares traded hands. Brocade Communications Systems, Inc. (NASDAQ:BRCD) has declined 8.28% since March 1, 2016 and is downtrending. It has underperformed by 17.52% the S&P500.
The move comes after 7 months positive chart setup for the $3.86B company. It was reported on Oct, 4 by Barchart.com. We have $13.25 PT which if reached, will make NASDAQ:BRCD worth $1.51B more.

Brocade Communications Systems, Inc. (NASDAQ:BRCD) Ratings Coverage

Out of 18 analysts covering Brocade Communications Systems Inc. (NASDAQ:BRCD), 5 rate it a “Buy”, 2 “Sell”, while 11 “Hold”. This means 28% are positive. Brocade Communications Systems Inc. has been the topic of 42 analyst reports since August 19, 2015 according to StockzIntelligence Inc. The company was upgraded on Monday, August 24 by Goldman Sachs. Wunderlich downgraded it to “Hold” rating and $9 target price in Tuesday, May 3 report. Citigroup maintained the shares of BRCD in a report on Friday, August 26 with “Neutral” rating. The rating was downgraded by Robert W. Baird on Thursday, July 14 to “Underperform”. The rating was maintained by Wunderlich on Friday, August 26 with “Hold”. Barclays Capital initiated Brocade Communications Systems, Inc. (NASDAQ:BRCD) rating on Wednesday, October 14. Barclays Capital has “Equalweight” rating and $12 price target. As per Thursday, February 18, the company rating was upgraded by Wunderlich. BMO Capital Markets initiated the stock with “Market Perform” rating in Friday, December 11 report. The stock of Brocade Communications Systems, Inc. (NASDAQ:BRCD) earned “Buy” rating by Summit Research on Friday, August 21. The stock of Brocade Communications Systems, Inc. (NASDAQ:BRCD) has “Neutral” rating given on Tuesday, November 24 by JP Morgan.

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.”

Insitutional Activity: The institutional sentiment decreased to 1.17 in Q2 2016. Its down 0.02, from 1.19 in 2016Q1. The ratio dropped, as 45 funds sold all Brocade Communications Systems, Inc. shares owned while 95 reduced positions. 62 funds bought stakes while 102 increased positions. They now own 341.47 million shares or 0.31% more from 340.41 million shares in 2016Q1.
Kennedy Mngmt last reported 0.08% of its portfolio in the stock. Geode Cap Mngmt Limited Liability Com accumulated 0.03% or 5.38 million shares. Legg Mason Asset Mngmt (Japan) Communication has 0.89% invested in the company for 90,700 shares. Guardian Trust Communication last reported 0% of its portfolio in the stock. Bb&T last reported 25,207 shares in the company. Lpl Ltd Liability holds 10,979 shares or 0% of its portfolio. Eqis Cap holds 0.02% or 27,188 shares in its portfolio. Foundry Prtnrs Limited Liability Com holds 0.29% of its portfolio in Brocade Communications Systems, Inc. (NASDAQ:BRCD) for 560,848 shares. Moreover, Bessemer Grp Inc has 0.05% invested in Brocade Communications Systems, Inc. (NASDAQ:BRCD) for 1.02 million shares. Ahl Llp owns 149,142 shares or 0.07% of their US portfolio. Livforsakringsbolaget Skandia Omsesidigt accumulated 0.04% or 88,500 shares. Blackrock Advsr Ltd Company has 0% invested in the company for 257,978 shares. Ig Mngmt Ltd holds 0.04% or 977,680 shares in its portfolio. Nomura last reported 416,757 shares in the company. Deutsche National Bank Ag holds 0.01% or 1.12 million shares in its portfolio.

Insider Transactions: Since June 10, 2016, the stock had 0 insider purchases, and 3 insider sales for $241,510 net activity. England Gale E. sold $101,919 worth of stock. On Friday, June 10 ODONNELL ELLEN sold $72,091 worth of the stock or 8,129 shares.

More recent Brocade Communications Systems, Inc. (NASDAQ:BRCD) news were published by: Benzinga.com which released: “Mid-Morning Market Update: Markets Open Higher; Darden Profit Beats Estimates” on October 04, 2016. Also Fool.com published the news titled: “Why Brocade Communications Systems, Inc. Stock Dropped Today” on August 26, 2016. Prnewswire.com‘s news article titled: “SHAREHOLDER ALERT: Purcell Julie & Lefkowitz LLP Is Investigating Brocade …” with publication date: September 21, 2016 was also an interesting one.

BRCD Company Profile

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.

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