Company shares were Reiterated by RBC Capital Mkts on Aug 22, 2016 to "Sector Perform", Firm has raised the Price Target to $ 11 from a previous price target of $10.Shares were Downgraded by Robert W. Baird on Jul 14, 2016 to " Underperform" and Lowered the Price Target to $ 8 from a previous price target of $10.Shares were Reiterated by RBC Capital Mkts on May 20, 2016 to "Sector Perform" and Lowered the Price Target to $ 9 from a previous price target of $10. Following the completion of the transaction, the chief operating officer now directly owns 74,568 shares of the company's stock, valued at approximately $759,847.92. The firm has a SMA 50 (Simple Moving Average) of $53.26 and a SMA 200-(Simple Moving Average) of $54.56. (NASDAQ:BRCD), 3 rate it a "Buy", 2 "Sell", while 10 "Hold". It was also driven by invasions from other public cloud companies.
Accounts receivable of the company changed by $-15.989 million in the annual period ended 2016-07-31.
The company said IP Networking product revenue was up 36% from previous year at $209 million, which included $73 million of product revenue from Ruckus Wireless. (NASDAQ:BRCD) is 9.51 whilst its 200 day moving average is 9.31. The dividend payment will be made on October 3, to stockholders of record at the market close on September 9. News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brocade Communications Systems, Inc. with MarketBeat.com's FREE daily email newsletter. The Corporation has average brokerage recommendation (ABR) of 2.88 based on consensus of the brokerage firms issuing ratings. The stock is now trading at Distance from 20-Day Simple Moving Average of -0.05% while its Distance from 50-Day Simple Moving Average is 6.42 Percent.
In addition to Wunderlich Securities reporting it's stock price target, a total of 15 equity analysts have released a research note on the stock. 17 analysts have rated the company as a "Hold". Analyst had a consensus estimate of $0.22. Private Bank & Trust Co. acquired a new stake in Brocade Communications Systems during the second quarter worth $101,000.
The Brocade Board of Directors has declared a regular third fiscal quarter cash dividend of $0.055 per share of the Company's common stock. Ladenburg Thalmann Financial Services Inc. raised its stake in Brocade Communications Systems by 4.8% in the first quarter. The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell The mean price target for the shares of company is at $59.57 while the highest price target suggested by the analysts is $85.00 and low price target is $45.00. The stock stands almost -5.22% off versus the 52-week high and 39.43% away from the 52-week low. Finally, Raymond James Trust N.A. boosted its position in Brocade Communications Systems by 47.3% in the second quarter. The Hedge Fund company now holds 30,400 shares of BRCD which is valued at $297,616. The disclosure for this sale can be found here. Brocade Communications Systems, Inc. Now the stock has been rated as "Buy" from 15 Analysts. The Company operates in four segments: Data Storage, Global Services, IP Layer 2-3 and IP Layer 4-7/ Application Delivery Products.