How BMO Capital Markets Currently Rates Brocade Communications Systems Inc (NASDAQ:BRCD)
The brokerage firm BMO Capital Markets has commenced coverage coverage on Brocade Communications Systems Inc (NASDAQ:BRCD)’s stock, rating it Market Perform. This was distributed to Clients in an analyst research report on 11 December.
From a total of 15 analysts covering Brocade Communications Systems Inc. (NASDAQ:BRCD) stock, 3 rate it a ”Buy”, 1 a “Sell”, and 17 a ”Hold”. This means that 14% of the ratings are positive. The highest target price is $14 while the lowest target price is $9. The mean of all analyst targets is $10.87 with a 26.45% above today’s ($8.77) stock price. Brocade Communications Systems Inc. was the topic of 16 analyst reports since August 19, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on November 24 with “Sector Perform” rating. Summit Research upgraded shares to “Buy” rating and $14 target share price in a report from an August 21. Barclays Capital initiated BRCD stock in a recent report from October 14 with “Equalweight” rating. Finally, Goldman Sachs upgraded the stock to “Neutral” rating in a report issued on an August 24.
Approximately 2.29M shares of stock traded hands. Brocade Communications Systems, Inc. (NASDAQ:BRCD) has declined 26.48% since May 8, 2015 and is downtrending. It has underperformed by 23.46% the S&P500.
The overall sentiment of institutions has increased to 0.92 in Q2 2015. Its up 0.03, from 0.89 in 2015Q2. The ratio increased, as 47 institutions have sold all the shares of Brocade Communications Systems, Inc. that they owned while 108 funds have taken shares off the table. 44 funds have purchased shares for the first time while 98 added to their positions. These institutions now hold 367.03 million shares or 1.32% more than the 362.23 million shares they owned in 2015Q2.
The Fund Strategic Global Advisors Llc currently is holding shares equating to 2.23% of its total portfolio in Brocade Communications Systems, Inc. representing a total of 449,831 shares. Another fund,Freestone Capital Holdings Llc, is holding a total of 1.63 million shares equating to 1.84% of their holdings. Additionally, Anderson Hoagland & Co has a 274,020 share stake in Brocade Communications Systems, Inc. which represents 1.81% of their total portfolio. The Fund, Marque Millennium Capital Management Lcc, based out of New York, has also built up a stake in the stock, which represents a total of 1.81% of their total portfolio. Finally Paradigm Capital Management Inc Ny, a fund which is based in the state of New York reported a total holdings of 1.08 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 6, 2015, shareholders of Brocade Communications Systems, Inc. have witnessed 0 insider buys, and a total of 3 insider sales equating to a net activity of approximately $1.31 million . England Gale E. sold 10,000 shares worth approximately $124,753. Gerdelman John W sold 80,000 shares worth approximately $991,864. Odonnell Ellen sold 15,627 shares worth approximately $189,849. Krause L William sold 20,000 shares worth approximately $247,470. The company insider Dipentima Renato A sold 7,500 shares worth $92,783.
Brocade Communications Systems, Inc
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.” Get a free copy of the Zacks research report on Brocade Communications Systems, Inc. (BRCD).