Today’s Market Runner: Time to Buy Brocade Communications Systems, Inc. After Today’s Big Increase?

Today's Market Runner: Time to Buy Brocade Communications Systems, Inc. After Today's Big Increase?

The stock of Brocade Communications Systems, Inc. (NASDAQ:BRCD) is a huge mover today! About 17.55M shares traded hands or 302.52% up from the average. Brocade Communications Systems, Inc. (NASDAQ:BRCD) has declined 16.92% since March 29, 2016 and is downtrending. It has underperformed by 20.40% the S&P500.
The move comes after 9 months positive chart setup for the $4.19B company. It was reported on Oct, 31 by Barchart.com. We have $17.12 PT which if reached, will make NASDAQ:BRCD worth $2.68B 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. On Tuesday, January 5 the stock rating was maintained by UBS with “Sell”. The company was upgraded on Friday, August 21 by Goldman Sachs. The rating was maintained by Citigroup on Monday, August 22 with “Neutral”. As per Monday, August 24, the company rating was upgraded by Goldman Sachs. Citigroup maintained Brocade Communications Systems, Inc. (NASDAQ:BRCD) on Friday, August 19 with “Neutral” rating. RBC Capital Markets maintained Brocade Communications Systems, Inc. (NASDAQ:BRCD) on Friday, May 20 with “Sector Perform” rating. The company was initiated on Friday, December 11 by BMO Capital Markets. The stock has “Neutral” rating given by JP Morgan on Tuesday, November 24. On Thursday, February 18 the stock rating was upgraded by Wunderlich to “Buy”. On Tuesday, May 3 the stock rating was downgraded by Wunderlich to “Hold”.

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 is negative, 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.
Quantbot Technology Limited Partnership holds 90,140 shares or 0.09% of its portfolio. The Ohio-based Parkwood Ltd Liability Co has invested 0.07% in Brocade Communications Systems, Inc. (NASDAQ:BRCD). Nj State Employees Deferred Compensation Plan last reported 0.04% of its portfolio in the stock. The Washington-based Fisher Asset Mgmt Lc has invested 0.01% in Brocade Communications Systems, Inc. (NASDAQ:BRCD). Schroder Inv Mgmt Grp Inc reported 1.32 million shares or 0.02% of all its holdings. Moreover, First Interstate Financial Bank has 0.01% invested in Brocade Communications Systems, Inc. (NASDAQ:BRCD) for 2,794 shares. Dnb Asset Mngmt As has 0% invested in the company for 1.93 million shares. Hirtle Callaghan And Limited Liability holds 0% or 2,231 shares in its portfolio. Raymond James Assocs accumulated 386,010 shares or 0.01% of the stock. Ameriprise Inc accumulated 1.24M shares or 0.01% of the stock. Old National Bank & Trust In reported 15,162 shares or 0.01% of all its holdings. Clark Estates Inc Ny has invested 0.51% of its portfolio in Brocade Communications Systems, Inc. (NASDAQ:BRCD). Highbridge Cap Management Llc holds 0.21% of its portfolio in Brocade Communications Systems, Inc. (NASDAQ:BRCD) for 1.42M shares. Zacks Inv Mgmt has 0.01% invested in the company for 21,144 shares. Moreover, Eqis Cap has 0.02% invested in Brocade Communications Systems, Inc. (NASDAQ:BRCD) for 27,188 shares.

Insider Transactions: Since June 10, 2016, the stock had 0 insider purchases, and 3 sales for $241,510 net activity. 10,000 shares were sold by England Gale E., worth $101,919 on Monday, August 22. Shares for $67,500 were sold by ODONNELL ELLEN.

More news for Brocade Communications Systems, Inc. (NASDAQ:BRCD) were recently published by: Profitconfidential.com, which released: “Brocade Communications Systems, Inc.: BRCD Stock Could Soar” on October 12, 2016. Bloomberg.com‘s article titled: “Brocade Communications in Advanced Talks to Sell Itself” and published on October 31, 2016 is yet another important article.

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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