There has been some selling insider activity on Brocade Communications Systems, (NASDAQ:BRCD) recently. Ken Cheng, CTO and SVP, Corporate Develop disclosed the sale of 68,488 shares. The shares were sold on June 8th for an average price of $12.62. The CTO and SVP, Corporate Develop now owns $5,708,506 of the stock per the Form 4 SEC filing. Lloyd Carney, CEO disclosed the sale of 1,050,916 shares of (BRCD). The shares were purchased at an average price of $12.47. Carney now owns $4,140,788 of the stock according to the SEC filing.
COO Gale E. England disclosed the sale of 463,062 shares of BRCD stock. The shares were sold on March 15th for an average price of $12.38. England now owns $0 of the stock per the Form 4 SEC filing.
Brocade Communications Systems, Inc. (Brocade), launched on February 11, 1999, is a supplier of networking hardware, software and services, including storage area networking (SAN) solutions and Internet protocol (IP) networking solutions, for businesses and organizations of various types and sizes. The Company operates through three segments: SAN Products, IP Networking Products and Global Services. The Company offers a line of networking hardware and software products and services. Brocade markets, sells and supports its products and services across the world to the end user customers through distribution partners, including original equipment manufacturers (OEMs), distributors, systems integrators and value-added resellers (VARs). The Business’s products enable customers to deploy architectures and technologies, including virtualization, cloud computing, software-defined networking (SDN), network functions virtualization (NFV), and network visibility and analytics (NVA)..
These funds have also shifted positions in (BRCD). Morgan Stanley trimmed its investment by selling 550 shares a decrease of 4.0% in the quarter. Morgan Stanley now holds 13,265 shares valued at $166,000. The total value of its holdings decreased 4.0%. As of the end of the quarter Winton Group Ltd had bought 15,817 shares growing its stake by 55.3%. The value of the total investment in Brocade Communications Systems, increased from $357,000 to $555,000 a change of 55.5% since the last quarter.
Tower Research Capital LLC (trc) divested its position by shedding 1,594 shares a decrease of 88.9%. Tower Research Capital LLC (trc) owns 200 shares worth $2,000. The value of the position overall is down by 90.9%. Nomura Holdings Inc added to its holdings by buying 19,379 shares an increase of 3.7% as of 03/31/2017. Nomura Holdings Inc controls 541,811 shares with a value of $6,755,000. The value of the position overall is up by 3.5%.
On November 3, 2016 the stock rating was set at “Neutral” according to a Wunderlich report down from the previous “Hold” rating. On November 3 the stock rating was downgraded to “Sector Perform” from “Buy” by DA Davidson.
On November 3 the company was downgraded from “Outperform” to “Sector Perform” in a report from RBC Capital. On November 2 the company was rated “Hold” in a report from Raymond James which was a boost from the previous “” rating.
On November 2 the stock rating was downgraded to “Hold” from “Buy” in a report issued by Argus Research. On November 1 the company was upgraded from “Outperform” to “Outperform” by analysts at RBC Capital.
The company is now up by 0.16 percent from yesterday’s close. Additionally the company declared a dividend to be paid on Wednesday the 5th of July 2017. The dividend payment will be $0.055 per share for the quarter which comes to $0.22 on an annualized basis. The dividend yield will be $1.74. The ex-dividend date is set for Thursday the 8th of June 2017.
Company shares last traded at $12.64 which is just a bit higher than $12.62, the stock’s 50 day moving average and which is slightly above the 200 day moving average of $12.48. The 50 day moving average went up $0.02 or +0.130% whereas the 200 day average was up by +1.240%.
Brocade Communications Systems,’s P/E ratio is 86.541 and market cap is 5.18B. As of the last earnings report the EPS was $0.15 and is projected to be $0.59 for the current year with 410,044,000 shares presently outstanding. Next quarter’s EPS is estimated at $0.20 with next year’s EPS anticipated to be $0.83.
Investors are a little more bullish on shares of Brocade Communications Systems, lately as evidenced by the downtick in short interest. The company saw a fall in short interest of -6.77% as of April 28, 2017 from the last reporting period. Short shares fell 2,220,872 over that timeframe. With short interest at 30,563,737 and short average daily volume at 4,938,477, days to cover is 6.2 and the percentage of shorted shares was 0.07% on April 28.