Stock Traders Buy High Volume of Brocade Communications Systems Call Options (BRCD)

Brocade Communications Systems, Inc. (NASDAQ:BRCD) was the recipient of unusually large options trading on Friday. Traders bought 12,939 call options on the stock. This represents an increase of Infinity compared to the average daily volume of 0 call options.

Shares of Brocade Communications Systems (NASDAQ BRCD) opened at $12.58 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.78 and a quick ratio of 2.66. Brocade Communications Systems has a 1 year low of $11.43 and a 1 year high of $12.72. The firm has a market cap of $5,218.22, a PE ratio of 39.41, a P/E/G ratio of 2.90 and a beta of 0.54.

Brocade Communications Systems (NASDAQ:BRCD) last posted its quarterly earnings data on Thursday, August 24th. The technology company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.12. The company had revenue of $549.00 million for the quarter, compared to analyst estimates of $614.10 million. Brocade Communications Systems had a net margin of 1.30% and a return on equity of 5.42%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 EPS. equities research analysts predict that Brocade Communications Systems will post 0.36 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in Brocade Communications Systems by 13.8% during the first quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock valued at $148,000 after buying an additional 1,430 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in Brocade Communications Systems in the 2nd quarter valued at about $177,000. Mint Tower Capital Management B.V. acquired a new position in Brocade Communications Systems in the 3rd quarter valued at about $179,000. Jane Street Group LLC acquired a new position in Brocade Communications Systems in the 3rd quarter valued at about $203,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Brocade Communications Systems by 6.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,758 shares of the technology company’s stock valued at $211,000 after purchasing an additional 1,087 shares during the last quarter. 81.35% of the stock is currently owned by institutional investors.

Several equities research analysts have recently commented on the company. Royal Bank Of Canada restated a “hold” rating and issued a $12.75 price objective on shares of Brocade Communications Systems in a research note on Thursday, November 2nd. restated a “hold” rating and issued a $13.00 price objective on shares of Brocade Communications Systems in a research note on Friday, September 29th. upgraded Brocade Communications Systems from a “sell” rating to a “hold” rating in a research note on Sunday, August 20th. Finally, lowered Brocade Communications Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Brocade Communications Systems currently has a consensus rating of “Hold” and an average price target of $12.83.

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Brocade Communications Systems Company Profile

Brocade Communications Systems, Inc (Brocade) 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.

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