Brocade Communications Systems (NASDAQ:BRCD) has climbed 1.24% in the past week and advanced 12.67% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 2.45% and the outperformance has advanced to 11.64% for the last 4 weeks period.
Brocade Communications Systems (NASDAQ:BRCD): The stock opened at $9.03 on Friday but the bulls could not build on the opening and the stock topped out at $9.08 for the day. The stock traded down to $8.85 during the day, due to lack of any buying support eventually closed down at $8.98 with a loss of -0.55% for the day. The stock had closed at $9.03 on the previous day. The total traded volume was 10,169,554 shares.
The company shares have dropped -29.01% from its 1 Year high price. On Jun 24, 2015, the shares registered one year high at $12.88 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $8.52 and the 200 Day Moving Average price is recorded at $9.03.
On the companys insider trading activities, Odonnell Ellen, officer (SVP & General Counsel) of Brocade Communications Systems Inc, unloaded 8,129 shares at an average price of $8.87 on June 10, 2016. The total amount of the transaction was worth $72,104, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Goldman Sachs maintains the rating on Brocade Communications Systems (NASDAQ:BRCD). The brokerage firm has issued a Neutral rating on the shares. The Analysts at the ratings agency lowers the price target from $10 per share to $9 per share. The rating by the firm was issued on May 20, 2016. Currently the company Insiders own 1.6% of Brocade Communications Systems shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -6.34% . Institutional Investors own 73.57% of Brocade Communications Systems shares. During last six month period, the net percent change held by insiders has seen a change of -11.92%.
Brocade Communications Systems, Inc. (Brocade) is a supplier of networking equipment, including end-to-end Internet Protocol-based 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 networking hardware and software products and services. Its products and services are marketed, sold and supported globally to end-user customers through distribution partners, including original equipment manufacturers, distributors, systems integrators, value-added resellers and directly to end-users by the Brocade direct sales force. The Company operates in four segments: Data Storage, Global Services, IP Layer 2-3 and IP Layer 4-7/ Application Delivery Products.