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Brocade Communications Systems (BRCD) engages in the supply of Internet protocol based Ethernet networking solutions and storage area networking (SAN) solutions to businesses and organizations worldwide.
Its Storage Area Networking Products segment offers include infrastructure products and solutions, such as fiber channel SAN backbones, directors, fabrics, and embedded switches; host bus adapters; and fabric extension, switching, and routing solutions. The companys IP Networking Products segment provides open systems interconnection reference model (OSI) Layer 2 and Layer 3 switches and routers that are designed to connect users in an enterprise network enabling network connectivity, such as access to the Internet, network-based communications, and collaboration through unified messaging applications and mobility. This segment also provides and OSI Layer 47 solutions, which are designed for application traffic management and server load balancing; converged network products; and a portfolio of platforms designed for service provider environments, as well as carrier Ethernet products.
The companys Global Services segment offers break/fix maintenance, installation, consulting, network management and software maintenance, and customer support services. Brocade Communications Systems, Inc. serves various enterprises and service providers, such as telecommunication firms, cable operators, and mobile carriers. The company markets and sells its products and services to end-user customers directly, as well as through various distribution partners, including original equipment manufacturers, distributors, systems integrators, and value-added resellers.
Shares have formed a bullish "flag" following the company's strong quarterly results.
We are now hearing rumors of good news for this company. One of the rumors states that this stock will be named by the leading stock advisory service as one of its "top picks." This service is widely followed by mutual funds and institutional money managers. These investors have portfolios that mimic recommendations of this service. Their naming of the stock should lead to additional demand for the shares.
52-Week Trading Range: $5.14 - $8.04
Entry Point: $7.80
Stop Loss: $7.41
Target Price: $8.58
We are closing BRCD position at $8.17 after its 30-day time period expired. We still believe in the stock.
