Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Moody's Investors Service ("Moody's") has withdrawn all of Brocade Communications Systems, Inc.'s ratings including its Ba1 Corporate Family rating and rating on its Convertible Notes due 2020. Brocade was acquired by Broadcom Limited in November 2017 and has retired most of its debt. ...
Brocade’s third-quarter fiscal 2017 results were weak as expected as a secular decline in its core SAN storage business was compounded by estimated expenditures related to pending divestitures and restructuring expenses. Brocade anticipates its merger with Broadcom to close during its fiscal fourth-quarter 2017, and received approval from China’s Ministry of Commerce in the quarter. Now it hopes to receive a final nod of approval from the Committee on Foreign Investment in the United States....
The independent financial analyst theScreener just lowered the general evaluation of BROCADE COMMS.SYS.INCO. (US), active in the Telecommunications Equipment industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as moderately risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Neutral. As of the analysis date Novemb...
Brocade’s third-quarter fiscal 2017 results were weak as expected as a secular decline in its core SAN storage business was compounded by estimated expenditures related to pending divestitures and restructuring expenses. Brocade anticipates its merger with Broadcom to close during its fiscal fourth-quarter 2017, and received approval from China’s Ministry of Commerce in the quarter. Now it hopes to receive a final nod of approval from the Committee on Foreign Investment in the United States....
Brocade’s second-quarter fiscal 2017 results were expectedly soft, given secular decline in its core SAN storage portfolio and overall customer hesitation due to the pending merger with Broadcom. On March 12, Extreme Networks and Broadcom jointly announced that Extreme will acquire Brocade’s data center switching and routing portfolio (VDX, MLX, and SLX switching lines), including certain software networking and analytic products for $55 million in cash. On May 12, the European Commission gr...
Synopsis Brocade Communications Systems, Inc. - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360Ëš view of the company. Summary - Detailed information on Brocade Communications Systems, Inc. required for business and competitor intelligence needs - A study of the major internal and external factors affe...
CORPORATES CREDIT OPINION 23 March 2017 Update RATINGS Brocade Communications Systems, Inc. Domicile San Jose, California, United States Long Term Rating Ba1 Type LT Corporate Family Ratings - Dom Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Matthew B. Jones
Brocade started fiscal 2017 on a sour note as steeper-than-expected declines in the company’s core storage area network, or SAN, business were also accompanied by a sharp drop to IP networking sales as customers worried about the uncertainty surrounding the announced divestiture plans for this business. These headwinds were exacerbated by acquisition-related expenses, and the company posted its first net loss of $0.01 per share since the second quarter of 2014. Nonetheless, the pending merger ...
Brocade’s  fiscal 2016 fourth-quarter results were in line with our expectation with revenue coming in above management’s prior guidance and our internal projections. However, the outperformance was largely due to a change in channel revenue recognition methodology that resulted in a $14.4 million revenue increase. More importantly, storage area networking, or SAN, revenue has not recovered and continued to deteriorate, declining 7% from a year ago as fiber channel storage is facing a secul...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Brocade Communications Systems, Inc. (Nasdaq: BRCD) (“Brocade” or the “Company”) relating to the proposed buyout of Brocade by Broadcom Ltd. Under the terms of the agreement, Brocade shareholders are anticipated to receive $12.75 in cash for each share of Brocade common stock held....
Broadcom announced its intention to acquire Brocade Communication Systems in an all-cash transaction for $12.75 per share, or $5.9 billion. The $12.75 share offer is a 13% premium to Brocade’s last closing price of $11.24 per share and a 16% premium to our previous fair value estimate of $11 per share. However, this represents a hefty 42% premium to an average closing price of $8.95 in October. We believe that the deal will pass Brocade’s shareholder approval as well as any regulatory scruti...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Brocade Communications Systems, Inc. (Nasdaq: BRCD) (“Brocade” or the “Company”) relating to the proposed buyout of Brocade by Broadcom Ltd. Under the terms of the agreement, Brocade shareholders are anticipated to receive $12.75 in cash for each share of Brocade common stock held....
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Brocade Communications Systems, Inc. (“Brocade”) (NASDAQ:BRCD) stock prior to November 2, 2016. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Brocade to Broadcom Ltd. (NASDAQ:AVGO) for $12.75 per share. To learn more about the action and your rights, go to: http://zlk.9nl.com/brocade-communications-b...
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of Brocade Communications Systems, Inc. (“Brocade”) (NASDAQ: BRCD) concerning the acquisition by Broadcom Limited. Under the terms of the agreement, valued at approximately $5.9 billion, Brocade shareholders will only receive $12.75 per Brocade share owned. The consideration is lower than at least one analyst’s...
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