NEW YORK ( TheStreet) -- Brocade Communications Systems (Nasdaq: BRCD) hit a new 52-week high Wednesday as it is currently trading at $6.47, above its previous 52-week high of $6.45 with 1.4 million shares traded as of 10:30 a.m. ET. Average volume has been 8.2 million shares over the past 30 days.

Brocade Communications Systems has a market cap of $2.82 billion and is part of the technology sector and computer hardware industry. Shares are up 19.3% year to date as of the close of trading on Tuesday.

Brocade Communications Systems, Inc. engages in the supply of Internet protocol based Ethernet networking solutions and storage area networking (SAN) solutions to businesses and organizations worldwide.

  • EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

TheStreet Ratings rates Brocade Communications Systems as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Brocade Communications Systems Ratings Report.

See all 52-week high stocks or get investment ideas from our investment research center.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more..