Foundry Partners LLC decreased its stake in Brocade Communications Systems Inc. (NASDAQ:BRCD) by 0.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 560,632 shares of the company’s stock after selling 216 shares during the period. Foundry Partners LLC owned approximately 0.14% of Brocade Communications Systems worth $5,175,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Private Bank & Trust Co. purchased a new stake in Brocade Communications Systems during the second quarter valued at $101,000. Lipe & Dalton purchased a new stake in Brocade Communications Systems during the second quarter valued at $104,000. Advisors Asset Management Inc. purchased a new stake in Brocade Communications Systems during the second quarter valued at $111,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Brocade Communications Systems by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,535 shares of the company’s stock valued at $124,000 after buying an additional 1,683 shares during the period. Finally, Barry Investment Advisors LLC boosted its stake in Brocade Communications Systems by 15.9% in the second quarter. Barry Investment Advisors LLC now owns 13,686 shares of the company’s stock valued at $126,000 after buying an additional 1,875 shares during the period. Institutional investors own 84.43% of the company’s stock.

Institutional Ownership by Quarter for Brocade Communications Systems (NASDAQ:BRCD)

Brocade Communications Systems Inc. (NASDAQ:BRCD) traded up 0.16% during trading on Friday, hitting $12.38. 3,743,081 shares of the stock traded hands. The company has a market cap of $4980.75 billion, a P/E ratio of 21.72 and a beta of 0.79. The firm has a 50-day moving average price of $10.29 and a 200 day moving average price of $9.36. Brocade Communications Systems Inc. has a 52-week low of $7.40 and a 52-week high of $12.46.

Brocade Communications Systems (NASDAQ:BRCD) last announced its quarterly earnings results on Thursday, August 25th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.05. The company had revenue of $590.72 million for the quarter, compared to analysts’ expectations of $573.14 million. Brocade Communications Systems had a net margin of 10.17% and a return on equity of 12.84%. Brocade Communications Systems’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. On average, equities analysts expect that Brocade Communications Systems Inc. will post $0.93 EPS for the current year.

Several brokerages recently issued reports on BRCD. RBC Capital Markets reissued a “hold” rating on shares of Brocade Communications Systems in a research note on Sunday, August 28th. Piper Jaffray Cos. set a $9.00 target price on shares of Brocade Communications Systems and gave the stock a “hold” rating in a research note on Sunday, August 28th. Robert W. Baird reissued an “underperform” rating and set a $9.00 target price (up from $8.00) on shares of Brocade Communications Systems in a research note on Tuesday, November 1st. Argus lowered shares of Brocade Communications Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. Finally, Royal Bank Of Canada lowered shares of Brocade Communications Systems from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $14.00 to $12.75 in a research note on Thursday, November 3rd. Two analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and two have given a buy rating to the company. Brocade Communications Systems currently has a consensus rating of “Hold” and a consensus target price of $10.64.

In other Brocade Communications Systems news, SVP Ellen Odonnell sold 7,500 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $9.00, for a total transaction of $67,500.00. Following the transaction, the senior vice president now owns 6,118 shares in the company, valued at approximately $55,062. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Gale E. England sold 10,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $10.19, for a total transaction of $101,900.00. Following the transaction, the chief operating officer now owns 74,568 shares in the company, valued at approximately $759,847.92. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Brocade Communications Systems Company Profile

Brocade Communications Systems, Inc 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 has three operating segments: SAN Products, IP Networking Products and Global Services.

5 Day Chart for NASDAQ:BRCD

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