Hays Advisory LLC cut its position in Brocade Communications Systems Inc. (NASDAQ:BRCD) by 9.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 546,500 shares of the company’s stock after selling 56,724 shares during the period. Hays Advisory LLC owned 0.14% of Brocade Communications Systems worth $5,044,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BRCD. State Street Corp boosted its position in shares of Brocade Communications Systems by 1.1% in the first quarter. State Street Corp now owns 5,810,579 shares of the company’s stock worth $61,474,000 after buying an additional 64,198 shares during the period. BlueMountain Capital Management LLC boosted its position in shares of Brocade Communications Systems by 20.6% in the first quarter. BlueMountain Capital Management LLC now owns 130,612 shares of the company’s stock worth $1,382,000 after buying an additional 22,266 shares during the period. Acadian Asset Management LLC boosted its position in shares of Brocade Communications Systems by 312.5% in the second quarter. Acadian Asset Management LLC now owns 389,796 shares of the company’s stock worth $3,578,000 after buying an additional 295,306 shares during the period. Principal Financial Group Inc. boosted its position in shares of Brocade Communications Systems by 2,109.7% in the second quarter. Principal Financial Group Inc. now owns 1,761,871 shares of the company’s stock worth $16,174,000 after buying an additional 1,682,139 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its position in shares of Brocade Communications Systems by 1.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 97,000 shares of the company’s stock worth $890,000 after buying an additional 1,582 shares during the period. Hedge funds and other institutional investors own 79.76% of the company’s stock.

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

Brocade Communications Systems Inc. (NASDAQ:BRCD) traded down 0.08% during mid-day trading on Monday, hitting $12.37. The stock had a trading volume of 9,161,206 shares. Brocade Communications Systems Inc. has a 12 month low of $7.40 and a 12 month high of $12.46. The firm’s 50-day moving average is $10.23 and its 200 day moving average is $9.33. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 22.49 and a beta of 0.79.

Brocade Communications Systems (NASDAQ:BRCD) last posted its earnings results on Thursday, August 25th. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.05. Brocade Communications Systems had a return on equity of 12.84% and a net margin of 10.17%. The company had revenue of $590.72 million for the quarter, compared to analyst estimates of $573.14 million. During the same quarter last year, the company earned $0.27 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities analysts anticipate that Brocade Communications Systems Inc. will post $0.93 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Monday, December 12th will be issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.78%. Brocade Communications Systems’s dividend payout ratio is presently 39.29%.

Several equities analysts have recently weighed in on BRCD shares. Citigroup Inc. set a $10.00 price objective on Brocade Communications Systems and gave the company a “neutral” rating in a report on Friday, August 19th. Zacks Investment Research upgraded Brocade Communications Systems from a “sell” rating to a “hold” rating in a report on Friday, August 19th. Royal Bank Of Canada lifted their price objective on Brocade Communications Systems from $10.00 to $11.00 and gave the company a “sector perform” rating in a report on Monday, August 22nd. RBC Capital Markets lifted their price objective on Brocade Communications Systems from $10.00 to $11.00 and gave the company a “sector perform” rating in a report on Monday, August 22nd. Finally, Barclays PLC cut their price objective on Brocade Communications Systems from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 23rd. Two investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and two have issued a buy rating to the stock. Brocade Communications Systems currently has an average rating of “Hold” and an average target price of $10.64.

In other news, SVP Ellen Odonnell sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $9.00, for a total value of $67,500.00. Following the transaction, the senior vice president now owns 6,118 shares in the company, valued at $55,062. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

About Brocade Communications Systems

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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