Cambridge Investment Research Advisors Inc. cut its stake in Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,460 shares of the technology company’s stock after selling 97 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Brocade Communications Systems were worth $359,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BRCD. Pentwater Capital Management LP bought a new position in shares of Brocade Communications Systems in the first quarter worth about $59,405,000. Cowen Group Inc. grew its holdings in shares of Brocade Communications Systems by 129.5% in the first quarter. Cowen Group Inc. now owns 6,560,136 shares of the technology company’s stock worth $81,870,000 after purchasing an additional 3,701,370 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Brocade Communications Systems by 6.4% in the first quarter. Vanguard Group Inc. now owns 34,196,852 shares of the technology company’s stock worth $426,777,000 after purchasing an additional 2,065,687 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Brocade Communications Systems by 21.0% in the first quarter. Renaissance Technologies LLC now owns 11,301,302 shares of the technology company’s stock worth $141,040,000 after purchasing an additional 1,958,253 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Brocade Communications Systems by 1,107.1% in the first quarter. Marshall Wace LLP now owns 1,193,566 shares of the technology company’s stock worth $14,323,000 after purchasing an additional 1,094,689 shares during the last quarter. Hedge funds and other institutional investors own 83.00% of the company’s stock.

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Shares of Brocade Communications Systems, Inc. (NASDAQ BRCD) opened at 12.23 on Friday. Brocade Communications Systems, Inc. has a 1-year low of $8.64 and a 1-year high of $12.72. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 172.25 and a beta of 0.64. The company has a 50-day moving average of $12.30 and a 200-day moving average of $12.50.

Brocade Communications Systems (NASDAQ:BRCD) last released its earnings results on Thursday, August 24th. The technology company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.12. The company had revenue of $549.00 million during the quarter, compared to the consensus estimate of $614.10 million. Brocade Communications Systems had a return on equity of 5.42% and a net margin of 1.30%. Brocade Communications Systems’s revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. On average, equities research analysts expect that Brocade Communications Systems, Inc. will post $0.61 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Friday, September 8th. Brocade Communications Systems’s dividend payout ratio is currently 314.29%.

BRCD has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Brocade Communications Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Robert W. Baird restated a “hold” rating on shares of Brocade Communications Systems in a report on Friday, August 25th. BidaskClub upgraded shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Stifel Nicolaus restated a “hold” rating and issued a $12.75 price target on shares of Brocade Communications Systems in a report on Friday, May 26th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $12.75 price target on shares of Brocade Communications Systems in a report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Brocade Communications Systems currently has an average rating of “Hold” and a consensus target price of $12.32.

About Brocade Communications Systems

Brocade Communications Systems, Inc (Brocade) 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 operates through three segments: SAN Products, IP Networking Products and Global Services.

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

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