Income Research & Management continued to hold its stake in Brocade Communications Systems, Inc. (NASDAQ:BRCD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 334,000 shares of the technology company’s stock at the close of the second quarter. Brocade Communications Systems makes up about 0.1% of Income Research & Management’s holdings, making the stock its 27th biggest position. Income Research & Management owned approximately 0.08% of Brocade Communications Systems worth $339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Stevens Capital Management LP boosted its position in Brocade Communications Systems by 1.9% in the 2nd quarter. Stevens Capital Management LP now owns 757,117 shares of the technology company’s stock valued at $9,547,000 after buying an additional 13,900 shares during the last quarter. Amalgamated Bank boosted its position in Brocade Communications Systems by 25.6% in the 2nd quarter. Amalgamated Bank now owns 79,805 shares of the technology company’s stock valued at $1,006,000 after buying an additional 16,273 shares during the last quarter. Nationwide Fund Advisors boosted its position in Brocade Communications Systems by 2.2% in the 2nd quarter. Nationwide Fund Advisors now owns 759,584 shares of the technology company’s stock valued at $9,578,000 after buying an additional 16,284 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Brocade Communications Systems by 2.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,432,761 shares of the technology company’s stock valued at $18,068,000 after buying an additional 39,615 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in Brocade Communications Systems by 1.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,322,257 shares of the technology company’s stock valued at $16,674,000 after buying an additional 25,094 shares during the last quarter. Hedge funds and other institutional investors own 83.00% of the company’s stock.

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

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Brocade Communications Systems, Inc. (NASDAQ:BRCD) traded up 0.49% during mid-day trading on Friday, hitting $12.23. The company’s stock had a trading volume of 11,420,123 shares. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 172.25 and a beta of 0.64. Brocade Communications Systems, Inc. has a 52-week low of $8.64 and a 52-week high of $12.72. The firm 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 quarterly earnings data on Thursday, August 24th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.12. The company had revenue of $549.00 million for the quarter, compared to analysts’ expectations of $614.10 million. Brocade Communications Systems had a net margin of 1.30% and a return on equity of 5.42%. The business’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th will be given a dividend of $0.055 per share. The ex-dividend date is Friday, September 8th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.80%. Brocade Communications Systems’s dividend payout ratio (DPR) is presently 314.29%.

Brocade Communications Systems Profile

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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