Shelton Capital Management maintained its stake in Brocade Communications Systems, Inc. (NASDAQ:BRCD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,009 shares of the technology company’s stock at the end of the 2nd quarter. Shelton Capital Management’s holdings in Brocade Communications Systems were worth $416,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Brocade Communications Systems by 13.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock valued at $148,000 after acquiring an additional 1,430 shares during the last quarter. Stephens Inc. AR boosted its holdings in shares of Brocade Communications Systems by 17.6% during the 1st quarter. Stephens Inc. AR now owns 11,960 shares of the technology company’s stock valued at $149,000 after acquiring an additional 1,792 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Brocade Communications Systems during the 2nd quarter valued at about $177,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Brocade Communications Systems by 6.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,758 shares of the technology company’s stock valued at $211,000 after acquiring an additional 1,087 shares during the last quarter. Finally, Fulton Bank N.A. boosted its holdings in shares of Brocade Communications Systems by 10.2% during the 2nd quarter. Fulton Bank N.A. now owns 20,999 shares of the technology company’s stock valued at $265,000 after acquiring an additional 1,948 shares during the last quarter. 83.39% of the stock is currently owned by hedge funds and other institutional investors.

Brocade Communications Systems, Inc. (NASDAQ BRCD) opened at 12.33 on Wednesday. Brocade Communications Systems, Inc. has a 12-month low of $8.64 and a 12-month high of $12.72. The stock has a market cap of $5.10 billion, a P/E ratio of 173.66 and a beta of 0.63. The company has a 50 day moving average of $12.20 and a 200-day moving average of $12.46.

Brocade Communications Systems (NASDAQ:BRCD) last issued its earnings results on Thursday, August 24th. The technology company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.12. The firm had revenue of $549.00 million for the quarter, compared to analyst estimates 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 for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 earnings per share. Equities analysts forecast that Brocade Communications Systems, Inc. will post $0.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Monday, September 11th were given a $0.055 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.22 dividend on an annualized basis and a yield of 1.78%. Brocade Communications Systems’s dividend payout ratio is currently 314.29%.

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BRCD has been the topic of a number of recent analyst reports. Robert W. Baird set a $13.00 price target on shares of Brocade Communications Systems and gave the company a “hold” rating in a report on Thursday, August 17th. BidaskClub raised shares of Brocade Communications Systems from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $12.75 price target on shares of Brocade Communications Systems in a report on Friday, September 29th. Finally, Zacks Investment Research downgraded shares of Brocade Communications Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company. Brocade Communications Systems presently has an average rating of “Hold” and a consensus price target of $12.45.

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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