Swiss National Bank grew its stake in shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 715,682 shares of the technology company’s stock after buying an additional 15,000 shares during the period. Swiss National Bank owned 172,945.24% of Brocade Communications Systems worth $8,552,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Brocade Communications Systems by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 34,838,927 shares of the technology company’s stock valued at $439,320,000 after buying an additional 642,075 shares in the last quarter. Cowen Inc. lifted its holdings in Brocade Communications Systems by 73.2% in the 2nd quarter. Cowen Inc. now owns 11,363,178 shares of the technology company’s stock worth $143,290,000 after purchasing an additional 4,803,042 shares in the last quarter. Pentwater Capital Management LP lifted its holdings in Brocade Communications Systems by 26.9% in the 2nd quarter. Pentwater Capital Management LP now owns 6,040,000 shares of the technology company’s stock worth $76,164,000 after purchasing an additional 1,280,000 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Brocade Communications Systems by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,433,279 shares of the technology company’s stock worth $68,514,000 after purchasing an additional 227,435 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Brocade Communications Systems by 4.1% in the 2nd quarter. Northern Trust Corp now owns 3,642,521 shares of the technology company’s stock worth $45,933,000 after purchasing an additional 144,390 shares in the last quarter. 83.72% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently commented on BRCD. Zacks Investment Research cut Brocade Communications Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Robert W. Baird reissued a “hold” rating and issued a $13.00 price target on shares of Brocade Communications Systems in a report on Friday, September 29th. BidaskClub cut Brocade Communications Systems from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $12.75 price target on shares of Brocade Communications Systems in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Brocade Communications Systems has an average rating of “Hold” and an average price target of $12.83.

Shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) opened at $12.69 on Tuesday. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 0.58. Brocade Communications Systems, Inc. has a 12 month low of $11.43 and a 12 month high of $12.74. The stock has a market capitalization of $5,267.88, a P/E ratio of 39.78, a price-to-earnings-growth ratio of 2.93 and a beta of 0.54.

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. Brocade Communications Systems had a return on equity of 5.42% and a net margin of 1.30%. The business had revenue of $549.00 million for the quarter, compared to the consensus estimate of $614.10 million. During the same quarter in the previous year, the company posted $0.21 EPS. The company’s revenue was down 7.1% compared to the same quarter last year. sell-side analysts expect that Brocade Communications Systems, Inc. will post 0.36 earnings per share for the current year.

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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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