Stevens Capital Management LP Has $9.55 Million Holdings in Brocade Communications Systems, Inc. (BRCD)

Stevens Capital Management LP boosted its position in shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 757,117 shares of the technology company’s stock after purchasing an additional 13,900 shares during the period. Stevens Capital Management LP owned approximately 0.18% of Brocade Communications Systems worth $9,547,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Amalgamated Bank raised its stake in Brocade Communications Systems by 25.6% during the second quarter. Amalgamated Bank now owns 79,805 shares of the technology company’s stock worth $1,006,000 after purchasing an additional 16,273 shares during the period. Nationwide Fund Advisors raised its stake in Brocade Communications Systems by 2.2% during the second quarter. Nationwide Fund Advisors now owns 759,584 shares of the technology company’s stock worth $9,578,000 after purchasing an additional 16,284 shares during the period. Ameriprise Financial Inc. raised its stake in Brocade Communications Systems by 2.8% during the second quarter. Ameriprise Financial Inc. now owns 1,432,761 shares of the technology company’s stock worth $18,068,000 after purchasing an additional 39,615 shares during the period. TIAA CREF Investment Management LLC raised its stake in Brocade Communications Systems by 1.9% during the second quarter. TIAA CREF Investment Management LLC now owns 1,322,257 shares of the technology company’s stock worth $16,674,000 after purchasing an additional 25,094 shares during the period. Finally, Teachers Advisors LLC raised its stake in Brocade Communications Systems by 8.1% during the second quarter. Teachers Advisors LLC now owns 495,344 shares of the technology company’s stock worth $6,246,000 after purchasing an additional 37,129 shares during the period. 83.00% of the stock is currently owned by institutional investors.

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BRCD has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Brocade Communications Systems from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Wednesday, May 31st. BidaskClub raised shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $12.75 target price on shares of Brocade Communications Systems in a research note on Friday, June 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $12.75 target price on shares of Brocade Communications Systems in a research note on Friday, May 26th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Brocade Communications Systems in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $12.32.

Brocade Communications Systems, Inc. (NASDAQ BRCD) traded up 0.49% during midday trading on Friday, hitting $12.23. 11,420,123 shares of the stock were exchanged. The firm has a 50 day moving average of $12.30 and a 200-day moving average of $12.50. The stock 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 12-month low of $8.64 and a 12-month high of $12.72.

Brocade Communications Systems (NASDAQ:BRCD) last announced its quarterly earnings data on Thursday, August 24th. The technology company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.12. The business had revenue of $549.00 million for the quarter, compared to analyst estimates of $614.10 million. Brocade Communications Systems had a net margin of 1.30% and a return on equity of 5.42%. The company’s revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. On average, equities analysts expect that Brocade Communications Systems, Inc. will post $0.61 earnings per share for the current 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 issued a dividend of $0.055 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.22 annualized dividend and a dividend yield of 1.80%. Brocade Communications Systems’s payout ratio is currently 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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