Rhumbline Advisers Has $9.62 Million Stake in Brocade Communications Systems, Inc. (BRCD)

Rhumbline Advisers grew its position in Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 11.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 805,396 shares of the technology company’s stock after purchasing an additional 79,895 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Brocade Communications Systems worth $9,624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in BRCD. Capstone Asset Management Co. raised its stake in Brocade Communications Systems by 0.6% during the 2nd quarter. Capstone Asset Management Co. now owns 33,825 shares of the technology company’s stock worth $427,000 after acquiring an additional 200 shares in the last quarter. LS Investment Advisors LLC raised its stake in Brocade Communications Systems by 20.1% during the 2nd quarter. LS Investment Advisors LLC now owns 32,750 shares of the technology company’s stock worth $413,000 after acquiring an additional 5,474 shares in the last quarter. Aperio Group LLC raised its stake in Brocade Communications Systems by 6.7% during the 2nd quarter. Aperio Group LLC now owns 124,362 shares of the technology company’s stock worth $1,568,000 after acquiring an additional 7,804 shares in the last quarter. State Treasurer State of Michigan raised its stake in Brocade Communications Systems by 2.0% during the 2nd quarter. State Treasurer State of Michigan now owns 169,000 shares of the technology company’s stock worth $2,131,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Brocade Communications Systems during the 2nd quarter worth $177,000. Institutional investors and hedge funds own 83.72% of the company’s stock.

Shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) opened at $12.69 on Monday. Brocade Communications Systems, Inc. has a one year low of $11.43 and a one year high of $12.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.66 and a current ratio of 2.78. The company has a market cap of $5,270.00, a price-to-earnings ratio of 39.78, a P/E/G ratio of 2.93 and a beta of 0.54.

Brocade Communications Systems (NASDAQ:BRCD) last announced its quarterly earnings results on Thursday, August 24th. The technology company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ 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 net margin of 1.30% and a return on equity of 5.42%. Brocade Communications Systems’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS. analysts predict that Brocade Communications Systems, Inc. will post 0.36 earnings per share for the current fiscal year.

BRCD has been the topic of several research analyst reports. Royal Bank Of Canada reiterated a “hold” rating and set a $12.75 price target on shares of Brocade Communications Systems in a research note on Friday, September 29th. Robert W. Baird reiterated a “hold” rating on shares of Brocade Communications Systems in a research note on Friday, August 25th. Finally, BidaskClub upgraded shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a research note on Sunday, August 20th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Brocade Communications Systems currently has an average rating of “Hold” and a consensus target price of $12.83.

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Brocade Communications Systems Company 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.

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

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