Nomura Holdings Inc. increased its stake in Brocade Communications Systems Inc. (NASDAQ:BRCD) by 1,268.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 416,757 shares of the company’s stock after buying an additional 386,300 shares during the period. Nomura Holdings Inc. owned about 0.10% of Brocade Communications Systems worth $3,813,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Private Bank & Trust Co. bought a new stake in Brocade Communications Systems during the second quarter valued at $101,000. Lipe & Dalton bought a new stake in Brocade Communications Systems during the second quarter valued at $104,000. Advisors Asset Management Inc. bought a new stake in Brocade Communications Systems during the second quarter valued at $111,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Brocade Communications Systems by 14.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,535 shares of the company’s stock valued at $124,000 after buying an additional 1,683 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in Brocade Communications Systems by 4.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,848 shares of the company’s stock valued at $125,000 after buying an additional 539 shares during the last quarter. 88.12% of the stock is owned by institutional investors.

Shares of Brocade Communications Systems Inc. (NASDAQ:BRCD) opened at 8.945 on Monday. The company has a 50 day moving average of $9.46 and a 200-day moving average of $9.33. The company has a market capitalization of $3.59 billion, a P/E ratio of 16.264 and a beta of 0.55. Brocade Communications Systems Inc. has a 12-month low of $7.40 and a 12-month high of $10.94.

Brocade Communications Systems (NASDAQ:BRCD) last announced its quarterly earnings data on Thursday, August 25th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.05. Brocade Communications Systems had a net margin of 10.17% and a return on equity of 12.84%. The company earned $590.72 million during the quarter, compared to analysts’ expectations of $573.14 million. During the same quarter in the prior year, the company posted $0.27 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that Brocade Communications Systems Inc. will post $0.93 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Wednesday, September 7th. Brocade Communications Systems’s dividend payout ratio is 39.29%.

BRCD has been the subject of several research analyst reports. Argus reissued a “buy” rating and issued a $13.00 target price on shares of Brocade Communications Systems in a research report on Wednesday, August 31st. Barclays PLC dropped their target price on shares of Brocade Communications Systems from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 23rd. BMO Capital Markets reissued a “hold” rating and issued a $9.00 target price (up previously from $8.00) on shares of Brocade Communications Systems in a research report on Sunday, May 29th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Brocade Communications Systems in a research report on Sunday, May 22nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Brocade Communications Systems in a report on Sunday, May 22nd. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $10.12.

In other news, SVP Ellen Odonnell sold 7,500 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $9.00, for a total value of $67,500.00. Following the completion of the transaction, the senior vice president now owns 6,118 shares in the company, valued at approximately $55,062. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Gale E. England sold 10,000 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $10.19, for a total transaction of $101,900.00. Following the completion of the transaction, the chief operating officer now owns 74,568 shares of the company’s stock, valued at approximately $759,847.92. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Brocade Communications Systems Company Profile

Brocade Communications Systems, Inc 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 has three operating segments: SAN Products, IP Networking Products and Global Services.

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