Boston Partners lowered its stake in Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 13.0% during the second quarter, Holdings Channel reports. The firm owned 10,599,950 shares of the technology company’s stock after selling 1,579,267 shares during the period. Boston Partners’ holdings in Brocade Communications Systems were worth $133,665,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BRCD. Creative Planning increased its stake in Brocade Communications Systems by 27.4% in the first quarter. Creative Planning now owns 11,743 shares of the technology company’s stock valued at $147,000 after buying an additional 2,524 shares during the period. Bank of Montreal Can increased its stake in Brocade Communications Systems by 14.0% in the first quarter. Bank of Montreal Can now owns 13,240 shares of the technology company’s stock valued at $166,000 after buying an additional 1,629 shares during the period. Capstone Asset Management Co. increased its stake in Brocade Communications Systems by 3.0% in the first quarter. Capstone Asset Management Co. now owns 33,625 shares of the technology company’s stock valued at $420,000 after buying an additional 980 shares during the period. Alpha Windward LLC increased its stake in Brocade Communications Systems by 3.8% in the first quarter. Alpha Windward LLC now owns 39,099 shares of the technology company’s stock valued at $488,000 after buying an additional 1,440 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in Brocade Communications Systems by 3.5% in the first quarter. Louisiana State Employees Retirement System now owns 103,000 shares of the technology company’s stock valued at $1,285,000 after buying an additional 3,500 shares during the period. 82.05% of the stock is currently owned by hedge funds and other institutional investors.

Brocade Communications Systems, Inc. (NASDAQ:BRCD) opened at 12.14 on Friday. The firm’s 50-day moving average is $12.56 and its 200-day moving average is $12.52. Brocade Communications Systems, Inc. has a 1-year low of $8.64 and a 1-year high of $12.72. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 83.15 and a beta of 0.66.

Brocade Communications Systems (NASDAQ:BRCD) last announced its earnings results on Thursday, May 25th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09. The business had revenue of $552.80 million during the quarter, compared to analysts’ expectations of $602.92 million. Brocade Communications Systems had a net margin of 2.54% and a return on equity of 8.49%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.22 EPS. On average, equities analysts anticipate that Brocade Communications Systems, Inc. will post $0.58 EPS for the current year.

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Several equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Stifel Nicolaus reissued a “hold” rating and issued a $12.75 target price on shares of Brocade Communications Systems in a research report on Friday, May 26th. Royal Bank Of Canada reissued a “hold” rating and issued a $12.75 target price on shares of Brocade Communications Systems in a research report on Friday, June 9th. Finally, BidaskClub raised shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Two analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $11.13.

In related news, SVP Ken Cheng sold 68,488 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $12.62, for a total transaction of $864,318.56. Following the completion of the sale, the senior vice president now owns 452,338 shares in the company, valued at approximately $5,708,505.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ellen Odonnell sold 7,811 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $12.64, for a total transaction of $98,731.04. Following the sale, the senior vice president now owns 19,037 shares of the company’s stock, valued at approximately $240,627.68. The disclosure for this sale can be found here. Insiders have sold a total of 276,299 shares of company stock valued at $3,487,050 in the last quarter. 1.77% of the stock is currently owned by corporate insiders.

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.

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

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