Carl Domino Inc reduced its position in Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 66.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,250 shares of the technology company’s stock after selling 33,500 shares during the quarter. Carl Domino Inc’s holdings in Brocade Communications Systems were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of BRCD. Wellington Management Group LLP bought a new position in shares of Brocade Communications Systems in the first quarter worth approximately $824,000. PNC Financial Services Group Inc. boosted its position in shares of Brocade Communications Systems by 13.8% during the first quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock worth $148,000 after acquiring an additional 1,430 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of Brocade Communications Systems by 1.7% during the first quarter. New York State Teachers Retirement System now owns 153,275 shares of the technology company’s stock worth $1,913,000 after acquiring an additional 2,500 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Brocade Communications Systems by 0.6% during the second 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 during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Brocade Communications Systems by 4.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 147,172 shares of the technology company’s stock worth $1,856,000 after acquiring an additional 6,301 shares during the last quarter. Institutional investors and hedge funds own 81.35% of the company’s stock.

A number of equities analysts recently weighed in on BRCD shares. Robert W. Baird set a $13.00 target price on shares of Brocade Communications Systems and gave the stock a “hold” rating in a research report on Thursday, August 17th. BidaskClub upgraded shares of Brocade Communications Systems from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Royal Bank Of Canada restated a “hold” rating and set a $12.75 target price on shares of Brocade Communications Systems in a research report on Friday, September 29th. Finally, Zacks Investment Research lowered shares of Brocade Communications Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $12.83.

Brocade Communications Systems, Inc. (BRCD) remained flat at $$12.58 during mid-day trading on Thursday. 5,070,800 shares of the company’s stock were exchanged, compared to its average volume of 5,991,763. Brocade Communications Systems, Inc. has a 1-year low of $11.43 and a 1-year high of $12.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.78 and a quick ratio of 2.66. The firm has a market cap of $5,205.81, a P/E ratio of 39.31, a price-to-earnings-growth ratio of 2.89 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.12. Brocade Communications Systems had a net margin of 1.30% and a return on equity of 5.42%. The business had revenue of $549.00 million during the quarter, compared to analyst estimates of $614.10 million. During the same quarter last year, the business earned $0.21 earnings per share. Brocade Communications Systems’s quarterly revenue was down 7.1% compared to the same quarter last year. analysts anticipate that Brocade Communications Systems, Inc. will post 0.36 EPS for the current fiscal year.

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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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