NJ State Employees Deferred Compensation Plan held its stake in shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,572 shares of the technology company’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in Brocade Communications Systems were worth $272,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of Brocade Communications Systems by 0.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 28,557 shares of the technology company’s stock valued at $356,000 after buying an additional 111 shares in the last quarter. Capstone Asset Management Co. boosted its stake in Brocade Communications Systems by 0.6% in the second quarter. Capstone Asset Management Co. now owns 33,825 shares of the technology company’s stock worth $427,000 after buying an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Brocade Communications Systems by 1.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,671 shares of the technology company’s stock worth $196,000 after buying an additional 295 shares during the period. Profund Advisors LLC boosted its stake in Brocade Communications Systems by 0.6% in the first quarter. Profund Advisors LLC now owns 62,584 shares of the technology company’s stock worth $781,000 after buying an additional 380 shares during the period. Finally, Fulton Bank N.A. boosted its stake in Brocade Communications Systems by 2.2% in the first quarter. Fulton Bank N.A. now owns 19,051 shares of the technology company’s stock worth $238,000 after buying an additional 411 shares during the period. 82.05% of the stock is currently owned by institutional investors.

Brocade Communications Systems, Inc. (BRCD) opened at 12.05 on Thursday. Brocade Communications Systems, Inc. has a 52 week low of $8.64 and a 52 week high of $12.72. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 82.53 and a beta of 0.66. The company has a 50-day moving average of $12.59 and a 200-day moving average of $12.53.

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

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A number of equities research analysts have recently commented on the company. Stifel Nicolaus restated a “hold” rating and set a $12.75 target price on shares of Brocade Communications Systems in a research report on Friday, May 26th. Zacks Investment Research cut Brocade Communications Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. BidaskClub cut Brocade Communications Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Finally, 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, June 9th. Two research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. Brocade Communications Systems currently has an average rating of “Hold” and an average target price of $11.13.

In other Brocade Communications Systems news, SVP Ellen Odonnell sold 7,811 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $12.64, for a total value of $98,731.04. Following the sale, the senior vice president now owns 19,037 shares of the company’s stock, valued at $240,627.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ken Cheng sold 200,000 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $12.62, for a total transaction of $2,524,000.00. Following the completion of the sale, the senior vice president now directly owns 252,338 shares in the company, valued at approximately $3,184,505.56. The disclosure for this sale can be found here. Insiders have sold 276,299 shares of company stock worth $3,487,050 over the last 90 days. 1.77% of the stock is currently owned by company insiders.

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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