New York State Teachers Retirement System trimmed its position in Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 20.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,975 shares of the technology company’s stock after selling 22,300 shares during the quarter. New York State Teachers Retirement System’s holdings in Brocade Communications Systems were worth $1,051,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. World Asset Management Inc raised its stake in shares of Brocade Communications Systems by 0.7% in the second quarter. World Asset Management Inc now owns 28,091 shares of the technology company’s stock worth $354,000 after purchasing an additional 191 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of 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 purchasing an additional 200 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Brocade Communications Systems by 6.9% in the second quarter. PNC Financial Services Group Inc. now owns 12,603 shares of the technology company’s stock worth $160,000 after purchasing an additional 811 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Brocade Communications Systems by 1.7% in the second quarter. Stifel Financial Corp now owns 53,205 shares of the technology company’s stock worth $672,000 after purchasing an additional 900 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Brocade Communications Systems by 3.4% in the second quarter. Teacher Retirement System of Texas now owns 32,671 shares of the technology company’s stock worth $412,000 after purchasing an additional 1,071 shares during the last quarter. Hedge funds and other institutional investors own 81.35% of the company’s stock.

Several research analysts recently weighed in on BRCD shares. Zacks Investment Research cut Brocade Communications Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada reiterated a “hold” rating and set a $12.75 price target on shares of Brocade Communications Systems in a research report on Friday, September 29th. Robert W. Baird reiterated a “hold” rating on shares of Brocade Communications Systems in a research report on Friday, August 25th. Finally, BidaskClub upgraded Brocade Communications Systems from a “sell” rating to a “hold” rating in a research report on Sunday, August 20th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.83.

Brocade Communications Systems, Inc. (NASDAQ BRCD) opened at $12.61 on Tuesday. The company has a current ratio of 2.78, a quick ratio of 2.66 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $5,222.36, a P/E ratio of 39.44, a P/E/G ratio of 2.90 and a beta of 0.54. Brocade Communications Systems, Inc. has a 12-month low of $11.43 and a 12-month high of $12.72.

Brocade Communications Systems (NASDAQ:BRCD) last issued its quarterly earnings data on Thursday, August 24th. The technology company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.04 by $0.12. Brocade Communications Systems had a return on equity of 5.42% and a net margin of 1.30%. The company had revenue of $549.00 million for the quarter, compared to analyst estimates of $614.10 million. During the same period last year, the company earned $0.21 earnings per share. Brocade Communications Systems’s quarterly revenue was down 7.1% compared to the same quarter last year. equities analysts predict that Brocade Communications Systems, Inc. will post 0.36 EPS for the current year.

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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.

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

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