New York State Common Retirement Fund trimmed its holdings in shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 879,124 shares of the technology company’s stock after selling 21,200 shares during the quarter. New York State Common Retirement Fund owned 0.21% of Brocade Communications Systems worth $10,506,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Brocade Communications Systems by 1.9% in the second quarter. Vanguard Group Inc. now owns 34,838,927 shares of the technology company’s stock worth $439,320,000 after purchasing an additional 642,075 shares in the last quarter. Cowen Inc. grew its stake in Brocade Communications Systems by 73.2% in the second quarter. Cowen Inc. now owns 11,363,178 shares of the technology company’s stock worth $143,290,000 after purchasing an additional 4,803,042 shares in the last quarter. Pentwater Capital Management LP grew its stake in Brocade Communications Systems by 26.9% in the second quarter. Pentwater Capital Management LP now owns 6,040,000 shares of the technology company’s stock worth $76,164,000 after purchasing an additional 1,280,000 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Brocade Communications Systems by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 5,433,279 shares of the technology company’s stock worth $68,514,000 after purchasing an additional 227,435 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Brocade Communications Systems by 4.1% in the second quarter. Northern Trust Corp now owns 3,642,521 shares of the technology company’s stock worth $45,933,000 after purchasing an additional 144,390 shares in the last quarter. 83.72% of the stock is currently owned by institutional investors and hedge funds.

Brocade Communications Systems, Inc. (BRCD) opened at $12.69 on Wednesday. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 0.58. Brocade Communications Systems, Inc. has a 52 week low of $11.43 and a 52 week high of $12.74. The company has a market capitalization of $5,270.00, a P/E ratio of 39.78, a price-to-earnings-growth ratio of 2.93 and a beta of 0.54.

A number of equities analysts recently commented on the company. Royal Bank of Canada reiterated a “hold” rating and issued a $12.75 price target on shares of Brocade Communications Systems in a research note on Thursday, November 2nd. Robert W. Baird reiterated a “hold” rating and issued a $13.00 price target on shares of Brocade Communications Systems in a research note on Friday, September 29th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $12.83.

ILLEGAL ACTIVITY NOTICE: “New York State Common Retirement Fund Has $10.51 Million Stake in Brocade Communications Systems, Inc. (BRCD)” was published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright laws. The original version of this piece of content can be viewed at https://www.watchlistnews.com/new-york-state-common-retirement-fund-has-10-51-million-stake-in-brocade-communications-systems-inc-brcd/1773965.html.

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)

Receive News & Ratings for Brocade Communications Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brocade Communications Systems and related companies with MarketBeat.com's FREE daily email newsletter.