SG Americas Securities LLC increased its stake in Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 602.4% during the second quarter, Holdings Channel reports. The fund owned 646,722 shares of the technology company’s stock after buying an additional 554,647 shares during the period. SG Americas Securities LLC’s holdings in Brocade Communications Systems were worth $8,155,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP bought a new position in Brocade Communications Systems during the first quarter valued at about $824,000. Havens Advisors LLC increased its position in Brocade Communications Systems by 34.0% in the second quarter. Havens Advisors LLC now owns 560,000 shares of the technology company’s stock valued at $7,062,000 after buying an additional 142,000 shares during the last quarter. Visionary Asset Management Inc. bought a new position in Brocade Communications Systems during the second quarter valued at about $324,000. Quantitative Systematic Strategies LLC bought a new position in Brocade Communications Systems during the second quarter valued at about $177,000. Finally, Kellner Capital LLC increased its position in Brocade Communications Systems by 73.3% in the first quarter. Kellner Capital LLC now owns 286,400 shares of the technology company’s stock valued at $3,574,000 after buying an additional 121,100 shares during the last quarter. Institutional investors own 81.00% of the company’s stock.

Brocade Communications Systems, Inc. (BRCD) opened at 12.24 on Thursday. The stock’s 50 day moving average is $12.52 and its 200-day moving average is $12.52. Brocade Communications Systems, Inc. has a 12 month low of $8.64 and a 12 month high of $12.72. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 83.84 and a beta of 0.66.

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

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A number of research firms recently weighed in on BRCD. Zacks Investment Research cut shares of Brocade Communications Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub raised shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Stifel Nicolaus reissued a “hold” rating and issued a $12.75 target price on shares of Brocade Communications Systems in a research note 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 note on Friday, June 9th. Finally, Robert W. Baird set a $13.00 target price on shares of Brocade Communications Systems and gave the company a “hold” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $11.13.

In other news, SVP Ken Cheng sold 68,488 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $12.62, for a total value of $864,318.56. Following the transaction, 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 can be accessed through the SEC website. Also, SVP Ellen Odonnell sold 7,811 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $12.64, for a total transaction of $98,731.04. Following the completion of the transaction, the senior vice president now owns 19,037 shares in the company, valued at approximately $240,627.68. The disclosure for this sale can be found here. Insiders sold a total of 276,299 shares of company stock worth $3,487,050 in the last 90 days. Corporate insiders own 1.77% of the company’s stock.

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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