Teachers Advisors LLC Grows Holdings in Brocade Communications Systems, Inc. (BRCD)

Teachers Advisors LLC lifted its position in Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 8.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 495,344 shares of the technology company’s stock after purchasing an additional 37,129 shares during the quarter. Teachers Advisors LLC owned approximately 0.12% of Brocade Communications Systems worth $6,246,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. raised its stake in shares of Brocade Communications Systems by 0.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 28,557 shares of the technology company’s stock worth $356,000 after buying an additional 111 shares in the last quarter. World Asset Management Inc raised its stake in shares of Brocade Communications Systems by 0.7% during the 2nd quarter. World Asset Management Inc now owns 28,091 shares of the technology company’s stock worth $354,000 after buying an additional 191 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of Brocade Communications Systems by 0.6% during the 2nd 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 in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Brocade Communications Systems by 3.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 32,671 shares of the technology company’s stock worth $412,000 after acquiring an additional 1,071 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Brocade Communications Systems by 6.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,758 shares of the technology company’s stock worth $211,000 after acquiring an additional 1,087 shares during the period. 83.38% of the stock is owned by hedge funds and other institutional investors.

Brocade Communications Systems, Inc. (NASDAQ BRCD) traded up 0.51% during trading on Wednesday, reaching $11.83. 123,838 shares of the company’s stock traded hands. The company has a market cap of $4.90 billion, a P/E ratio of 166.62 and a beta of 0.63. The firm’s 50 day moving average is $12.19 and its 200 day moving average is $12.46. Brocade Communications Systems, Inc. has a 12 month low of $8.64 and a 12 month high of $12.72.

Brocade Communications Systems (NASDAQ:BRCD) last posted its earnings results on Thursday, August 24th. The technology company reported $0.16 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $549.00 million for the quarter, compared to analyst estimates of $614.10 million. During the same period in the previous year, the firm posted $0.21 EPS. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. Analysts anticipate that Brocade Communications Systems, Inc. will post $0.61 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th were issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, September 8th. Brocade Communications Systems’s payout ratio is 314.29%.

A number of equities research analysts have commented on BRCD shares. Zacks Investment Research cut Brocade Communications Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $12.75 target price on shares of Brocade Communications Systems in a research report on Friday, September 29th. Robert W. Baird reaffirmed a “hold” rating on shares of Brocade Communications Systems in a research report on Friday, August 25th. Finally, BidaskClub raised Brocade Communications Systems from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. One analyst has rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.45.

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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.

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

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