Janus Capital Management LLC Boosts Stake in Brocade Communications Systems, Inc. (NASDAQ:BRCD)

Janus Capital Management LLC raised its stake in Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 862.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 208,900 shares of the technology company’s stock after buying an additional 187,200 shares during the period. Janus Capital Management LLC owned approximately 0.05% of Brocade Communications Systems worth $2,607,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nationwide Fund Advisors raised its stake in Brocade Communications Systems by 2.0% in the first quarter. Nationwide Fund Advisors now owns 743,300 shares of the technology company’s stock worth $9,276,000 after buying an additional 14,628 shares during the last quarter. Retirement Systems of Alabama raised its stake in Brocade Communications Systems by 1.3% in the first quarter. Retirement Systems of Alabama now owns 526,346 shares of the technology company’s stock worth $6,569,000 after buying an additional 6,809 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Brocade Communications Systems during the first quarter worth $1,591,000. Louisiana State Employees Retirement System raised its stake in Brocade Communications Systems by 3.5% in the first quarter. Louisiana State Employees Retirement System now owns 103,000 shares of the technology company’s stock worth $1,285,000 after buying an additional 3,500 shares during the last quarter. Finally, Alpha Windward LLC raised its stake in Brocade Communications Systems by 3.8% in the first quarter. Alpha Windward LLC now owns 39,099 shares of the technology company’s stock worth $488,000 after buying an additional 1,440 shares during the last quarter. 82.05% of the stock is owned by institutional investors.

Brocade Communications Systems, Inc. (NASDAQ:BRCD) traded up 1.68% on Friday, hitting $12.14. 15,720,912 shares of the stock were exchanged. The company’s 50 day moving average is $12.56 and its 200 day moving average is $12.52. The stock has a market cap of $4.98 billion, a PE ratio of 83.15 and a beta of 0.66. Brocade Communications Systems, Inc. has a 1-year low of $8.64 and a 1-year high of $12.72.

Brocade Communications Systems (NASDAQ:BRCD) last announced its quarterly earnings results on Thursday, May 25th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.09. The firm had revenue of $552.80 million for the quarter, compared to analyst estimates of $602.92 million. Brocade Communications Systems had a net margin of 2.54% and a return on equity of 8.49%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. On average, equities research analysts expect that Brocade Communications Systems, Inc. will post $0.58 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Janus Capital Management LLC Boosts Stake in Brocade Communications Systems, Inc. (NASDAQ:BRCD)” was originally posted by Community Financial News and is owned by of Community Financial News. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.com-unik.info/2017/08/12/janus-capital-management-llc-raises-stake-in-brocade-communications-systems-inc-nasdaqbrcd-updated-updated-updated.html.

BRCD has been the subject of a number of recent analyst reports. BidaskClub raised shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $12.75 price target on shares of Brocade Communications Systems in a report on Friday, June 9th. Zacks Investment Research raised shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $12.75 price target on shares of Brocade Communications Systems in a report on Friday, May 26th. Two research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $11.13.

In other Brocade Communications Systems news, SVP Ken Cheng sold 68,488 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 452,338 shares of the company’s stock, valued at approximately $5,708,505.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Ellen Odonnell sold 7,811 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $12.64, for a total transaction of $98,731.04. Following the completion of the sale, the senior vice president now directly 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 three months. 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.

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

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