Brocade Communications Systems, Inc. (BRCD) Holdings Trimmed by Fairfield Bush & CO.

Fairfield Bush & CO. reduced its holdings in shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 0.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 199,071 shares of the technology company’s stock after selling 163 shares during the period. Fairfield Bush & CO.’s holdings in Brocade Communications Systems were worth $2,510,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in Brocade Communications Systems by 13.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock worth $148,000 after acquiring an additional 1,430 shares during the period. Stephens Inc. AR grew its holdings in Brocade Communications Systems by 17.6% during the 1st quarter. Stephens Inc. AR now owns 11,960 shares of the technology company’s stock worth $149,000 after acquiring an additional 1,792 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in Brocade Communications Systems during the 2nd quarter worth about $177,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Brocade Communications Systems by 6.9% during 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. Finally, Fulton Bank N.A. grew its holdings in Brocade Communications Systems by 10.2% during the 2nd quarter. Fulton Bank N.A. now owns 20,999 shares of the technology company’s stock worth $265,000 after acquiring an additional 1,948 shares during the period. Hedge funds and other institutional investors own 83.39% of the company’s stock.

BRCD has been the topic of a number of research analyst reports. Robert W. Baird set a $13.00 price objective on shares of Brocade Communications Systems and gave the stock a “hold” rating in a research report on Thursday, August 17th. Royal Bank Of Canada reissued a “hold” rating and set a $12.75 price objective on shares of Brocade Communications Systems in a research report on Friday, September 29th. BidaskClub raised shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a research report on Sunday, August 20th. Finally, Zacks Investment Research cut shares of Brocade Communications Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating and ten have given a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $12.45.

Shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) traded up 0.366% during trading on Tuesday, reaching $12.325. 8,398,670 shares of the company traded hands. The stock has a market capitalization of $5.10 billion, a P/E ratio of 173.592 and a beta of 0.63. Brocade Communications Systems, Inc. has a 12-month low of $8.64 and a 12-month high of $12.72. The firm’s 50 day moving average is $12.20 and its 200-day moving average is $12.46.

Brocade Communications Systems (NASDAQ:BRCD) last posted its quarterly earnings data on Thursday, August 24th. The technology company reported $0.16 EPS for the quarter, topping the 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 business had revenue of $549.00 million for the quarter, compared to analyst estimates of $614.10 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Brocade Communications Systems’s quarterly revenue was down 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Brocade Communications Systems, Inc. will post $0.61 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Monday, September 11th were paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 1.79%. The ex-dividend date was Friday, September 8th. Brocade Communications Systems’s payout ratio is currently 314.29%.

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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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