Public Employees Retirement System of Ohio Has $3.19 Million Position in Brocade Communications Systems, Inc. (BRCD)

Public Employees Retirement System of Ohio lifted its holdings in Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 45.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 253,320 shares of the technology company’s stock after acquiring an additional 78,907 shares during the period. Public Employees Retirement System of Ohio owned 0.06% of Brocade Communications Systems worth $3,194,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BRCD. Cowen Inc. lifted its holdings in shares of Brocade Communications Systems by 73.2% in the 2nd quarter. Cowen Inc. now owns 11,363,178 shares of the technology company’s stock valued at $143,290,000 after acquiring an additional 4,803,042 shares during the last quarter. Tyrus Capital S.A.M. bought a new position in shares of Brocade Communications Systems in the 2nd quarter valued at about $35,308,000. City Financial Investment Co Ltd bought a new position in shares of Brocade Communications Systems in the 2nd quarter valued at about $20,347,000. Pentwater Capital Management LP lifted its holdings in shares of Brocade Communications Systems by 26.9% in the 2nd quarter. Pentwater Capital Management LP now owns 6,040,000 shares of the technology company’s stock valued at $76,164,000 after acquiring an additional 1,280,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Brocade Communications Systems by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 34,838,927 shares of the technology company’s stock valued at $439,320,000 after acquiring an additional 642,075 shares during the last quarter. 83.59% of the stock is owned by hedge funds and other institutional investors.

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A number of research analysts recently commented on BRCD shares. Robert W. Baird set a $13.00 price target on shares of Brocade Communications Systems and gave the company a “hold” rating in a report on Thursday, August 17th. BidaskClub raised shares of Brocade Communications Systems from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Royal Bank Of Canada reissued a “hold” rating and issued a $12.75 price objective on shares of Brocade Communications Systems in a research note on Friday, September 29th. Finally, Zacks Investment Research downgraded shares of Brocade Communications Systems from a “buy” rating to a “hold” rating in a research note 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. Brocade Communications Systems currently has an average rating of “Hold” and an average price target of $12.45.

Brocade Communications Systems, Inc. (NASDAQ BRCD) opened at 11.64 on Monday. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 163.94 and a beta of 0.63. Brocade Communications Systems, Inc. has a 12 month low of $8.67 and a 12 month high of $12.72. The stock’s 50 day moving average is $12.05 and its 200-day moving average is $12.41.

Brocade Communications Systems (NASDAQ:BRCD) last issued 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 firm had revenue of $549.00 million for the quarter, compared to analyst estimates of $614.10 million. During the same period in the prior year, the business posted $0.21 EPS. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, equities research analysts expect that Brocade Communications Systems, Inc. will post $0.61 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th were issued a $0.055 dividend. The ex-dividend date was Friday, September 8th. This represents a $0.22 annualized dividend and a dividend yield of 1.89%. Brocade Communications Systems’s dividend payout ratio is currently 314.29%.

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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