Magnetar Financial LLC Has $131.82 Million Holdings in Brocade Communications Systems, Inc. (BRCD)

Magnetar Financial LLC raised its stake in Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 16.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,030,810 shares of the technology company’s stock after buying an additional 1,563,088 shares during the quarter. Brocade Communications Systems makes up approximately 3.0% of Magnetar Financial LLC’s investment portfolio, making the stock its 8th largest position. Magnetar Financial LLC owned about 2.67% of Brocade Communications Systems worth $131,818,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. B. Riley Financial Inc. purchased a new stake in Brocade Communications Systems in the 3rd quarter valued at $365,000. Engineers Gate Manager LP lifted its stake in shares of Brocade Communications Systems by 958.5% in the 3rd quarter. Engineers Gate Manager LP now owns 514,580 shares of the technology company’s stock valued at $6,149,000 after purchasing an additional 465,964 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Brocade Communications Systems by 18.1% in the 3rd quarter. California State Teachers Retirement System now owns 1,120,022 shares of the technology company’s stock valued at $13,384,000 after purchasing an additional 171,776 shares during the last quarter. Mint Tower Capital Management B.V. acquired a new position in shares of Brocade Communications Systems in the 3rd quarter valued at $179,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Brocade Communications Systems by 7.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 2,007,318 shares of the technology company’s stock valued at $23,988,000 after purchasing an additional 142,747 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

Several equities analysts have recently commented on the company. BidaskClub raised Brocade Communications Systems from a “strong sell” rating to a “sell” rating in a research note on Monday, August 14th. Robert W. Baird set a $13.00 price target on Brocade Communications Systems and gave the company a “hold” rating in a research note on Thursday, August 17th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $12.75 price target on shares of Brocade Communications Systems in a research note on Friday, September 29th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $12.83.

Brocade Communications Systems, Inc. (NASDAQ BRCD) opened at $12.69 on Wednesday. Brocade Communications Systems, Inc. has a 12 month low of $11.43 and a 12 month high of $12.74. The company has a market capitalization of $5,270.00, a price-to-earnings ratio of 39.78, a PEG ratio of 2.93 and a beta of 0.54. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 0.58.

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Brocade Communications Systems Company Profile

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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