Brocade Communications Systems, Inc. (BRCD) Position Trimmed by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its position in Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,774,715 shares of the technology company’s stock after selling 206,526 shares during the quarter. Dimensional Fund Advisors LP owned 2.36% of Brocade Communications Systems worth $116,795,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BRCD. Ameriprise Financial Inc. raised its position in Brocade Communications Systems by 385.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 6,957,563 shares of the technology company’s stock worth $83,144,000 after purchasing an additional 5,524,802 shares during the period. Cowen Inc. raised its position in Brocade Communications Systems by 73.2% in the 2nd quarter. Cowen Inc. now owns 11,363,178 shares of the technology company’s stock worth $143,290,000 after purchasing an additional 4,803,042 shares during the period. Tyrus Capital S.A.M. purchased a new stake in Brocade Communications Systems in the 2nd quarter worth about $35,308,000. City Financial Investment Co Ltd purchased a new stake in Brocade Communications Systems in the 2nd quarter worth about $20,347,000. Finally, Pentwater Capital Management LP raised its position in 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 worth $76,164,000 after purchasing an additional 1,280,000 shares during the period. 83.72% of the stock is currently owned by institutional investors.

BRCD has been the topic of a number of research reports. Royal Bank of Canada reaffirmed a “hold” rating and set a $12.75 target price on shares of Brocade Communications Systems in a research report on Thursday, November 2nd. Robert W. Baird reaffirmed a “hold” rating and set a $13.00 target price on shares of Brocade Communications Systems in a research report on Friday, September 29th. Finally, BidaskClub raised shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a research report on Sunday, August 20th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company currently has an average rating of “Hold” and an average price target of $12.83.

Brocade Communications Systems, Inc. (NASDAQ BRCD) opened at $12.69 on Monday. The company has a market cap of $5,270.00, a P/E ratio of 39.78, a PEG ratio of 2.93 and a beta of 0.54. Brocade Communications Systems, Inc. has a 1 year low of $11.43 and a 1 year high of $12.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.66 and a current ratio of 2.78.

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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.

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

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