BNP Paribas Arbitrage SA decreased its position in Brocade Communications Systems Inc. (NASDAQ:BRCD) by 33.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 318,639 shares of the company’s stock after selling 159,989 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.08% of Brocade Communications Systems worth $2,941,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Boston Partners boosted its stake in shares of Brocade Communications Systems by 95.0% in the second quarter. Boston Partners now owns 21,319,531 shares of the company’s stock worth $195,713,000 after buying an additional 10,389,103 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Brocade Communications Systems by 21.6% in the second quarter. Vanguard Group Inc. now owns 34,710,641 shares of the company’s stock worth $318,644,000 after buying an additional 6,172,835 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Brocade Communications Systems during the second quarter worth about $55,044,000. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Brocade Communications Systems by 35.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 13,963,697 shares of the company’s stock worth $128,187,000 after buying an additional 3,656,426 shares in the last quarter. Finally, DNB Asset Management AS bought a new stake in shares of Brocade Communications Systems during the second quarter worth about $17,756,000. Institutional investors own 82.37% of the company’s stock.

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

Brocade Communications Systems Inc. (NASDAQ:BRCD) traded down 0.16% during trading on Wednesday, reaching $12.34. The company’s stock had a trading volume of 14,432,086 shares. The stock has a 50-day moving average price of $10.75 and a 200 day moving average price of $9.54. The company has a market cap of $4.96 billion, a PE ratio of 24.20 and a beta of 0.79. Brocade Communications Systems Inc. has a 52-week low of $7.40 and a 52-week high of $12.50.

Brocade Communications Systems (NASDAQ:BRCD) last released its quarterly earnings data on Monday, November 21st. The company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.11. Brocade Communications Systems had a net margin of 9.12% and a return on equity of 13.42%. The business had revenue of $657.30 million for the quarter, compared to analysts’ expectations of $639.96 million. During the same quarter last year, the company earned $0.26 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts expect that Brocade Communications Systems Inc. will post $1.03 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Monday, December 12th will be issued a $0.055 dividend. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.78%. Brocade Communications Systems’s dividend payout ratio (DPR) is presently 42.31%.

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A number of equities research analysts recently weighed in on the company. Barclays PLC dropped their price target on Brocade Communications Systems from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 23rd. DA Davidson assumed coverage on Brocade Communications Systems in a research note on Monday, October 3rd. They issued a “buy” rating and a $12.00 price target on the stock. Argus restated a “buy” rating and issued a $13.00 price target on shares of Brocade Communications Systems in a research note on Wednesday, August 31st. Wunderlich restated a “hold” rating and issued a $11.00 price target (up previously from $9.00) on shares of Brocade Communications Systems in a research note on Friday, August 26th. Finally, Citigroup Inc. increased their price target on Brocade Communications Systems from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Friday, August 26th. One equities research analyst has rated the stock with a sell rating, twenty have given a hold rating and three have given a buy rating to the company. Brocade Communications Systems presently has a consensus rating of “Hold” and a consensus price target of $10.90.

In related news, SVP Ellen Odonnell sold 7,500 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $9.00, for a total value of $67,500.00. Following the sale, the senior vice president now owns 6,118 shares of the company’s stock, valued at approximately $55,062. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Brocade Communications Systems Company Profile

Brocade Communications Systems, Inc 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 has three operating segments: SAN Products, IP Networking Products and Global Services.

5 Day Chart for NASDAQ:BRCD

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