Aperio Group LLC raised its stake in shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,362 shares of the technology company’s stock after buying an additional 7,804 shares during the period. Aperio Group LLC’s holdings in Brocade Communications Systems were worth $1,568,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Pentwater Capital Management LP acquired a new stake in Brocade Communications Systems during the first quarter valued at $59,405,000. Cowen Group Inc. raised its stake in Brocade Communications Systems by 129.5% in the first quarter. Cowen Group Inc. now owns 6,560,136 shares of the technology company’s stock valued at $81,870,000 after buying an additional 3,701,370 shares during the last quarter. Vanguard Group Inc. raised its stake in Brocade Communications Systems by 6.4% in the first quarter. Vanguard Group Inc. now owns 34,196,852 shares of the technology company’s stock valued at $426,777,000 after buying an additional 2,065,687 shares during the last quarter. Renaissance Technologies LLC raised its stake in Brocade Communications Systems by 21.0% in the first quarter. Renaissance Technologies LLC now owns 11,301,302 shares of the technology company’s stock valued at $141,040,000 after buying an additional 1,958,253 shares during the last quarter. Finally, Cheyne Capital Management UK LLP acquired a new stake in Brocade Communications Systems during the first quarter valued at $19,201,000. Hedge funds and other institutional investors own 82.05% of the company’s stock.

Shares of Brocade Communications Systems, Inc. (NASDAQ BRCD) traded up 1.466% during trading on Friday, hitting $12.115. 9,134,041 shares of the stock traded hands. The firm’s 50-day moving average price is $12.57 and its 200-day moving average price is $12.52. Brocade Communications Systems, Inc. has a 52 week low of $8.64 and a 52 week high of $12.72. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 82.979 and a beta of 0.66.

Brocade Communications Systems (NASDAQ:BRCD) last posted its quarterly earnings results on Thursday, May 25th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.09. The business had revenue of $552.80 million for the quarter, compared to analysts’ expectations of $602.92 million. Brocade Communications Systems had a return on equity of 8.49% and a net margin of 2.54%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 earnings per share. On average, equities research analysts anticipate that Brocade Communications Systems, Inc. will post $0.58 earnings per share for the current year.

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Several analysts have weighed in on BRCD shares. BidaskClub lowered shares of Brocade Communications Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Stifel Nicolaus reiterated a “hold” rating and set a $12.75 target price on shares of Brocade Communications Systems in a research note on Friday, May 26th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $12.75 target price on shares of Brocade Communications Systems in a research note on Friday, June 9th. Two research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. Brocade Communications Systems has a consensus rating of “Hold” and a consensus price target of $11.13.

In related news, SVP Ellen Odonnell sold 7,811 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $12.64, for a total value of $98,731.04. Following the transaction, the senior vice president now owns 19,037 shares in the company, valued at $240,627.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Ken Cheng sold 68,488 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $12.62, for a total value of $864,318.56. Following the completion of the transaction, the senior vice president now owns 452,338 shares in the company, valued at approximately $5,708,505.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,299 shares of company stock worth $3,487,050. 1.77% of the stock is owned by company insiders.

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.

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

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