Paradigm Capital Management Inc. NY held its position in shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,000 shares of the technology company’s stock at the end of the 2nd quarter. Paradigm Capital Management Inc. NY’s holdings in Brocade Communications Systems were worth $769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brookstone Capital Management acquired a new stake in Brocade Communications Systems during the second quarter worth about $279,000. Wellington Management Group LLP acquired a new stake in Brocade Communications Systems during the first quarter worth about $824,000. Russell Investments Group Ltd. raised its stake in Brocade Communications Systems by 67.9% during the second quarter. Russell Investments Group Ltd. now owns 284,542 shares of the technology company’s stock worth $3,592,000 after acquiring an additional 115,071 shares during the period. Havens Advisors LLC raised its stake in Brocade Communications Systems by 34.0% during the second quarter. Havens Advisors LLC now owns 560,000 shares of the technology company’s stock worth $7,062,000 after acquiring an additional 142,000 shares during the period. Finally, Visionary Asset Management Inc. acquired a new stake in Brocade Communications Systems during the second quarter worth about $324,000. Hedge funds and other institutional investors own 83.00% of the company’s stock.

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BRCD has been the topic of several research reports. Zacks Investment Research lowered shares of Brocade Communications Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Robert W. Baird reiterated a “hold” rating on shares of Brocade Communications Systems in a research note on Friday, August 25th. BidaskClub upgraded shares of Brocade Communications Systems from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Stifel Nicolaus reiterated a “hold” rating and set a $12.75 price objective 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 price objective on shares of Brocade Communications Systems in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Brocade Communications Systems has an average rating of “Hold” and a consensus target price of $12.32.

Shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) traded down 0.041% during midday trading on Wednesday, hitting $12.275. 97,873 shares of the company’s stock traded hands. The company has a 50 day moving average price of $12.35 and a 200 day moving average price of $12.51. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 172.887 and a beta of 0.64. Brocade Communications Systems, Inc. has a 1-year low of $8.64 and a 1-year high of $12.72.

Brocade Communications Systems (NASDAQ:BRCD) last released its quarterly earnings results on Thursday, August 24th. The technology company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.12. The firm had revenue of $549.00 million for the quarter, compared to analyst estimates of $614.10 million. Brocade Communications Systems had a net margin of 1.30% and a return on equity of 5.42%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. Equities analysts anticipate that Brocade Communications Systems, Inc. will post $0.61 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th will be given a $0.055 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.22 dividend on an annualized basis and a yield of 1.79%. Brocade Communications Systems’s dividend payout ratio (DPR) is presently 314.29%.

Brocade Communications Systems 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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