Empirical Finance LLC Maintains Holdings in Brocade Communications Systems, Inc. (BRCD)

Empirical Finance LLC maintained its position in shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,076 shares of the technology company’s stock at the end of the 2nd quarter. Empirical Finance LLC’s holdings in Brocade Communications Systems were worth $1,225,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in Brocade Communications Systems by 13.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock valued at $148,000 after acquiring an additional 1,430 shares during the last quarter. Stephens Inc. AR raised its stake in Brocade Communications Systems by 17.6% during the 1st quarter. Stephens Inc. AR now owns 11,960 shares of the technology company’s stock valued at $149,000 after acquiring an additional 1,792 shares during the last quarter. Bank of Montreal Can raised its stake in Brocade Communications Systems by 14.0% during the 1st quarter. Bank of Montreal Can now owns 13,240 shares of the technology company’s stock valued at $166,000 after acquiring an additional 1,629 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in Brocade Communications Systems during the 2nd quarter valued at approximately $177,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Brocade Communications Systems by 1.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,671 shares of the technology company’s stock valued at $196,000 after acquiring an additional 295 shares during the last quarter. 83.00% of the stock is owned by hedge funds and other institutional investors.

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Several research firms have commented on BRCD. Zacks Investment Research downgraded Brocade Communications Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub downgraded Brocade Communications Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Stifel Nicolaus reaffirmed a “hold” rating and set a $12.75 price objective on shares of Brocade Communications Systems in a research note on Friday, May 26th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $12.75 price objective on shares of Brocade Communications Systems in a research note on Friday, June 9th. Finally, Robert W. Baird set a $13.00 price objective on Brocade Communications Systems and gave the company a “hold” rating in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Brocade Communications Systems currently has a consensus rating of “Hold” and a consensus price target of $12.32.

Shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) traded down 0.41% during midday trading on Tuesday, reaching $12.24. The company’s stock had a trading volume of 1,858,579 shares. Brocade Communications Systems, Inc. has a 12 month low of $8.64 and a 12 month high of $12.72. The stock has a market capitalization of $5.06 billion, a PE ratio of 172.39 and a beta of 0.64. The stock’s 50 day moving average is $12.35 and its 200 day moving average is $12.51.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, September 8th. Brocade Communications Systems’s dividend payout ratio is currently 314.29%.

In other news, SVP Ellen Odonnell sold 7,811 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $12.64, for a total transaction of $98,731.04. Following the transaction, the senior vice president now directly owns 19,037 shares in the company, valued at approximately $240,627.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.77% of the company’s stock.

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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