Carl Domino Inc buys $1,449,676 stake in Brocade Communications Systems (BRCD)

Brocade Communications Systems (BRCD) : Carl Domino Inc scooped up 16,140 additional shares in Brocade Communications Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 160,540 shares of Brocade Communications Systems which is valued at $1,449,676.Brocade Communications Systems makes up approximately 1.38% of Carl Domino Inc’s portfolio.

Other Hedge Funds, Including , Carroll Financial Associates sold out all of its stake in BRCD during the most recent quarter. The investment firm sold 125 shares of BRCD which is valued $1,163.Gradient Investments reduced its stake in BRCD by selling 119 shares or 28.81% in the most recent quarter. The Hedge Fund company now holds 294 shares of BRCD which is valued at $2,734.Fisher Asset Management reduced its stake in BRCD by selling 95,376 shares or 16.8% in the most recent quarter. The Hedge Fund company now holds 472,345 shares of BRCD which is valued at $4,392,809. Brocade Communications Systems makes up approx 0.01% of Fisher Asset Management’s portfolio.Simplex Trading reduced its stake in BRCD by selling 11,416 shares or 71.9% in the most recent quarter. The Hedge Fund company now holds 4,462 shares of BRCD which is valued at $41,318. Brocade Communications Systems makes up approx 0.01% of Simplex Trading’s portfolio.

Brocade Communications Systems closed down -0.27 points or -2.90% at $9.03 with 36,97,407 shares getting traded on Tuesday. Post opening the session at $9.3, the shares hit an intraday low of $9.01 and an intraday high of $9.35 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Brocade Communications Systems reported $0.22 EPS for the quarter, based on the information available during the earnings call on May 19, 2016. Analyst had a consensus estimate of $0.22. The company had revenue of $523.00 million for the quarter, compared to analysts expectations of $523.37 million. The company’s revenue was down -4.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.22 EPS.

Many Wall Street Analysts have commented on Brocade Communications Systems. DA Davidson Initiated Brocade Communications Systems on Oct 4, 2016 to “Buy”, Price Target of the shares are set at $12.Company shares were Reiterated by Wunderlich on Aug 26, 2016 to “Hold”, Firm has raised the Price Target to $ 11 from a previous price target of $9 .Company shares were Reiterated by RBC Capital Mkts on Aug 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 11 from a previous price target of $10 .

Brocade Communications Systems Inc. (Brocade) is a supplier of networking equipment including end-to-end Internet Protocol-based Ethernet networking solutions and storage area networking solutions for businesses and organizations of all types and sizes including global enterprises and service providers such as telecommunication firms cable operators and mobile carriers. Brocade offers networking hardware and software products and services. Its products and services are marketed sold and supported globally to end-user customers through distribution partners including original equipment manufacturers distributors systems integrators value-added resellers and directly to end-users by the Brocade direct sales force. The Company operates in four segments: Data Storage Global Services IP Layer 2-3 and IP Layer 4-7/ Application Delivery Products.

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