Brocade Communications Systems (BRCD) : Pineview Asset Management Lp scooped up 63,145 additional shares in Brocade Communications Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 579,524 shares of Brocade Communications Systems which is valued at $5,603,997.Brocade Communications Systems makes up approximately 2.80% of Pineview Asset Management Lp’s portfolio.
Other Hedge Funds, Including , Dialectic Capital Management Lp sold out all of its stake in BRCD during the most recent quarter. The investment firm sold 78,647 shares of BRCD which is valued $760,516.Nuveen Asset Management boosted its stake in BRCD in the latest quarter, The investment management firm added 216,814 additional shares and now holds a total of 1,045,213 shares of Brocade Communications Systems which is valued at $10,107,210. Brocade Communications Systems makes up approx 0.06% of Nuveen Asset Management’s portfolio.Cable Hill Partners reduced its stake in BRCD by selling 172 shares or 7.34% in the most recent quarter. The Hedge Fund company now holds 2,172 shares of BRCD which is valued at $21,003. Brocade Communications Systems makes up approx 0.01% of Cable Hill Partners’s portfolio. P.a.w. Capital Corp sold out all of its stake in BRCD during the most recent quarter. The investment firm sold 150,000 shares of BRCD which is valued $1,422,000.California State Teachers Retirement System reduced its stake in BRCD by selling 15,802 shares or 1.53% in the most recent quarter. The Hedge Fund company now holds 1,016,602 shares of BRCD which is valued at $9,383,236. Brocade Communications Systems makes up approx 0.02% of California State Teachers Retirement System’s portfolio.
Brocade Communications Systems opened for trading at $8.99 and hit $9.08 on the upside on Thursday, eventually ending the session at $9.06, with a gain of 0.89% or 0.08 points. The heightened volatility saw the trading volume jump to 61,97,623 shares. Company has a market cap of $3,619 M.
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. 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 .Shares were Downgraded by Robert W. Baird on Jul 14, 2016 to ” Underperform” and Lowered the Price Target to $ 8 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.