Athos Capital Ltd raised its stake in Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 29.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 374,800 shares of the technology company’s stock after purchasing an additional 84,800 shares during the quarter. Brocade Communications Systems accounts for about 3.4% of Athos Capital Ltd’s portfolio, making the stock its 11th biggest position. Athos Capital Ltd owned approximately 0.09% of Brocade Communications Systems worth $4,479,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. UBS Asset Management Americas Inc. increased its position in shares of Brocade Communications Systems by 11.3% during the first quarter. UBS Asset Management Americas Inc. now owns 277,860 shares of the technology company’s stock valued at $3,468,000 after acquiring an additional 28,302 shares during the last quarter. Wellington Management Group LLP bought a new position in Brocade Communications Systems during the first quarter valued at $824,000. PNC Financial Services Group Inc. grew its holdings in Brocade Communications Systems by 13.8% during the first quarter. PNC Financial Services Group Inc. now owns 11,792 shares of the technology company’s stock valued at $148,000 after purchasing an additional 1,430 shares during the period. New York State Teachers Retirement System grew its holdings in Brocade Communications Systems by 1.7% during the first quarter. New York State Teachers Retirement System now owns 153,275 shares of the technology company’s stock valued at $1,913,000 after purchasing an additional 2,500 shares during the period. Finally, KCG Holdings Inc. grew its holdings in Brocade Communications Systems by 239.7% during the first quarter. KCG Holdings Inc. now owns 42,464 shares of the technology company’s stock valued at $530,000 after purchasing an additional 29,963 shares during the period. 81.35% of the stock is owned by hedge funds and other institutional investors.
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Shares of Brocade Communications Systems, Inc. (NASDAQ BRCD) opened at $12.58 on Wednesday. The firm has a market cap of $5,210.00, a price-to-earnings ratio of 39.44, a price-to-earnings-growth ratio of 2.90 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.66 and a current ratio of 2.78. Brocade Communications Systems, Inc. has a 12 month low of $11.43 and a 12 month high of $12.72.
Brocade Communications Systems (NASDAQ:BRCD) last posted its quarterly earnings data on Thursday, August 24th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.04 by $0.12. The firm had revenue of $549.00 million during the quarter, compared to analyst estimates of $614.10 million. Brocade Communications Systems had a return on equity of 5.42% and a net margin of 1.30%. Brocade Communications Systems’s revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 EPS. equities research analysts predict that Brocade Communications Systems, Inc. will post 0.36 earnings per share for the current year.
Several equities analysts have weighed in on BRCD shares. Zacks Investment Research lowered Brocade Communications Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Royal Bank Of Canada reissued a “hold” rating and set a $12.75 price objective on shares of Brocade Communications Systems in a research note on Friday, September 29th. Robert W. Baird reissued a “hold” rating on shares of Brocade Communications Systems in a research note on Friday, August 25th. Finally, BidaskClub raised Brocade Communications Systems from a “sell” rating to a “hold” rating in a research report on Sunday, August 20th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.83.
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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