Brocade Communications Systems, Inc. (BRCD) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC increased its stake in shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 4.7% during the first quarter, Holdings Channel reports. The fund owned 320,830 shares of the technology company’s stock after buying an additional 14,417 shares during the period. Mutual of America Capital Management LLC’s holdings in Brocade Communications Systems were worth $4,004,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Brocade Communications Systems by 1.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,671 shares of the technology company’s stock valued at $196,000 after buying an additional 295 shares during the last quarter. Profund Advisors LLC raised its position in shares of Brocade Communications Systems by 0.6% in the first quarter. Profund Advisors LLC now owns 62,584 shares of the technology company’s stock valued at $781,000 after buying an additional 380 shares during the period. Fulton Bank N.A. raised its position in shares of Brocade Communications Systems by 2.2% in the first quarter. Fulton Bank N.A. now owns 19,051 shares of the technology company’s stock valued at $238,000 after buying an additional 411 shares during the period. World Asset Management Inc raised its position in shares of Brocade Communications Systems by 3.0% in the first quarter. World Asset Management Inc now owns 27,900 shares of the technology company’s stock valued at $348,000 after buying an additional 805 shares during the period. Finally, Capstone Asset Management Co. raised its position in shares of Brocade Communications Systems by 3.0% in the first quarter. Capstone Asset Management Co. now owns 33,625 shares of the technology company’s stock valued at $420,000 after buying an additional 980 shares during the period. Hedge funds and other institutional investors own 80.06% of the company’s stock.

Institutional Ownership by Quarter for Brocade Communications Systems (NASDAQ:BRCD)

Shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) traded up 0.08% on Friday, reaching $12.63. 1,490,947 shares of the company’s stock were exchanged. Brocade Communications Systems, Inc. has a 52-week low of $7.60 and a 52-week high of $12.68. The company’s 50 day moving average price is $12.55 and its 200-day moving average price is $12.42. The stock has a market cap of $5.15 billion, a P/E ratio of 46.26 and a beta of 0.88.

Brocade Communications Systems (NASDAQ:BRCD) last issued its earnings results on Thursday, February 23rd. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by $0.10. Brocade Communications Systems had a return on equity of 13.41% and a net margin of 9.12%. The firm had revenue of $581.46 million during the quarter, compared to the consensus estimate of $649.89 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. Brocade Communications Systems’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities analysts forecast that Brocade Communications Systems, Inc. will post $0.85 EPS for the current fiscal year.

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Several research analysts have recently issued reports on BRCD shares. Zacks Investment Research lowered shares of Brocade Communications Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, February 28th. TheStreet lowered shares of Brocade Communications Systems from a “b” rating to a “c” rating in a research note on Friday, February 24th. Finally, Wunderlich reaffirmed a “sell” rating on shares of Brocade Communications Systems in a research note on Thursday, March 30th. One research analyst has rated the stock with a sell rating and seventeen have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.04.

In related news, SVP Ellen Odonnell sold 6,345 shares of the stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $12.37, for a total value of $78,487.65. Following the transaction, the senior vice president now directly owns 11,226 shares in the company, valued at approximately $138,865.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lloyd Carney sold 1,050,916 shares of the stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $12.47, for a total value of $13,104,922.52. Following the completion of the transaction, the chief executive officer now owns 1,143,810 shares in the company, valued at $14,263,310.70. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

About Brocade Communications Systems

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.

5 Day Chart for NASDAQ:BRCD

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