Brocade Communications Systems, Inc. (BRCD) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lowered its position in Brocade Communications Systems, Inc. (NASDAQ:BRCD) by 14.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 474,730 shares of the technology company’s stock after selling 78,768 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.11% of Brocade Communications Systems worth $5,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State of Wisconsin Investment Board boosted its position in shares of Brocade Communications Systems by 219.4% during the third quarter. State of Wisconsin Investment Board now owns 1,498,247 shares of the technology company’s stock valued at $17,904,000 after buying an additional 1,029,226 shares during the last quarter. Brookstone Capital Management boosted its position in shares of Brocade Communications Systems by 19.7% during the third quarter. Brookstone Capital Management now owns 26,531 shares of the technology company’s stock valued at $317,000 after buying an additional 4,369 shares during the last quarter. Mcdonald Capital Investors Inc. CA boosted its position in shares of Brocade Communications Systems by 16.5% during the third quarter. Mcdonald Capital Investors Inc. CA now owns 36,100 shares of the technology company’s stock valued at $431,000 after buying an additional 5,100 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Brocade Communications Systems during the third quarter valued at $421,000. Finally, Athos Capital Ltd boosted its position in Brocade Communications Systems by 29.2% in the third quarter. Athos Capital Ltd now owns 374,800 shares of the technology company’s stock worth $4,479,000 after purchasing an additional 84,800 shares during the last quarter. 83.18% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “Brocade Communications Systems, Inc. (BRCD) Shares Sold by Gamco Investors INC. ET AL” was reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this piece of content on another website, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece of content can be accessed at https://www.chaffeybreeze.com/2017/11/12/brocade-communications-systems-inc-brcd-shares-sold-by-gamco-investors-inc-et-al.html.

Brocade Communications Systems, Inc. (BRCD) opened at $12.62 on Friday. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $5,222.36, a PE ratio of 39.44, a PEG ratio of 2.90 and a beta of 0.54. Brocade Communications Systems, Inc. has a 1-year low of $11.43 and a 1-year high of $12.72.

Brocade Communications Systems (NASDAQ:BRCD) last issued its earnings results on Thursday, August 24th. The technology company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.12. Brocade Communications Systems had a return on equity of 5.42% and a net margin of 1.30%. The firm had revenue of $549.00 million for the quarter, compared to the consensus estimate of $614.10 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. The company’s revenue was down 7.1% compared to the same quarter last year. sell-side analysts anticipate that Brocade Communications Systems, Inc. will post 0.36 EPS for the current fiscal year.

Several brokerages have issued reports on BRCD. Royal Bank Of Canada reissued a “hold” rating and issued a $12.75 target price on shares of Brocade Communications Systems in a research report on Thursday, November 2nd. Robert W. Baird reaffirmed a “hold” rating and set a $13.00 price objective on shares of Brocade Communications Systems in a research report on Friday, September 29th. BidaskClub raised Brocade Communications Systems from a “sell” rating to a “hold” rating in a research report on Sunday, August 20th. Finally, Zacks Investment Research cut Brocade Communications Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Brocade Communications Systems presently has a consensus rating of “Hold” and a consensus target price 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.

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

Receive News & Ratings for Brocade Communications Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brocade Communications Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply