Brocade Communications Systems (BRCD) : Ramsey Quantitative Systems scooped up 86,976 additional shares in Brocade Communications Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 144,361 shares of Brocade Communications Systems which is valued at $1,166,437.Brocade Communications Systems makes up approximately 1.20% of Ramsey Quantitative Systems’s portfolio.
Brocade Communications Systems opened for trading at $7.94 and hit $8.08 on the upside on Friday, eventually ending the session at $8.08, with a gain of 0.75% or 0.06 points. The heightened volatility saw the trading volume jump to 54,20,982 shares. Company has a market cap of $3,237 M.
Other Hedge Funds, Including , Rhumbline Advisers boosted its stake in BRCD in the latest quarter, The investment management firm added 2,868 additional shares and now holds a total of 320,485 shares of Brocade Communications Systems which is valued at $2,589,519. Brocade Communications Systems makes up approx 0.01% of Rhumbline Advisers’s portfolio. New Century Investment Management Inc added BRCD to its portfolio by purchasing 70,400 company shares during the most recent quarter which is valued at $676,544. Brocade Communications Systems makes up approx 0.33% of New Century Investment Management Inc’s portfolio. Integrated Wealth Management sold out all of its stake in BRCD during the most recent quarter. The investment firm sold 197 shares of BRCD which is valued $1,909.Saddle Road Partners boosted its stake in BRCD in the latest quarter, The investment management firm added 6,227 additional shares and now holds a total of 79,058 shares of Brocade Communications Systems which is valued at $766,072. Brocade Communications Systems makes up approx 0.17% of Saddle Road Partners’s portfolio.
On the company’s financial health, Brocade Communications Systems reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Feb 17, 2016. Analyst had a consensus of $0.24. The company had revenue of $574.00 million for the quarter, compared to analysts expectations of $561.29 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.
Many Wall Street Analysts have commented on Brocade Communications Systems. Shares were Downgraded by Wunderlich on May 3, 2016 to ” Hold” and Lowered the Price Target to $ 9 from a previous price target of $10.50 .RBC Capital Mkts Resumed Brocade Communications Systems on Mar 16, 2016 to “Sector Perform”, Price Target of the shares are set at $11.Company shares were Upgraded by Wunderlich on Feb 18, 2016 to ” Buy”, Firm has raised the Price Target to $ 10.50 from a previous price target of $9.50 .
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.