Cisco Systems (NASDAQ:CSCO) Price Target Raised to $38.00 at MKM Partners

Cisco Systems (NASDAQ:CSCO) had its target price lifted by stock analysts at MKM Partners to $38.00 in a research note issued to investors on Thursday, November 16th. The firm currently has a “neutral” rating on the network equipment provider’s stock. MKM Partners’ price objective indicates a potential upside of 1.06% from the company’s previous close.

Several other research firms also recently weighed in on CSCO. Vetr downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.12 price target for the company. in a research note on Monday, July 24th. BMO Capital Markets reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Friday, July 28th. BidaskClub lowered shares of Cisco Systems from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Deutsche Bank set a $40.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.80.

Cisco Systems (NASDAQ CSCO) opened at $37.60 on Thursday. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39. Cisco Systems has a 12-month low of $29.12 and a 12-month high of $38.03. The firm has a market capitalization of $184,397.09, a PE ratio of 17.19, a PEG ratio of 3.37 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The firm had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 EPS. sell-side analysts forecast that Cisco Systems will post 2.21 EPS for the current year.

In related news, CAO Prat Bhatt sold 2,606 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $95,092.94. Following the transaction, the chief accounting officer now directly owns 89,184 shares of the company’s stock, valued at approximately $3,254,324.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John T. Chambers sold 250,000 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the insider now directly owns 712,736 shares in the company, valued at $26,014,864. The disclosure for this sale can be found here. Insiders sold a total of 493,530 shares of company stock worth $16,993,798 over the last 90 days. Company insiders own 0.05% of the company’s stock.

A number of institutional investors have recently modified their holdings of CSCO. Hamlin Capital Management LLC lifted its stake in shares of Cisco Systems by 9.5% in the 1st quarter. Hamlin Capital Management LLC now owns 2,476,478 shares of the network equipment provider’s stock worth $83,705,000 after acquiring an additional 214,475 shares during the period. Smith Chas P & Associates PA Cpas lifted its stake in shares of Cisco Systems by 2.3% in the 1st quarter. Smith Chas P & Associates PA Cpas now owns 600,236 shares of the network equipment provider’s stock worth $20,288,000 after acquiring an additional 13,643 shares during the period. Argyle Capital Management Inc. lifted its stake in shares of Cisco Systems by 0.6% in the 1st quarter. Argyle Capital Management Inc. now owns 85,520 shares of the network equipment provider’s stock worth $2,891,000 after acquiring an additional 500 shares during the period. Greenwich Wealth Management LLC lifted its stake in shares of Cisco Systems by 64.9% in the first quarter. Greenwich Wealth Management LLC now owns 450,584 shares of the network equipment provider’s stock valued at $15,230,000 after purchasing an additional 177,314 shares during the period. Finally, Hudock Capital Group LLC lifted its stake in shares of Cisco Systems by 22.9% in the first quarter. Hudock Capital Group LLC now owns 45,940 shares of the network equipment provider’s stock valued at $1,552,000 after purchasing an additional 8,567 shares during the period. 75.66% of the stock is currently owned by institutional investors.

WARNING: “Cisco Systems (NASDAQ:CSCO) Price Target Raised to $38.00 at MKM Partners” was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this report on another website, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2017/12/02/cisco-systems-inc-csco-pt-raised-to-38-00-at-mkm-partners.html.

About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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

Leave a Reply