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.
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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).
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