Cisco Systems (CSCO) PT Raised to $33.00

Cisco Systems (NASDAQ:CSCO) had its price target increased by Nomura from $29.00 to $33.00 in a report published on Thursday, November 16th. Nomura currently has a neutral rating on the network equipment provider’s stock.

Several other equities research analysts also recently issued reports on the company. Vetr downgraded Cisco Systems from a buy rating to a hold rating and set a $33.18 price target for the company. in a report on Wednesday, August 30th. Credit Suisse Group reaffirmed an outperform rating on shares of Cisco Systems in a report on Thursday, August 31st. Oppenheimer reissued a buy rating and set a $36.00 target price on shares of Cisco Systems in a report on Friday, October 20th. Robert W. Baird reissued a buy rating and set a $38.00 target price on shares of Cisco Systems in a report on Monday, September 11th. Finally, Wells Fargo & Company reissued an outperform rating and set a $42.00 target price on shares of Cisco Systems in a report on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently 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 firm has a market cap of $185,880.19, a P/E ratio of 17.33, a PEG ratio of 3.40 and a beta of 1.19. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $38.03. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The business had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the business earned $0.61 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. equities research analysts predict that Cisco Systems will post 2.21 earnings per share for the current fiscal year.

In other news, SVP Karen Walker sold 5,786 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total transaction of $211,131.14. Following the sale, the senior vice president now directly owns 176,418 shares in the company, valued at $6,437,492.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the sale, the insider now owns 712,736 shares in the company, valued at $26,014,864. The disclosure for this sale can be found here. In the last quarter, insiders sold 493,530 shares of company stock worth $16,993,798. Company insiders own 0.05% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Richard Bernstein Advisors LLC lifted its stake in shares of Cisco Systems by 21.2% in the second quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after acquiring an additional 47,211 shares during the period. Stratos Wealth Partners LTD. lifted its stake in shares of Cisco Systems by 10.4% in the second quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock worth $4,789,000 after acquiring an additional 14,395 shares during the period. Eads & Heald Investment Counsel lifted its stake in shares of Cisco Systems by 15.7% in the second quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock worth $1,329,000 after acquiring an additional 5,765 shares during the period. Washington Trust Bank lifted its stake in shares of Cisco Systems by 2.5% in the second quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock worth $3,542,000 after acquiring an additional 2,726 shares during the period. Finally, Holderness Investments Co. lifted its stake in shares of Cisco Systems by 12.1% in the first quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock worth $2,256,000 after acquiring an additional 7,186 shares during the period. Institutional investors own 75.66% of the company’s stock.

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Cisco Systems Company Profile

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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