Cisco Systems (NASDAQ:CSCO) Given New $38.00 Price Target at MKM Partners

Cisco Systems (NASDAQ:CSCO) had its target price increased by investment analysts at MKM Partners to $38.00 in a report released on Thursday, November 16th. The brokerage currently has a “neutral” rating on the network equipment provider’s stock. MKM Partners’ target price indicates a potential upside of 1.06% from the company’s current price.

Several other equities analysts have also recently issued reports on CSCO. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $33.12 target price on the stock. in a research note on Monday, July 24th. BMO Capital Markets reissued a “hold” rating on shares of Cisco Systems in a research note on Friday, July 28th. BidaskClub cut Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Deutsche Bank set a $40.00 target price on Cisco Systems and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Jefferies Group reissued a “buy” rating and set a $37.00 target price on shares of Cisco Systems in a research note on Thursday, August 3rd. Two equities research 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 company’s stock. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $36.80.

Cisco Systems (NASDAQ CSCO) opened at $37.60 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81. The company has a market capitalization of $185,880.19, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 3.40 and a beta of 1.19. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $38.03.

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, topping the Zacks’ consensus estimate of $0.60 by $0.01. The business had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. equities analysts predict that Cisco Systems will post 2.21 earnings per share for the current fiscal year.

In other Cisco Systems news, CAO Prat Bhatt sold 2,606 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $95,092.94. Following the sale, the chief accounting officer now directly owns 89,184 shares of the company’s stock, valued at $3,254,324.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Karen Walker sold 23,110 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $740,906.60. Following the completion of the sale, the senior vice president now directly owns 192,774 shares in the company, valued at $6,180,334.44. The disclosure for this sale can be found here. Insiders sold 493,530 shares of company stock worth $16,993,798 over the last three months. Corporate insiders own 0.05% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Sage Capital Advisors llc purchased a new stake in Cisco Systems during the third quarter valued at $227,000. Shelton Capital Management increased its position in Cisco Systems by 2.5% during the third quarter. Shelton Capital Management now owns 459,213 shares of the network equipment provider’s stock valued at $15,443,000 after acquiring an additional 11,097 shares during the last quarter. Burgundy Asset Management Ltd. increased its position in Cisco Systems by 0.3% during the third quarter. Burgundy Asset Management Ltd. now owns 7,943,918 shares of the network equipment provider’s stock valued at $267,154,000 after acquiring an additional 21,836 shares during the last quarter. Institutional & Family Asset Management LLC increased its position in Cisco Systems by 2.7% during the third quarter. Institutional & Family Asset Management LLC now owns 108,928 shares of the network equipment provider’s stock valued at $3,663,000 after acquiring an additional 2,845 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Cisco Systems during the third quarter valued at $4,114,000. Hedge funds and other institutional investors own 75.66% of the company’s stock.

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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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