Cisco Systems, Inc. (NASDAQ:CSCO) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They currently have a $33.12 price target on the network equipment provider’s stock. Vetr‘s price target points to a potential upside of 3.95% from the company’s current price.
A number of other research firms have also recently weighed in on CSCO. BMO Capital Markets cut Cisco Systems from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $37.00 to $35.00 in a report on Tuesday, May 9th. Drexel Hamilton restated a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a report on Tuesday, May 16th. Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a report on Monday, May 1st. Royal Bank Of Canada restated an “outperform” rating and issued a $36.00 price target (down previously from $37.00) on shares of Cisco Systems in a report on Thursday, May 18th. Finally, Berenberg Bank began coverage on Cisco Systems in a report on Tuesday, April 4th. They issued a “hold” rating and a $35.00 price target on the stock. Thirteen investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $35.31.
Cisco Systems (NASDAQ CSCO) traded up 0.06% during trading on Monday, hitting $31.86. The stock had a trading volume of 15,504,103 shares. The company has a market cap of $159.30 billion, a PE ratio of 16.17 and a beta of 1.24. The company’s 50 day moving average is $31.56 and its 200-day moving average is $32.39. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $11.94 billion for the quarter, compared to analysts’ expectations of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. On average, equities research analysts predict that Cisco Systems will post $2.38 earnings per share for the current year.
In other news, insider John T. Chambers sold 295,537 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total transaction of $9,315,326.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Karen Walker sold 7,802 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total value of $244,124.58. Following the sale, the senior vice president now owns 178,577 shares of the company’s stock, valued at $5,587,674.33. The disclosure for this sale can be found here. Insiders have sold 396,179 shares of company stock valued at $12,503,407 over the last 90 days. Insiders own 0.11% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Barings LLC boosted its position in shares of Cisco Systems by 14.9% in the fourth quarter. Barings LLC now owns 254,366 shares of the network equipment provider’s stock valued at $7,687,000 after buying an additional 32,900 shares during the last quarter. Santa Barbara Asset Management LLC bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $58,476,000. Mayo Investment Advisers LLC boosted its position in shares of Cisco Systems by 12.2% in the fourth quarter. Mayo Investment Advisers LLC now owns 456,250 shares of the network equipment provider’s stock valued at $13,788,000 after buying an additional 49,450 shares during the last quarter. Asset Management Group Inc. boosted its position in shares of Cisco Systems by 0.8% in the fourth quarter. Asset Management Group Inc. now owns 13,196 shares of the network equipment provider’s stock valued at $399,000 after buying an additional 107 shares during the last quarter. Finally, First Hawaiian Bank bought a new position in shares of Cisco Systems during the first quarter valued at approximately $215,000. Institutional investors own 75.39% of the company’s stock.
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).
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.