Cisco Systems (CSCO) PT Raised to $51.00 at Morgan Stanley

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Cisco Systems (NASDAQ:CSCO) had its target price raised by Morgan Stanley from $49.00 to $51.00 in a research note published on Thursday, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the network equipment provider’s stock.

A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Cisco Systems from a buy rating to a hold rating in a report on Thursday. Credit Suisse Group reissued a neutral rating and issued a $52.00 price objective (up previously from $47.00) on shares of Cisco Systems in a report on Thursday. William Blair reissued an outperform rating on shares of Cisco Systems in a report on Thursday. Jefferies Financial Group reissued a buy rating and issued a $62.00 price objective (up previously from $55.00) on shares of Cisco Systems in a report on Thursday. They noted that the move was a valuation call. Finally, Piper Jaffray Companies upped their price objective on shares of Cisco Systems from $52.00 to $58.00 and gave the company an overweight rating in a report on Thursday. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Cisco Systems has an average rating of Buy and an average price target of $55.26.

Shares of CSCO traded up $0.51 during mid-day trading on Thursday, reaching $56.44. The stock had a trading volume of 1,183,431 shares, compared to its average volume of 19,828,814. The company has a current ratio of 1.80, a quick ratio of 1.74 and a debt-to-equity ratio of 0.39. Cisco Systems has a 52-week low of $40.25 and a 52-week high of $57.53. The firm has a market capitalization of $252.63 billion, a P/E ratio of 24.06, a P/E/G ratio of 2.73 and a beta of 1.21.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. Cisco Systems had a net margin of 25.76% and a return on equity of 28.86%. The firm had revenue of $12.96 billion during the quarter, compared to analyst estimates of $12.89 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Cisco Systems’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts predict that Cisco Systems will post 2.75 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 13th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

In other Cisco Systems news, Director Roderick C. Mcgeary sold 15,000 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $49.66, for a total transaction of $744,900.00. Following the completion of the transaction, the director now owns 102,898 shares of the company’s stock, valued at $5,109,914.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $51.70, for a total transaction of $3,619,000.00. Following the transaction, the chief financial officer now directly owns 420,696 shares of the company’s stock, valued at approximately $21,749,983.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,000 shares of company stock valued at $5,926,000. 0.03% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of CSCO. Castle Rock Wealth Management LLC acquired a new stake in Cisco Systems in the first quarter valued at approximately $18,277,000. Stone House Investment Management LLC acquired a new stake in Cisco Systems in the first quarter valued at approximately $27,000. Phocas Financial Corp. acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $26,000. Lucia Wealth Services LLC raised its holdings in Cisco Systems by 435.5% in the first quarter. Lucia Wealth Services LLC now owns 664 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 540 shares in the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in Cisco Systems in the fourth quarter valued at approximately $29,000. 69.04% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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