Cisco Systems (NASDAQ:CSCO) Price Target Increased to $55.00 by Analysts at Robert W. Baird

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Cisco Systems (NASDAQ:CSCO) had its target price lifted by analysts at Robert W. Baird from $52.00 to $55.00 in a research report issued on Thursday, AnalystRatings.com reports. The firm presently has an “outperform” rating on the network equipment provider’s stock. Robert W. Baird’s price objective suggests a potential upside of 17.18% from the stock’s current price.

A number of other brokerages have also recently issued reports on CSCO. UBS Group reiterated a “buy” rating and issued a $54.00 price target (down previously from $58.00) on shares of Cisco Systems in a research note on Thursday, November 14th. Citigroup lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $56.00 to $52.00 in a research note on Wednesday, January 8th. Royal Bank of Canada set a $56.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a report on Wednesday, November 13th. William Blair reiterated a “market perform” rating on shares of Cisco Systems in a research note on Thursday, November 14th. Finally, Piper Jaffray Companies cut shares of Cisco Systems from an “overweight” rating to a “neutral” rating and cut their price target for the company from $55.00 to $51.00 in a report on Monday, November 11th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and an average target price of $54.28.

Shares of CSCO stock traded down $2.99 during trading hours on Thursday, hitting $46.94. 15,031,609 shares of the company’s stock traded hands, compared to its average volume of 18,111,512. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 0.42. The stock has a market cap of $207.32 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 2.84 and a beta of 1.22. The stock’s fifty day simple moving average is $47.92 and its two-hundred day simple moving average is $47.96. Cisco Systems has a 12-month low of $43.40 and a 12-month high of $58.26.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.01. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The business had revenue of $12 billion during the quarter, compared to analysts’ expectations of $11.98 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts forecast that Cisco Systems will post 2.94 earnings per share for the current fiscal year.

In related news, EVP Irving Tan sold 10,733 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $44.81, for a total transaction of $480,945.73. Following the completion of the sale, the executive vice president now directly owns 172,199 shares in the company, valued at $7,716,237.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 12,597 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $44.81, for a total transaction of $564,471.57. The disclosure for this sale can be found here. Insiders sold 388,864 shares of company stock valued at $17,474,321 in the last ninety days. 0.03% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of CSCO. State Street Corp lifted its stake in shares of Cisco Systems by 0.6% during the 4th quarter. State Street Corp now owns 187,545,264 shares of the network equipment provider’s stock valued at $8,994,671,000 after buying an additional 1,132,414 shares in the last quarter. FMR LLC lifted its position in shares of Cisco Systems by 13.1% in the fourth quarter. FMR LLC now owns 36,607,406 shares of the network equipment provider’s stock valued at $1,755,691,000 after acquiring an additional 4,244,954 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Cisco Systems by 2.8% in the third quarter. Fisher Asset Management LLC now owns 30,517,061 shares of the network equipment provider’s stock valued at $1,507,848,000 after acquiring an additional 839,300 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Cisco Systems by 13.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 21,589,214 shares of the network equipment provider’s stock worth $1,066,724,000 after acquiring an additional 2,496,113 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Cisco Systems by 1.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,887,544 shares of the network equipment provider’s stock worth $851,626,000 after acquiring an additional 288,013 shares during the period. 72.57% of the stock is owned by hedge funds and other institutional investors.

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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