Cisco Systems, Inc. (NASDAQ:CSCO) Receives $62.44 Consensus Target Price from Brokerages

Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) has been given an average recommendation of “Hold” by the twenty-eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $55.09.

CSCO has been the subject of a number of recent research reports. Citigroup decreased their price target on shares of Cisco Systems from $45.00 to $40.00 and set a “sell” rating for the company in a research note on Thursday, May 19th. Raymond James reduced their target price on shares of Cisco Systems from $64.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, February 17th. UBS Group reduced their target price on shares of Cisco Systems from $59.00 to $46.00 and set a “neutral” rating for the company in a research note on Thursday, May 19th. Wells Fargo & Company reduced their target price on shares of Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, May 19th. Finally, Cowen raised their price objective on shares of Cisco Systems from $61.00 to $66.00 in a research note on Thursday, February 17th.

Shares of NASDAQ CSCO traded up $0.23 during mid-day trading on Wednesday, reaching $44.00. The company had a trading volume of 25,495,859 shares, compared to its average volume of 23,127,068. The company has a current ratio of 1.49, a quick ratio of 1.34 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $51.41 and a two-hundred day simple moving average of $55.36. The stock has a market cap of $182.78 billion, a P/E ratio of 15.44, a PEG ratio of 2.07 and a beta of 0.99. Cisco Systems has a 52-week low of $41.02 and a 52-week high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. During the same quarter in the previous year, the company posted $0.75 earnings per share. On average, equities analysts expect that Cisco Systems will post 3.1 EPS for the current year.

Cisco Systems announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 16th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

In other news, SVP Prat Bhatt sold 3,700 shares of Cisco Systems stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $43.34, for a total transaction of $160,358.00. Following the transaction, the senior vice president now owns 80,784 shares in the company, valued at approximately $3,501,178.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 15,382 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $53.86, for a total value of $828,474.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,027 shares of company stock valued at $1,791,283. 0.02% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSCO. Vanguard Group Inc. increased its position in shares of Cisco Systems by 8.9% during the 1st quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock worth $20,568,578,000 after purchasing an additional 30,181,146 shares during the last quarter. BlackRock Inc. increased its position in shares of Cisco Systems by 0.3% during the 1st quarter. BlackRock Inc. now owns 351,582,807 shares of the network equipment provider’s stock worth $19,604,258,000 after purchasing an additional 1,178,419 shares during the last quarter. State Street Corp increased its position in shares of Cisco Systems by 2.2% during the 1st quarter. State Street Corp now owns 190,142,222 shares of the network equipment provider’s stock worth $10,602,330,000 after purchasing an additional 4,017,068 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Cisco Systems by 5.8% during the 3rd quarter. Wellington Management Group LLP now owns 93,121,610 shares of the network equipment provider’s stock worth $5,068,609,000 after purchasing an additional 5,079,220 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Cisco Systems by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 73,136,734 shares of the network equipment provider’s stock worth $4,623,101,000 after acquiring an additional 1,380,066 shares during the last quarter. Hedge funds and other institutional investors own 73.18% of the company’s stock.

Cisco Systems Company Profile (Get Rating)

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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