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Shares of Cisco Systems (NASDAQ:CSCO) saw unusually large options trading on Thursday. Traders purchased 63,732 put options on the stock, Analyst Ratings.Net reports. This is an increase of approximately 203% compared to the average daily volume of 21,012 put options.

A number of research firms have recently commented on CSCO. Analysts at TheStreet reiterated a “buy” rating on shares of Cisco Systems in a research note to investors on Wednesday. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Cisco Systems from a “neutral” rating to an “underweight” rating in a research note to investors on Monday. They now have a $17.00 price target on the stock, down previously from $21.00. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $24.92.

Cisco Systems (NASDAQ:CSCO) traded up 1.51% during mid-day trading on Thursday, hitting $21.976. 42,905,584 shares of the company’s stock traded hands. Cisco Systems has a 52-week low of $19.98 and a 52-week high of $26.49. The stock has a 50-day moving average of $21.87 and a 200-day moving average of $23.21. The company has a market cap of $117.5 billion and a price-to-earnings ratio of 11.77.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.02. The company had revenue of $12.09 billion for the quarter, compared to the consensus estimate of $12.35 billion. During the same quarter last year, the company posted $0.48 earnings per share. Cisco Systems’s revenue was up 1.8% compared to the same quarter last year. Analysts expect that Cisco Systems will post $1.98 EPS for the current fiscal year.

Cisco Systems, Inc designs, manufactures, and sells Internet protocol (NASDAQ:CSCO)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.

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