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Cisco Systems (NASDAQ:CSCO) SVP Charles Robbins sold 27,858 shares of the stock on the open market in a transaction dated Monday, June 16th. The stock was sold at an average price of $24.51, for a total transaction of $682,799.58. Following the completion of the transaction, the senior vice president now directly owns 530,297 shares of the company’s stock, valued at approximately $12,997,579. The transaction was disclosed in a filing with the SEC, which is available at this link.

Cisco Systems (NASDAQ:CSCO) traded up 0.53% on Wednesday, hitting $24.63. The stock had a trading volume of 24,723,704 shares. Cisco Systems has a 52 week low of $20.22 and a 52 week high of $26.49. The stock has a 50-day moving average of $24.04 and a 200-day moving average of $22.60. The company has a market cap of $126.2 billion and a P/E ratio of 16.53. Cisco Systems also saw a large decrease in short interest in May. As of May 30th, there was short interest totalling 65,847,388 shares, a decrease of 13.0% from the May 15th total of 75,663,677 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average trading volume of 36,898,009 shares, the short-interest ratio is presently 1.8 days.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.48 by $0.03. The company had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.38 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, analysts predict that Cisco Systems will post $2.04 earnings per share for the current fiscal year.

Several analysts have recently commented on the stock. Analysts at Morgan Stanley initiated coverage on shares of Cisco Systems in a research note on Wednesday. They set an “overweight” rating and a $30.00 price target on the stock. Separately, analysts at Deutsche Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, May 27th. They now have a $30.00 price target on the stock, up previously from $25.00. Finally, analysts at ISI Group reiterated a “buy” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. They now have a $28.00 price target on the stock, up previously from $25.00. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the company. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $26.31.

Cisco Systems, Inc (NASDAQ:CSCO) designs, manufactures, and sells Internet protocol (IP)-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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