Cisco Systems, Inc. (CSCO) Receives “Neutral” Rating from MKM Partners
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “neutral” rating reaffirmed by research analysts at MKM Partners in a research note issued to investors on Friday. They presently have a $34.00 price objective on the network equipment provider’s stock, down from their previous price objective of $35.00. MKM Partners’ price objective would indicate a potential upside of 8.94% from the stock’s current price.
Other research analysts have also recently issued research reports about the company. Robert W. Baird reiterated a “buy” rating on shares of Cisco Systems in a report on Wednesday, January 25th. Pacific Crest set a $33.00 target price on Cisco Systems and gave the company a “buy” rating in a report on Wednesday, January 25th. Drexel Hamilton reiterated a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a report on Saturday, January 28th. Oppenheimer Holdings Inc. set a $34.00 target price on Cisco Systems and gave the company a “buy” rating in a report on Tuesday, January 24th. Finally, Deutsche Bank AG set a $37.00 target price on Cisco Systems and gave the company a “buy” rating in a report on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $35.05.
Shares of Cisco Systems (NASDAQ:CSCO) traded down 0.54% during midday trading on Friday, reaching $31.21. The company’s stock had a trading volume of 39,859,249 shares. The firm’s 50 day moving average is $33.35 and its 200 day moving average is $32.03. Cisco Systems has a 52 week low of $27.13 and a 52 week high of $34.60. The firm has a market capitalization of $156.21 billion, a price-to-earnings ratio of 15.84 and a beta of 1.36.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The firm had revenue of $11.94 billion for the quarter, compared to analysts’ expectations of $11.90 billion. During the same quarter last year, the firm earned $0.57 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts forecast that Cisco Systems will post $2.38 EPS for the current fiscal year.
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In other news, Director Steven M. West bought 3,027 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were purchased at an average price of $33.92 per share, with a total value of $102,675.84. Following the completion of the acquisition, the director now directly owns 3,700 shares in the company, valued at $125,504. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark D. Chandler sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $34.04, for a total value of $544,640.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 371,807 shares of company stock worth $12,668,893. 0.11% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in CSCO. RS Investment Management Co. LLC boosted its stake in shares of Cisco Systems by 18.7% in the second quarter. RS Investment Management Co. LLC now owns 28,333 shares of the network equipment provider’s stock valued at $813,000 after buying an additional 4,458 shares during the last quarter. British Columbia Investment Management Corp boosted its stake in shares of Cisco Systems by 4.4% in the second quarter. British Columbia Investment Management Corp now owns 3,099,966 shares of the network equipment provider’s stock valued at $88,938,000 after buying an additional 129,545 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Cisco Systems by 3.8% in the second quarter. Eagle Asset Management Inc. now owns 5,101,847 shares of the network equipment provider’s stock valued at $146,372,000 after buying an additional 189,013 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of Cisco Systems by 16.0% in the first quarter. Primecap Management Co. CA now owns 29,127,015 shares of the network equipment provider’s stock valued at $829,246,000 after buying an additional 4,013,625 shares during the last quarter. Finally, Rockefeller Financial Services Inc. boosted its stake in shares of Cisco Systems by 12.8% in the second quarter. Rockefeller Financial Services Inc. now owns 439,424 shares of the network equipment provider’s stock valued at $12,607,000 after buying an additional 50,020 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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