Cisco Systems, Inc. (NASDAQ:CSCO) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Monday. They presently have a $35.13 target price on the network equipment provider’s stock. Vetr‘s price objective indicates a potential upside of 11.21% from the stock’s current price.

A number of other analysts also recently commented on the stock. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $36.00 target price on shares of Cisco Systems in a report on Monday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $33.00 target price on shares of Cisco Systems in a report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Monday. Credit Suisse Group AG reiterated an “outperform” rating and issued a $40.00 target price on shares of Cisco Systems in a report on Monday. Finally, Barclays PLC reiterated an “overweight” rating and issued a $34.00 target price on shares of Cisco Systems in a report on Monday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $35.19.

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

Cisco Systems (NASDAQ:CSCO) traded up 1.22% during mid-day trading on Monday, hitting $31.59. 35,085,249 shares of the stock traded hands. Cisco Systems has a 12-month low of $27.13 and a 12-month high of $34.60. The firm has a market cap of $158.11 billion, a PE ratio of 16.04 and a beta of 1.36. The stock has a 50 day moving average price of $33.29 and a 200 day moving average price of $32.06.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The company had revenue of $11.94 billion for the quarter, compared to the consensus estimate of $11.90 billion. During the same period in the previous year, the firm earned $0.57 EPS. Cisco Systems’s revenue was down .5% on a year-over-year basis. On average, analysts expect that Cisco Systems will post $2.38 earnings per share for the current fiscal year.

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In related news, EVP Chris Dedicoat sold 34,597 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $34.12, for a total transaction of $1,180,449.64. Following the completion of the sale, the executive vice president now directly owns 229,344 shares of the company’s stock, valued at approximately $7,825,217.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John T. Chambers sold 295,538 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $34.06, for a total transaction of $10,066,024.28. Following the sale, the insider now directly owns 1,220,581 shares of the company’s stock, valued at $41,572,988.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 371,807 shares of company stock valued at $12,668,893. 0.11% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Cubic Asset Management LLC boosted its position in Cisco Systems by 59.0% in the third quarter. Cubic Asset Management LLC now owns 12,821 shares of the network equipment provider’s stock valued at $407,000 after buying an additional 4,755 shares during the last quarter. Bank of The West boosted its position in Cisco Systems by 15.7% in the third quarter. Bank of The West now owns 97,929 shares of the network equipment provider’s stock valued at $3,106,000 after buying an additional 13,260 shares during the last quarter. Lingohr & Partner Asset Management GmbH boosted its position in Cisco Systems by 99.9% in the third quarter. Lingohr & Partner Asset Management GmbH now owns 44,168 shares of the network equipment provider’s stock valued at $1,401,000 after buying an additional 22,076 shares during the last quarter. NBT Bank N A NY boosted its position in Cisco Systems by 1.0% in the third quarter. NBT Bank N A NY now owns 176,895 shares of the network equipment provider’s stock valued at $5,611,000 after buying an additional 1,727 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Cisco Systems by 2.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 920,964 shares of the network equipment provider’s stock valued at $29,213,000 after buying an additional 26,268 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

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).

12 Month Chart for NASDAQ:CSCO

To view Vetr’s full report, visit Vetr’s official website.

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