Cisco Systems, Inc. (NASDAQ:CSCO) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a report issued on Monday. They presently have a $33.12 target price on the network equipment provider’s stock. Vetr‘s price target suggests a potential upside of 3.95% from the company’s previous close.

Several other brokerages also recently issued reports on CSCO. BMO Capital Markets downgraded shares of Cisco Systems from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $37.00 to $35.00 in a research report on Tuesday, May 9th. Drexel Hamilton restated a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a research report on Tuesday, May 16th. Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research report on Monday, May 1st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $36.00 price target (down from $37.00) on shares of Cisco Systems in a research report on Thursday, May 18th. Finally, Berenberg Bank initiated coverage on shares of Cisco Systems in a research report on Tuesday, April 4th. They issued a “hold” rating and a $35.00 price target for the company. Thirteen research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $35.31.

Cisco Systems (NASDAQ CSCO) traded up 0.06% during trading on Monday, reaching $31.86. The company’s stock had a trading volume of 15,504,103 shares. The stock has a market cap of $159.30 billion, a P/E ratio of 16.17 and a beta of 1.24. The firm’s 50-day moving average is $31.56 and its 200-day moving average is $32.39. Cisco Systems has a 52-week low of $29.12 and a 52-week high of $34.60.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The firm had revenue of $11.94 billion during the quarter, compared to the consensus estimate of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.57 earnings per share. Equities research analysts forecast that Cisco Systems will post $2.38 EPS for the current year.

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In other news, SVP Karen Walker sold 7,802 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total transaction of $244,124.58. Following the transaction, the senior vice president now owns 178,577 shares in the company, valued at $5,587,674.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Insiders have sold 396,179 shares of company stock worth $12,503,407 in the last quarter. Company insiders own 0.11% of the company’s stock.

Several institutional investors have recently made changes to their positions in CSCO. Lowe FS raised its position in shares of Cisco Systems by 714.3% in the third quarter. Lowe FS now owns 570 shares of the network equipment provider’s stock valued at $15,000 after buying an additional 500 shares in the last quarter. Proficio Capital Partners bought a new position in shares of Cisco Systems during the fourth quarter valued at $31,000. Riggs Asset Managment Co. Inc. raised its position in shares of Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock valued at $102,000 after buying an additional 225 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Cisco Systems by 7.0% in the third quarter. Proficio Capital Partners LLC now owns 3,211 shares of the network equipment provider’s stock valued at $102,000 after buying an additional 210 shares in the last quarter. Finally, Orrstown Financial Services Inc. raised its position in shares of Cisco Systems by 89.3% in the third quarter. Orrstown Financial Services Inc. now owns 3,243 shares of the network equipment provider’s stock valued at $103,000 after buying an additional 1,530 shares in the last quarter. Hedge funds and other institutional investors own 75.39% of the company’s stock.

Cisco Systems Company Profile

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).

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

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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