Cisco Systems, Inc. (NASDAQ:CSCO) has been given a $33.00 price objective by equities researchers at Berenberg Bank in a report released on Thursday. The firm currently has a “hold” rating on the network equipment provider’s stock. Berenberg Bank’s price target suggests a potential upside of 6.31% from the stock’s previous close.

CSCO has been the topic of a number of other research reports. Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research note on Thursday, May 18th. Drexel Hamilton restated a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a research note on Tuesday, May 23rd. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $36.00 price target on shares of Cisco Systems in a research note on Monday, June 26th. Piper Jaffray Companies restated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research note on Thursday. Finally, Jefferies Group LLC restated a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a research note on Wednesday, April 26th. Fourteen research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $35.38.

Cisco Systems (NASDAQ:CSCO) traded down 1.80% during midday trading on Thursday, reaching $30.48. 25,466,949 shares of the company were exchanged. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $34.60. The firm has a market capitalization of $152.19 billion, a PE ratio of 16.04 and a beta of 1.24. The company has a 50-day moving average of $31.51 and a 200 day moving average of $32.56. Cisco Systems also was the target of unusually large options trading on Tuesday. Stock investors acquired 24,568 put options on the company. This represents an increase of approximately 223% compared to the typical daily volume of 7,606 put options.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a return on equity of 17.04% and a net margin of 20.02%. The business had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. Equities analysts predict that Cisco Systems will post $2.45 earnings per share for the current year.

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In other Cisco Systems news, insider John T. Chambers sold 295,537 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total value of $9,315,326.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the sale, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The disclosure for this sale can be found here. Insiders sold a total of 396,179 shares of company stock valued at $12,503,407 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. First Hawaiian Bank bought a new stake in shares of Cisco Systems during the first quarter worth about $215,000. Syntal Capital Partners LLC bought a new stake in shares of Cisco Systems during the first quarter worth about $257,000. Dodge & Cox bought a new stake in shares of Cisco Systems during the fourth quarter worth about $1,950,935,000. Hefty Wealth Partners increased its stake in shares of Cisco Systems by 15,679.3% in the first quarter. Hefty Wealth Partners now owns 68,482 shares of the network equipment provider’s stock worth $2,314,000 after buying an additional 68,048 shares during the period. Finally, Atlas Brown Inc. increased its stake in shares of Cisco Systems by 4.6% in the second quarter. Atlas Brown Inc. now owns 9,777 shares of the network equipment provider’s stock worth $306,000 after buying an additional 430 shares during the period. 75.28% of the stock is owned by institutional investors and hedge funds.

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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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