Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating restated by analysts at Oppenheimer Holdings, Inc. in a note issued to investors on Friday. They presently have a $36.00 price objective on the network equipment provider’s stock. Oppenheimer Holdings, Inc.’s target price suggests a potential upside of 5.11% from the company’s current price.

A number of other brokerages also recently issued reports on CSCO. Instinet reiterated a “neutral” rating and issued a $29.00 price target on shares of Cisco Systems in a research note on Monday, July 3rd. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Cisco Systems in a research note on Monday, June 26th. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $33.39 price target for the company in a research note on Monday, July 17th. Stifel Nicolaus set a $34.00 price target on shares of Cisco Systems and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $32.00 price target on shares of Cisco Systems in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $35.30.

Cisco Systems (NASDAQ CSCO) traded up 1.48% during midday trading on Friday, reaching $34.25. 24,361,352 shares of the company were exchanged. The firm has a 50-day moving average price of $32.99 and a 200-day moving average price of $32.34. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $34.60. The company has a market capitalization of $169.60 billion, a PE ratio of 18.03 and a beta of 1.21.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. Equities research analysts anticipate that Cisco Systems will post $2.43 earnings per share for the current fiscal year.

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In related news, CAO Prat Bhatt sold 25,638 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the completion of the sale, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Karen Walker sold 23,110 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $740,906.60. Following the sale, the senior vice president now directly owns 192,774 shares of the company’s stock, valued at approximately $6,180,334.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 485,138 shares of company stock worth $15,347,574. Insiders own 0.11% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Cisco Systems by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after purchasing an additional 7,411,891 shares in the last quarter. Nordea Investment Management AB increased its position in Cisco Systems by 12.1% during the 2nd quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock worth $982,703,000 after purchasing an additional 3,384,768 shares in the last quarter. Boston Partners increased its position in Cisco Systems by 304.2% during the 1st quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after purchasing an additional 23,002,159 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Cisco Systems by 11.6% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock worth $862,949,000 after purchasing an additional 2,863,474 shares in the last quarter. Finally, LSV Asset Management increased its position in Cisco Systems by 0.5% during the 2nd quarter. LSV Asset Management now owns 27,453,460 shares of the network equipment provider’s stock worth $859,293,000 after purchasing an additional 134,162 shares in the last quarter. 75.32% of the stock is 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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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