Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “hold” rating reissued by stock analysts at Needham & Company LLC in a report issued on Tuesday.

Several other analysts also recently commented on CSCO. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Cisco Systems in a research note on Monday, June 26th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $37.50 price objective on shares of Cisco Systems in a research note on Monday, June 26th. Credit Suisse Group reissued an “outperform” rating and issued a $40.00 price target on shares of Cisco Systems in a research note on Monday, June 26th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $36.00 price target on shares of Cisco Systems in a research note on Monday, June 26th. Finally, BidaskClub raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $35.30.

Cisco Systems (NASDAQ:CSCO) traded up 0.67% during mid-day trading on Tuesday, hitting $34.58. The stock had a trading volume of 15,605,782 shares. Cisco Systems has a 1-year low of $29.12 and a 1-year high of $34.68. The stock has a 50 day moving average of $33.11 and a 200-day moving average of $32.35. The firm has a market cap of $171.24 billion, a P/E ratio of 18.20 and a beta of 1.21.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The business had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. Analysts predict that Cisco Systems will post $2.43 EPS for the current fiscal year.

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

Hedge funds have recently added to or reduced their stakes in the company. Barnett & Company Inc. boosted its position in shares of Cisco Systems by 1,511.5% during the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after purchasing an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC boosted its position in shares of Cisco Systems by 36.1% during the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after purchasing an additional 878 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in shares of Cisco Systems during the 2nd quarter worth about $104,000. Grove Bank & Trust boosted its position in shares of Cisco Systems by 141.3% during the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 2,120 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its position in shares of Cisco Systems by 10.7% during the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 350 shares in the last quarter. 75.35% of the stock is currently owned by 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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