Cisco Systems’ (CSCO) Buy Rating Reiterated at Oppenheimer Holdings, Inc.
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating reissued by equities research analysts at Oppenheimer Holdings, Inc. in a research note issued to investors on Tuesday. They currently have a $36.00 price target on the network equipment provider’s stock. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 5.42% from the company’s current price.
Other analysts have also issued research reports about the stock. Stifel Nicolaus set a $34.00 target price on shares of Cisco Systems and gave the company a “hold” rating in a research report on Tuesday, August 15th. JMP Securities restated a “market perform” rating on shares of Cisco Systems in a research report on Friday, August 18th. Berenberg Bank restated a “hold” rating and issued a $33.00 target price on shares of Cisco Systems in a research report on Tuesday, October 24th. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $32.45 target price on the stock in a research report on Thursday, July 6th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $35.30.
Cisco Systems (CSCO) traded up 0.32% on Tuesday, reaching $34.15. The company’s stock had a trading volume of 13,935,120 shares. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.73. The firm has a market cap of $169.11 billion, a P/E ratio of 17.97 and a beta of 1.21. The firm’s 50 day moving average is $33.49 and its 200-day moving average is $32.41.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same quarter last year, the business posted $0.63 earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems will post $2.43 EPS for the current year.
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In other Cisco Systems news, SVP Mark D. Chandler sold 65,000 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.43, for a total value of $2,107,950.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Prat Bhatt sold 25,638 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 119,996 shares in the company, valued at $3,847,071.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 485,138 shares of company stock worth $15,347,574. 0.05% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empirical Finance LLC boosted its stake in Cisco Systems by 2.7% in the third quarter. Empirical Finance LLC now owns 76,294 shares of the network equipment provider’s stock valued at $2,566,000 after acquiring an additional 1,971 shares during the last quarter. Country Trust Bank boosted its stake in Cisco Systems by 0.3% in the third quarter. Country Trust Bank now owns 1,238,110 shares of the network equipment provider’s stock valued at $41,638,000 after acquiring an additional 3,376 shares during the last quarter. Lincoln National Corp boosted its stake in Cisco Systems by 46.4% in the third quarter. Lincoln National Corp now owns 34,508 shares of the network equipment provider’s stock valued at $1,160,000 after acquiring an additional 10,932 shares during the last quarter. ST Germain D J Co. Inc. boosted its stake in Cisco Systems by 10.6% in the third quarter. ST Germain D J Co. Inc. now owns 488,751 shares of the network equipment provider’s stock valued at $16,437,000 after acquiring an additional 46,804 shares during the last quarter. Finally, First Capital Advisors Group LLC. purchased a new position in Cisco Systems in the third quarter valued at about $240,000. 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).
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