Cisco Systems’ (CSCO) Buy Rating Reaffirmed at JPMorgan Chase & Co.

Cisco Systems (NASDAQ:CSCO)‘s stock had its “buy” rating restated by equities researchers at JPMorgan Chase & Co. in a report issued on Thursday, TipRanks reports.

Other analysts also recently issued reports about the company. Bank of America reaffirmed a “buy” rating and set a $56.00 price objective on shares of Cisco Systems in a research note on Thursday, February 14th. Jefferies Financial Group upped their price objective on Cisco Systems to $55.00 and gave the company a “buy” rating in a research note on Thursday, February 14th. They noted that the move was a valuation call. Citigroup upped their price objective on Cisco Systems from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, February 14th. Robert W. Baird reaffirmed a “buy” rating and set a $53.00 price objective on shares of Cisco Systems in a research note on Tuesday, February 12th. Finally, Goldman Sachs Group downgraded Cisco Systems from a “conviction-buy” rating to a “buy” rating and upped their price objective for the company from $58.00 to $62.00 in a research note on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and an average price target of $55.52.

Shares of Cisco Systems stock traded up $0.42 on Thursday, hitting $56.35. The stock had a trading volume of 24,898,722 shares, compared to its average volume of 20,932,006. Cisco Systems has a 52-week low of $40.25 and a 52-week high of $57.53. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.74 and a current ratio of 1.80. The company has a market capitalization of $271.47 billion, a P/E ratio of 24.08, a PEG ratio of 2.73 and a beta of 1.21.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Cisco Systems had a return on equity of 28.86% and a net margin of 25.76%. The business had revenue of $12.96 billion during the quarter, compared to the consensus estimate of $12.89 billion. During the same period in the previous year, the business earned $0.66 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, analysts forecast that Cisco Systems will post 2.75 earnings per share for the current year.

Cisco Systems declared that its board has initiated a stock buyback program on Wednesday, February 13th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

In related news, Director Roderick C. Mcgeary sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $49.66, for a total value of $744,900.00. Following the sale, the director now owns 102,898 shares in the company, valued at approximately $5,109,914.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David Goeckeler sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $52.07, for a total value of $1,562,100.00. Following the completion of the sale, the executive vice president now owns 419,439 shares in the company, valued at approximately $21,840,188.73. The disclosure for this sale can be found here. Insiders have sold a total of 115,000 shares of company stock worth $5,926,000 in the last quarter. 0.03% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSCO. James Investment Research Inc. boosted its holdings in shares of Cisco Systems by 5.5% in the 3rd quarter. James Investment Research Inc. now owns 305,825 shares of the network equipment provider’s stock worth $14,878,000 after buying an additional 15,882 shares during the last quarter. Aft Forsyth & Company Inc. boosted its holdings in shares of Cisco Systems by 4.3% in the 3rd quarter. Aft Forsyth & Company Inc. now owns 29,461 shares of the network equipment provider’s stock worth $1,433,000 after buying an additional 1,215 shares during the last quarter. Barings LLC boosted its holdings in shares of Cisco Systems by 5.3% in the 3rd quarter. Barings LLC now owns 269,958 shares of the network equipment provider’s stock worth $13,134,000 after buying an additional 13,482 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Cisco Systems by 0.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 708,733 shares of the network equipment provider’s stock worth $34,480,000 after buying an additional 3,664 shares during the last quarter. Finally, Tarbox Family Office Inc. boosted its holdings in shares of Cisco Systems by 144.3% in the 3rd quarter. Tarbox Family Office Inc. now owns 5,088 shares of the network equipment provider’s stock worth $248,000 after buying an additional 3,005 shares during the last quarter. Institutional investors and hedge funds own 69.04% of the company’s stock.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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