Cisco Systems (NASDAQ:CSCO) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of Cisco Systems (NASDAQ:CSCO) from a sell rating to a hold rating in a research note published on Tuesday morning, BidAskClub reports.

CSCO has been the subject of several other reports. Nomura lifted their price objective on shares of Cisco Systems from $43.00 to $46.00 and gave the stock a neutral rating in a research report on Thursday, May 14th. UBS Group cut their price target on shares of Cisco Systems from $54.00 to $51.00 and set a buy rating on the stock in a research note on Thursday, May 14th. Argus reiterated a buy rating on shares of Cisco Systems in a research note on Thursday, March 26th. TheStreet lowered shares of Cisco Systems from a b rating to a c+ rating in a research note on Thursday, March 12th. Finally, Nomura Securities cut their price target on shares of Cisco Systems from $47.00 to $43.00 and set a neutral rating on the stock in a research note on Monday, March 23rd. Sixteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $50.13.

Shares of Cisco Systems stock traded up $0.26 during trading on Tuesday, hitting $44.90. 12,586,404 shares of the stock were exchanged, compared to its average volume of 23,101,742. The stock has a market cap of $191.86 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.94 and a beta of 0.97. The firm’s 50-day moving average price is $41.98 and its 200 day moving average price is $44.22. Cisco Systems has a 12-month low of $32.40 and a 12-month high of $58.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 1.55.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.10. The business had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.87 billion. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. During the same period in the previous year, the company earned $0.78 EPS. As a group, research analysts forecast that Cisco Systems will post 2.86 earnings per share for the current year.

In other news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $41.17, for a total value of $2,881,900.00. Following the sale, the chief financial officer now owns 308,241 shares of the company’s stock, valued at $12,690,281.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.03% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Boston Private Wealth LLC boosted its holdings in shares of Cisco Systems by 3.4% in the fourth quarter. Boston Private Wealth LLC now owns 316,192 shares of the network equipment provider’s stock valued at $15,164,000 after acquiring an additional 10,393 shares in the last quarter. Bogart Wealth LLC boosted its holdings in Cisco Systems by 3.5% during the fourth quarter. Bogart Wealth LLC now owns 55,270 shares of the network equipment provider’s stock worth $2,651,000 after buying an additional 1,845 shares in the last quarter. North Star Investment Management Corp. boosted its holdings in Cisco Systems by 1.7% during the fourth quarter. North Star Investment Management Corp. now owns 43,352 shares of the network equipment provider’s stock worth $2,079,000 after buying an additional 709 shares in the last quarter. Level Four Advisory Services LLC boosted its holdings in Cisco Systems by 13.9% during the fourth quarter. Level Four Advisory Services LLC now owns 105,268 shares of the network equipment provider’s stock worth $14,545,000 after buying an additional 12,851 shares in the last quarter. Finally, Cairn Investment Group Inc. purchased a new stake in Cisco Systems during the fourth quarter worth about $937,000. 70.94% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also: Example of operating income, EBIT and EBITDA

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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