Cisco Systems (NASDAQ:CSCO) Raised to Buy at Vetr

Vetr upgraded shares of Cisco Systems (NASDAQ:CSCO) from a hold rating to a buy rating in a report issued on Monday, November 13th. The brokerage currently has $35.49 target price on the network equipment provider’s stock.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus set a $34.00 price objective on shares of Cisco Systems and gave the company a hold rating in a report on Tuesday, August 15th. JMP Securities reaffirmed a market perform rating on shares of Cisco Systems in a report on Friday, August 18th. Deutsche Bank reiterated a buy rating and issued a $40.00 target price on shares of Cisco Systems in a research report on Tuesday, August 8th. BidaskClub upgraded shares of Cisco Systems from a sell rating to a hold rating in a research report on Wednesday, August 16th. Finally, Bank of America reiterated a neutral rating and issued a $35.00 target price on shares of Cisco Systems in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Cisco Systems presently has an average rating of Buy and a consensus price target of $36.80.

Cisco Systems (NASDAQ:CSCO) opened at $37.60 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $38.03. The stock has a market cap of $184,397.09, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 3.37 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. equities research analysts expect that Cisco Systems will post 2.21 earnings per share for the current fiscal year.

In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the sale, the insider now owns 712,736 shares of the company’s stock, valued at $26,014,864. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 121,390 shares of the firm’s 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 $3,891,763.40. Following the sale, the chief executive officer now directly owns 552,694 shares in the company, valued at approximately $17,719,369.64. The disclosure for this sale can be found here. Insiders sold 493,530 shares of company stock valued at $16,993,798 in the last quarter. 0.05% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D increased its stake in Cisco Systems by 0.3% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 4,475,000 shares of the network equipment provider’s stock valued at $151,255,000 after buying an additional 12,000 shares during the period. IFP Advisors Inc increased its stake in Cisco Systems by 27.0% in the 1st quarter. IFP Advisors Inc now owns 221,080 shares of the network equipment provider’s stock valued at $7,473,000 after buying an additional 47,004 shares during the period. Leavell Investment Management Inc. increased its stake in Cisco Systems by 0.4% in the 1st quarter. Leavell Investment Management Inc. now owns 68,175 shares of the network equipment provider’s stock valued at $2,304,000 after buying an additional 280 shares during the period. Taylor Cottrill Erickson & Associates Inc. increased its stake in Cisco Systems by 3.5% in the 1st quarter. Taylor Cottrill Erickson & Associates Inc. now owns 67,249 shares of the network equipment provider’s stock valued at $2,273,000 after buying an additional 2,292 shares during the period. Finally, Valicenti Advisory Services Inc. acquired a new position in Cisco Systems in the 1st quarter valued at $222,000. 75.66% of the stock is currently owned by institutional investors.

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Cisco Systems Company Profile

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).

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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