Cisco Systems (NASDAQ:CSCO) Downgraded by StockNews.com

Cisco Systems (NASDAQ:CSCOGet Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Other analysts have also issued research reports about the company. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $55.00 to $60.00 in a report on Monday, April 15th. UBS Group raised their target price on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a report on Monday, May 13th. Oppenheimer lifted their price objective on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Finally, Barclays increased their target price on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.47.

Read Our Latest Report on CSCO

Cisco Systems Stock Performance

CSCO traded down $0.83 on Thursday, hitting $46.60. 18,821,915 shares of the company traded hands, compared to its average volume of 19,432,281. The stock has a market capitalization of $188.69 billion, a PE ratio of 15.69, a PEG ratio of 2.73 and a beta of 0.87. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $48.45 and a 200-day moving average of $49.37. Cisco Systems has a 12-month low of $46.20 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the business posted $0.88 earnings per share. The business’s revenue was down 12.8% compared to the same quarter last year. Sell-side analysts anticipate that Cisco Systems will post 3.13 earnings per share for the current year.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,457 shares of company stock worth $1,358,772. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Cisco Systems

A number of hedge funds have recently modified their holdings of the stock. Waddell & Associates LLC grew its position in shares of Cisco Systems by 0.8% in the third quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock valued at $1,328,000 after purchasing an additional 191 shares during the last quarter. Sax Wealth Advisors LLC grew its stake in shares of Cisco Systems by 3.6% in the third quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock valued at $306,000 after acquiring an additional 196 shares in the last quarter. Winch Advisory Services LLC raised its stake in Cisco Systems by 19.3% in the 3rd quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock worth $66,000 after purchasing an additional 199 shares in the last quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. boosted its holdings in Cisco Systems by 0.3% in the 4th quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after purchasing an additional 202 shares during the period. Finally, Hyman Charles D increased its holdings in shares of Cisco Systems by 0.3% during the fourth quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock worth $3,573,000 after purchasing an additional 203 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Company Profile

(Get Free Report)

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

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