Wells Fargo & Company Trims Cisco Systems (NASDAQ:CSCO) Target Price to $52.00

Cisco Systems (NASDAQ:CSCOGet Rating) had its price target cut by analysts at Wells Fargo & Company from $65.00 to $52.00 in a research note issued to investors on Thursday, The Fly reports. Wells Fargo & Company‘s price target would indicate a potential upside of 7.53% from the company’s current price.

Several other research firms also recently weighed in on CSCO. Morgan Stanley reduced their price target on shares of Cisco Systems from $61.00 to $59.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 12th. Loop Capital began coverage on Cisco Systems in a research report on Monday, February 14th. They issued a “buy” rating and a $71.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Cisco Systems from $67.00 to $62.00 in a research note on Thursday. Raymond James reduced their price objective on Cisco Systems from $64.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, February 17th. Finally, Oppenheimer lowered their target price on shares of Cisco Systems from $60.00 to $50.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $57.21.

Shares of CSCO opened at $48.36 on Thursday. The firm has a market cap of $200.90 billion, a P/E ratio of 17.27, a PEG ratio of 2.43 and a beta of 0.99. Cisco Systems has a 12 month low of $47.47 and a 12 month high of $64.29. The stock’s 50 day moving average is $52.63 and its two-hundred day moving average is $55.84. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 0.23.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a return on equity of 30.95% and a net margin of 22.94%. During the same quarter last year, the business posted $0.75 EPS. Equities research analysts forecast that Cisco Systems will post 3.1 EPS for the current year.

Cisco Systems announced that its board has initiated a stock buyback plan on Wednesday, February 16th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

In other news, SVP Prat Bhatt sold 3,623 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $56.40, for a total transaction of $204,337.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 15,382 shares of Cisco Systems stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $53.86, for a total transaction of $828,474.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,605 shares of company stock worth $1,121,147. 0.02% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Cordant Inc. acquired a new position in Cisco Systems during the 1st quarter worth approximately $28,000. Econ Financial Services Corp purchased a new stake in shares of Cisco Systems during the 4th quarter worth $29,000. Ulland Investment Advisors LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth $29,000. Advanced Research Investment Solutions LLC increased its holdings in Cisco Systems by 564.6% in the first quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider’s stock valued at $30,000 after buying an additional 463 shares during the last quarter. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. raised its stake in Cisco Systems by 63.9% in the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 590 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 73.18% of the company’s stock.

About Cisco Systems (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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