Cisco Systems (NASDAQ:CSCO) PT Lowered to $51.00

Cisco Systems (NASDAQ:CSCO) had its price target dropped by research analysts at Rosenblatt Securities from $59.00 to $51.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the network equipment provider’s stock. Rosenblatt Securities’ price objective points to a potential upside of 6.80% from the company’s current price.

CSCO has been the subject of several other research reports. Evercore ISI upped their price target on shares of Cisco Systems from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. Bank of America upped their price target on shares of Cisco Systems from $56.00 to $60.00 and gave the company a “neutral” rating in a research report on Wednesday, September 13th. Citigroup upped their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Tigress Financial upped their price target on shares of Cisco Systems from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, September 22nd. Finally, JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price target for the company from $55.00 to $62.00 in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and a consensus target price of $58.38.

Cisco Systems Stock Down 0.6 %

CSCO stock opened at $47.76 on Thursday. Cisco Systems has a 12 month low of $45.56 and a 12 month high of $58.19. The firm has a market cap of $193.64 billion, a PE ratio of 14.43, a P/E/G ratio of 2.37 and a beta of 0.98. The firm has a 50 day simple moving average of $53.38 and a 200 day simple moving average of $52.23. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.91 by $0.20. Cisco Systems had a net margin of 23.40% and a return on equity of 34.92%. The business had revenue of $14.67 billion during the quarter, compared to analyst estimates of $14.63 billion. During the same period in the prior year, the business earned $0.77 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts forecast that Cisco Systems will post 3.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Deborah L. Stahlkopf sold 3,022 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total transaction of $169,896.84. Following the completion of the sale, the executive vice president now directly owns 169,396 shares of the company’s stock, valued at $9,523,443.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Cisco Systems

A number of institutional investors and hedge funds have recently modified their holdings of the business. Per Stirling Capital Management LLC. increased its stake in Cisco Systems by 3.4% in the second quarter. Per Stirling Capital Management LLC. now owns 5,794 shares of the network equipment provider’s stock valued at $300,000 after purchasing an additional 188 shares in the last quarter. Wealth Dimensions Group Ltd. increased its stake in Cisco Systems by 1.4% in the second quarter. Wealth Dimensions Group Ltd. now owns 13,401 shares of the network equipment provider’s stock valued at $693,000 after purchasing an additional 188 shares in the last quarter. Strong Tower Advisory Services increased its stake in Cisco Systems by 1.3% in the third quarter. Strong Tower Advisory Services now owns 14,831 shares of the network equipment provider’s stock valued at $797,000 after purchasing an additional 190 shares in the last quarter. Richard W. Paul & Associates LLC increased its stake in Cisco Systems by 0.9% in the third quarter. Richard W. Paul & Associates LLC now owns 20,996 shares of the network equipment provider’s stock valued at $1,129,000 after purchasing an additional 191 shares in the last quarter. Finally, Cassia Capital Partners LLC increased its stake in Cisco Systems by 1.4% in the third quarter. Cassia Capital Partners LLC now owns 13,950 shares of the network equipment provider’s stock valued at $750,000 after purchasing an additional 191 shares in the last quarter. 72.21% of the stock is owned by institutional investors.

About Cisco Systems

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.