Cisco Systems (NASDAQ:CSCO) Earns Hold Rating from HSBC

Cisco Systems (NASDAQ:CSCO)‘s stock had its “hold” rating reaffirmed by equities research analysts at HSBC in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. They currently have a $69.00 target price on the network equipment provider’s stock. HSBC’s price objective points to a potential upside of 4.23% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. KeyCorp initiated coverage on shares of Cisco Systems in a report on Thursday, June 26th. They issued an “overweight” rating and a $77.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $87.00 price target on shares of Cisco Systems in a report on Thursday. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $65.00 to $73.00 in a report on Monday, June 16th. JPMorgan Chase & Co. raised their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Finally, Piper Sandler raised their target price on shares of Cisco Systems from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $74.53.

Cisco Systems Stock Performance

Shares of CSCO opened at $66.20 on Friday. The company has a 50-day simple moving average of $67.98 and a 200-day simple moving average of $63.36. The company has a quick ratio of 0.87, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $262.15 billion, a PE ratio of 25.27, a P/E/G ratio of 3.67 and a beta of 0.91. Cisco Systems has a 52-week low of $47.85 and a 52-week high of $72.55.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.02%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 EPS. Equities research analysts predict that Cisco Systems will post 3.04 earnings per share for the current fiscal year.

Insider Transactions at Cisco Systems

In related news, insider Jeetendra I. Patel sold 899 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the sale, the insider directly owned 255,377 shares in the company, valued at approximately $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer owned 309,543 shares of the company’s stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,731 shares of company stock valued at $5,021,519 in the last quarter. Insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Cisco Systems by 1.3% during the second quarter. Vanguard Group Inc. now owns 393,989,568 shares of the network equipment provider’s stock valued at $27,334,996,000 after buying an additional 5,039,714 shares in the last quarter. State Street Corp lifted its position in Cisco Systems by 0.6% during the second quarter. State Street Corp now owns 194,695,250 shares of the network equipment provider’s stock valued at $13,507,956,000 after buying an additional 1,067,872 shares in the last quarter. Geode Capital Management LLC lifted its position in Cisco Systems by 1.2% during the second quarter. Geode Capital Management LLC now owns 99,252,395 shares of the network equipment provider’s stock valued at $6,864,058,000 after buying an additional 1,157,704 shares in the last quarter. Norges Bank acquired a new position in Cisco Systems during the second quarter valued at approximately $3,816,825,000. Finally, Invesco Ltd. lifted its position in Cisco Systems by 3.0% during the second quarter. Invesco Ltd. now owns 48,531,251 shares of the network equipment provider’s stock valued at $3,367,098,000 after buying an additional 1,414,105 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

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.