Cisco Systems (NASDAQ:CSCO) Price Target Increased to $47.00 by Analysts at Nomura

Cisco Systems (NASDAQ:CSCO) had its target price boosted by research analysts at Nomura from $45.00 to $47.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the network equipment provider’s stock. Nomura’s target price indicates a potential downside of 5.87% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on CSCO. Piper Jaffray Companies cut Cisco Systems from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $55.00 to $51.00 in a research report on Monday, November 11th. Zacks Investment Research raised Cisco Systems from a “sell” rating to a “hold” rating and set a $50.00 target price for the company in a research report on Wednesday, January 15th. Bank of America cut Cisco Systems from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. Barclays raised Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $53.00 price objective for the company in a research report on Thursday, December 19th. Finally, BidaskClub raised Cisco Systems from a “sell” rating to a “hold” rating in a research report on Thursday. Thirteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Cisco Systems has an average rating of “Buy” and an average target price of $54.28.

Shares of NASDAQ CSCO opened at $49.93 on Thursday. The stock has a market cap of $207.32 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.84 and a beta of 1.22. The business has a 50 day simple moving average of $47.92 and a 200 day simple moving average of $47.96. Cisco Systems has a 52 week low of $43.40 and a 52 week high of $58.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.70.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. The business had revenue of $12 billion during the quarter, compared to analysts’ expectations of $11.98 billion. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 EPS. On average, analysts predict that Cisco Systems will post 2.94 EPS for the current year.

In related news, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $45.19, for a total value of $3,163,300.00. Following the completion of the transaction, the chief financial officer now directly owns 352,587 shares in the company, valued at $15,933,406.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 12,597 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $44.81, for a total value of $564,471.57. The disclosure for this sale can be found here. Insiders sold 388,864 shares of company stock valued at $17,474,321 over the last 90 days. 0.03% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CSCO. Financial Advocates Investment Management raised its stake in Cisco Systems by 0.5% during the fourth quarter. Financial Advocates Investment Management now owns 40,313 shares of the network equipment provider’s stock worth $1,933,000 after acquiring an additional 204 shares in the last quarter. Alexandria Capital LLC grew its holdings in shares of Cisco Systems by 0.4% during the fourth quarter. Alexandria Capital LLC now owns 51,487 shares of the network equipment provider’s stock worth $2,469,000 after purchasing an additional 210 shares during the last quarter. Nicolet Bankshares Inc. grew its holdings in shares of Cisco Systems by 4.5% during the third quarter. Nicolet Bankshares Inc. now owns 4,977 shares of the network equipment provider’s stock worth $246,000 after purchasing an additional 215 shares during the last quarter. Cable Hill Partners LLC grew its holdings in shares of Cisco Systems by 1.7% during the third quarter. Cable Hill Partners LLC now owns 13,931 shares of the network equipment provider’s stock worth $688,000 after purchasing an additional 227 shares during the last quarter. Finally, Noesis Capital Mangement Corp grew its holdings in shares of Cisco Systems by 2.5% during the fourth quarter. Noesis Capital Mangement Corp now owns 9,140 shares of the network equipment provider’s stock worth $438,000 after purchasing an additional 227 shares during the last quarter. Institutional investors and hedge funds own 72.57% of the company’s stock.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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