Cisco Systems (NASDAQ:CSCO) Rating Increased to Buy at StockNews.com

Cisco Systems (NASDAQ:CSCO) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Other equities analysts also recently issued reports about the stock. Tigress Financial boosted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Piper Sandler increased their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Bank of America increased their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.42.

Cisco Systems Trading Down 2.1 %

Cisco Systems stock traded down $1.26 during mid-day trading on Thursday, hitting $57.92. 33,738,058 shares of the stock were exchanged, compared to its average volume of 19,104,037. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems has a 12 month low of $44.50 and a 12 month high of $59.38. The firm’s fifty day simple moving average is $53.82 and its two-hundred day simple moving average is $49.64. The stock has a market capitalization of $231.14 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 4.86 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the business posted $1.01 EPS. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts forecast that Cisco Systems will post 2.89 EPS for the current year.

Insider Activity

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The trade was a 0.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last quarter. 0.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cisco Systems

A number of large investors have recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the second quarter worth about $25,000. Quarry LP grew its stake in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC grew its stake in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems during the 2nd quarter valued at about $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of Cisco Systems during the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

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.