Cisco Systems (CSCO) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Cisco Systems (NASDAQ:CSCO) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

A number of other analysts have also weighed in on CSCO. Macquarie started coverage on shares of Cisco Systems in a report on Monday, April 30th. They set an outperform rating for the company. JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a report on Thursday, May 3rd. They set an overweight rating and a $57.00 target price for the company. Credit Suisse Group initiated coverage on shares of Cisco Systems in a research note on Wednesday, May 9th. They issued a neutral rating and a $41.00 price target for the company. Argus increased their price target on shares of Cisco Systems to $55.00 and gave the stock a buy rating in a research note on Friday, May 18th. Finally, Zacks Investment Research downgraded shares of Cisco Systems from a buy rating to a hold rating in a research note on Tuesday, May 22nd. Nine analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $47.65.

Cisco Systems stock opened at $46.59 on Friday. The company has a quick ratio of 2.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The stock has a market cap of $223.15 billion, a PE ratio of 19.91, a PEG ratio of 2.76 and a beta of 1.07. Cisco Systems has a 1-year low of $31.19 and a 1-year high of $46.85.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. The company had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.76 billion. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. Cisco Systems’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. sell-side analysts predict that Cisco Systems will post 2.65 earnings per share for the current year.

In other Cisco Systems news, EVP David Goeckeler sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $43.27, for a total transaction of $1,514,450.00. Following the completion of the transaction, the executive vice president now owns 490,458 shares of the company’s stock, valued at $21,222,117.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farmers National Bank increased its position in shares of Cisco Systems by 21.6% during the second quarter. Farmers National Bank now owns 22,480 shares of the network equipment provider’s stock valued at $967,000 after acquiring an additional 3,990 shares in the last quarter. BDO Wealth Advisors LLC increased its position in shares of Cisco Systems by 7.0% during the second quarter. BDO Wealth Advisors LLC now owns 55,563 shares of the network equipment provider’s stock valued at $2,391,000 after acquiring an additional 3,621 shares in the last quarter. Mainstay Capital Management LLC ADV increased its position in shares of Cisco Systems by 2,009.3% during the second quarter. Mainstay Capital Management LLC ADV now owns 1,287,829 shares of the network equipment provider’s stock valued at $30,504,000 after acquiring an additional 1,226,775 shares in the last quarter. Mount Yale Investment Advisors LLC increased its position in shares of Cisco Systems by 68.3% during the second quarter. Mount Yale Investment Advisors LLC now owns 27,488 shares of the network equipment provider’s stock valued at $1,183,000 after acquiring an additional 11,155 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its position in shares of Cisco Systems by 26.3% during the second quarter. SRS Capital Advisors Inc. now owns 9,959 shares of the network equipment provider’s stock valued at $428,000 after acquiring an additional 2,075 shares in the last quarter. 71.65% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

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