Cisco Systems (NASDAQ:CSCO) Given New $50.00 Price Target at Credit Suisse Group

Cisco Systems (NASDAQ:CSCO) had its price objective lowered by Credit Suisse Group from $52.00 to $50.00 in a report published on Thursday, AnalystRatings.com reports. The firm currently has a neutral rating on the network equipment provider’s stock.

A number of other equities research analysts have also issued reports on the company. Tigress Financial reiterated a buy rating on shares of Cisco Systems in a research note on Thursday, June 27th. Piper Jaffray Companies increased their price objective on shares of Cisco Systems from $52.00 to $58.00 and gave the company an overweight rating in a report on Thursday, May 16th. Royal Bank of Canada dropped their price objective on shares of Cisco Systems from $64.00 to $53.00 and set an outperform rating for the company in a report on Thursday. Zacks Investment Research raised shares of Cisco Systems from a hold rating to a buy rating and set a $63.00 price objective for the company in a report on Tuesday, May 21st. Finally, Bank of America reissued a buy rating and set a $62.00 price objective on shares of Cisco Systems in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $56.59.

Shares of CSCO stock opened at $46.96 on Thursday. Cisco Systems has a 52-week low of $40.25 and a 52-week high of $58.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.64 and a current ratio of 1.51. The firm has a market capitalization of $197.98 billion, a PE ratio of 16.40, a PEG ratio of 2.12 and a beta of 1.18. The stock has a fifty day simple moving average of $55.20 and a two-hundred day simple moving average of $53.85.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The business had revenue of $13.43 billion during the quarter, compared to analyst estimates of $13.39 billion. During the same quarter in the prior year, the business posted $0.70 EPS. Cisco Systems’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts forecast that Cisco Systems will post 3.11 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Wednesday, July 3rd. Cisco Systems’s payout ratio is 49.12%.

In related news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $53.56, for a total value of $3,749,200.00. Following the completion of the transaction, the chief financial officer now owns 349,122 shares of the company’s stock, valued at approximately $18,698,974.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven M. West sold 20,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the completion of the transaction, the director now directly owns 5,263 shares of the company’s stock, valued at approximately $295,833.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,379 shares of company stock valued at $4,950,541. 0.03% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in CSCO. Nuveen Asset Management LLC lifted its holdings in shares of Cisco Systems by 1,546.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock valued at $2,642,650,000 after acquiring an additional 45,351,980 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Cisco Systems by 36.0% in the 4th quarter. Fisher Asset Management LLC now owns 27,338,574 shares of the network equipment provider’s stock valued at $1,184,580,000 after acquiring an additional 7,238,755 shares during the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of Cisco Systems by 5,677.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock valued at $361,628,000 after acquiring an additional 3,553,686 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of Cisco Systems by 28.5% in the 4th quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock valued at $422,131,000 after acquiring an additional 2,472,300 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Cisco Systems in the 2nd quarter valued at about $125,277,000. 73.73% of the stock is owned by hedge funds and other 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 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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Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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