Cisco Systems (NASDAQ:CSCO) Stock Rating Upgraded by Citigroup

Cisco Systems (NASDAQ:CSCO) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Wednesday, MarketBeat reports. The brokerage currently has a $62.00 price objective on the network equipment provider’s stock, up from their prior price objective of $52.00. Citigroup’s target price indicates a potential upside of 9.93% from the company’s current price.

A number of other research firms also recently issued reports on CSCO. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $46.00 to $58.00 in a research report on Friday, August 16th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Barclays decreased their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus target price of $56.74.

Cisco Systems Stock Up 0.0 %

Shares of Cisco Systems stock opened at $56.40 on Wednesday. The firm has a market cap of $227.23 billion, a PE ratio of 18.99, a P/E/G ratio of 4.22 and a beta of 0.83. The business’s 50 day simple moving average is $50.95 and its 200 day simple moving average is $48.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems has a 52-week low of $44.50 and a 52-week high of $56.58.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. On average, analysts predict that Cisco Systems will post 2.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 in the last quarter. Company insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CSCO. Summit Securities Group LLC bought a new position in shares of Cisco Systems in the 2nd quarter valued at $25,000. Quarry LP boosted its stake in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares in the last quarter. West Financial Advisors LLC boosted its stake in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares in the last quarter. Retirement Group LLC grew its position in Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new position in Cisco Systems during the second quarter worth about $36,000. 73.33% of the stock is currently 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.