Nomura Raises Cisco Systems, Inc. (CSCO) Price Target to $33.00

Cisco Systems, Inc. (NASDAQ:CSCO) had its target price raised by Nomura from $29.00 to $33.00 in a research note released on Thursday. Nomura currently has a neutral rating on the network equipment provider’s stock.

CSCO has been the subject of several other reports. Vetr downgraded shares of Cisco Systems from a buy rating to a hold rating and set a $33.18 price target for the company. in a report on Wednesday, August 30th. Credit Suisse Group reissued an outperform rating on shares of Cisco Systems in a report on Thursday, August 31st. Oppenheimer Holdings, Inc. reissued a buy rating and set a $36.00 price target on shares of Cisco Systems in a report on Friday, October 20th. Robert W. Baird reissued a buy rating and set a $38.00 price target on shares of Cisco Systems in a report on Monday, September 11th. Finally, ValuEngine raised shares of Cisco Systems from a hold rating to a buy rating in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $36.67.

Shares of Cisco Systems (NASDAQ:CSCO) traded up $0.02 during mid-day trading on Thursday, reaching $35.90. 27,579,245 shares of the company traded hands, compared to its average volume of 20,121,138. Cisco Systems has a 12-month low of $29.12 and a 12-month high of $36.67. The company has a market cap of $177,768.98, a P/E ratio of 16.54, a P/E/G ratio of 3.13 and a beta of 1.15. The company has a quick ratio of 2.98, a current ratio of 2.87 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 19.73% and a return on equity of 14.58%. The firm had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the firm posted $0.61 EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. equities research analysts predict that Cisco Systems will post 2.16 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Thursday, October 5th were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.23%. Cisco Systems’s payout ratio is 60.10%.

In related news, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the transaction, the insider now directly owns 729,305 shares in the company, valued at $22,710,557.70. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Karen Walker sold 23,110 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $740,906.60. Following the transaction, the senior vice president now owns 192,774 shares in the company, valued at $6,180,334.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 485,138 shares of company stock worth $15,347,574. 0.05% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the business. Southeast Asset Advisors Inc. increased its holdings in shares of Cisco Systems by 0.5% in the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock valued at $312,000 after purchasing an additional 44 shares during the last quarter. Opes Advisors Inc increased its holdings in shares of Cisco Systems by 0.6% in the second quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock valued at $236,000 after purchasing an additional 44 shares during the last quarter. Leisure Capital Management increased its holdings in shares of Cisco Systems by 0.6% in the second quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock valued at $233,000 after purchasing an additional 48 shares during the last quarter. Ronald Blue & Co. LLC increased its holdings in shares of Cisco Systems by 0.3% in the second quarter. Ronald Blue & Co. LLC now owns 17,912 shares of the network equipment provider’s stock valued at $561,000 after purchasing an additional 57 shares during the last quarter. Finally, Banced Corp increased its holdings in shares of Cisco Systems by 0.4% in the second quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock valued at $442,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 75.22% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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