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

by · The Cerbat Gem

Cisco Systems (NASDAQ:CSCO – Get Free Report) was upgraded by investment analysts at Melius from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $73.00 price objective on the network equipment provider’s stock, up from their prior price objective of $66.00. Melius’ price target would indicate a potential upside of 23.88% from the company’s previous close.

CSCO has been the subject of a number of other reports. Citigroup lifted their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. UBS Group increased their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Bank of America boosted their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Piper Sandler upped their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.95.

Get Our Latest Stock Analysis on Cisco Systems

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $58.93 on Monday. The firm has a market capitalization of $234.70 billion, a P/E ratio of 25.29, a P/E/G ratio of 4.37 and a beta of 0.84. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $58.44 and its two-hundred day simple moving average is $52.93. Cisco Systems has a twelve month low of $44.50 and a twelve month high of $60.23.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same period in the prior year, the business earned $0.98 earnings per share. Cisco Systems’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems will post 2.97 EPS for the current fiscal year.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the sale, the senior vice president now owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 over the last quarter. 0.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cisco Systems

A number of institutional investors have recently added to or reduced their stakes in CSCO. FMR LLC raised its stake in Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Cisco Systems by 327.5% in the 3rd quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after purchasing an additional 5,223,800 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after purchasing an additional 4,843,146 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after purchasing an additional 4,842,542 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in Cisco Systems by 79.6% during the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after purchasing an additional 3,975,028 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Company Profile

(Get Free Report)

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.

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