Cisco Systems (NASDAQ:CSCO – Get Free Report) was downgraded by investment analysts at New Street Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat.com reports.
Several other research analysts also recently commented on the stock. Barclays raised their price target on shares of Cisco Systems from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 17th. StockNews.com started coverage on shares of Cisco Systems in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Piper Sandler cut their target price on shares of Cisco Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their target price for the company from $55.00 to $62.00 in a research report on Wednesday, July 19th. Finally, Tigress Financial raised their target price on shares of Cisco Systems from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and a consensus target price of $58.38.

Cisco Systems Price Performance
Cisco Systems stock opened at $47.76 on Thursday. The firm has a 50-day moving average price of $53.38 and a 200-day moving average price of $52.23. The firm has a market capitalization of $193.64 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 2.37 and a beta of 0.98. The company has a current ratio of 1.38, a quick ratio of 1.27 and a debt-to-equity ratio of 0.15. Cisco Systems has a 12-month low of $45.56 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 EPS for the quarter, topping the consensus estimate of $0.91 by $0.20. The company had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a net margin of 23.40% and a return on equity of 34.92%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. As a group, equities research analysts forecast that Cisco Systems will post 3.57 EPS for the current year.

Insider Buying and Selling
In related news, EVP Deborah L. Stahlkopf sold 3,022 shares of Cisco Systems stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total value of $169,896.84. Following the completion of the sale, the executive vice president now directly owns 169,396 shares in the company, valued at approximately $9,523,443.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.02% of the stock is owned by company insiders.

Institutional Trading of Cisco Systems
A number of institutional investors have recently bought and sold shares of the stock. United Bank acquired a new stake in Cisco Systems during the 1st quarter valued at approximately $645,000. Mirae Asset Global InvestmentsCo. Ltd. lifted its stake in Cisco Systems by 32.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock valued at $236,593,000 after acquiring an additional 1,040,607 shares during the period. Roundview Capital LLC lifted its stake in Cisco Systems by 13.1% during the 1st quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock valued at $588,000 after acquiring an additional 1,221 shares during the period. Merit Financial Group LLC lifted its stake in Cisco Systems by 21.5% during the 1st quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock valued at $656,000 after acquiring an additional 2,079 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Cisco Systems by 8.1% during the 1st quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock valued at $135,470,000 after acquiring an additional 182,857 shares during the period. 72.21% 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.