Cisco Systems, Inc. (CSCO) Short Interest Up 4.2% in August
Cisco Systems, Inc. (NASDAQ:CSCO) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 40,664,338 shares, a growth of 4.2% from the July 31st total of 39,009,266 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 17,713,928 shares, the short-interest ratio is presently 2.3 days.
Shares of Cisco Systems (NASDAQ:CSCO) opened at 31.48 on Wednesday. The firm’s 50-day moving average is $31.47 and its 200-day moving average is $32.56. The firm has a market cap of $157.18 billion, a PE ratio of 16.57 and a beta of 1.24. Cisco Systems has a 12-month low of $29.12 and a 12-month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same quarter last year, the firm earned $0.63 EPS. Cisco Systems’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities analysts expect that Cisco Systems will post $2.43 earnings per share for the current fiscal year.
In other news, SVP Karen Walker sold 7,802 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total value of $244,124.58. Following the completion of the sale, the senior vice president now directly owns 178,577 shares in the company, valued at $5,587,674.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John T. Chambers sold 250,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The disclosure for this sale can be found here. Insiders sold 350,642 shares of company stock valued at $10,973,081 over the last quarter. Company insiders own 0.11% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Philadelphia Trust Co. raised its stake in shares of Cisco Systems by 23.7% in the fourth quarter. Philadelphia Trust Co. now owns 17,666 shares of the network equipment provider’s stock valued at $534,000 after buying an additional 3,380 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Cisco Systems by 5.7% in the fourth quarter. Macquarie Group Ltd. now owns 25,418,669 shares of the network equipment provider’s stock valued at $768,153,000 after buying an additional 1,365,708 shares in the last quarter. Bath Savings Trust Co raised its stake in shares of Cisco Systems by 4.3% in the first quarter. Bath Savings Trust Co now owns 20,619 shares of the network equipment provider’s stock valued at $697,000 after buying an additional 850 shares in the last quarter. First Financial Bank N.A. Trust Division raised its stake in shares of Cisco Systems by 4.6% in the first quarter. First Financial Bank N.A. Trust Division now owns 227,272 shares of the network equipment provider’s stock valued at $7,682,000 after buying an additional 9,977 shares in the last quarter. Finally, Liberty Capital Management Inc. raised its stake in shares of Cisco Systems by 17.6% in the first quarter. Liberty Capital Management Inc. now owns 14,852 shares of the network equipment provider’s stock valued at $502,000 after buying an additional 2,225 shares in the last quarter. 74.68% of the stock is currently owned by institutional investors and hedge funds.
CSCO has been the subject of a number of recent research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $37.00 target price on shares of Cisco Systems in a research report on Friday, May 26th. William Blair reiterated an “outperform” rating on shares of Cisco Systems in a research report on Monday, July 3rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $36.00 target price (down from $37.00) on shares of Cisco Systems in a research report on Friday, May 12th. Drexel Hamilton reiterated a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a research report on Tuesday, May 16th. Finally, Wunderlich increased their target price on shares of Cisco Systems from $30.00 to $33.00 and gave the company a “hold” rating in a research report on Friday, June 30th. Fifteen equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $35.47.
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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).
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