StockNews.com Upgrades Cisco Systems (NASDAQ:CSCO) to Buy

Cisco Systems (NASDAQ:CSCO) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Other analysts also recently issued reports about the company. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Piper Sandler increased their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. UBS Group boosted their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Morgan Stanley initiated coverage on shares of Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $55.53.

Cisco Systems Stock Up 0.7 %

Shares of CSCO traded up $0.33 during midday trading on Thursday, hitting $47.12. The company had a trading volume of 17,935,302 shares, compared to its average volume of 17,219,910. The company’s 50-day simple moving average is $48.79 and its 200-day simple moving average is $49.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. Cisco Systems has a 1 year low of $45.56 and a 1 year high of $58.19. The firm has a market capitalization of $190.80 billion, a P/E ratio of 14.32, a P/E/G ratio of 2.70 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. During the same quarter in the previous year, the business posted $0.76 EPS. The firm’s revenue was down 5.9% on a year-over-year basis. As a group, sell-side analysts expect that Cisco Systems will post 3.13 EPS for the current year.

Insider Activity

In related news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock valued at $972,080 in the last three months. 0.02% of the stock is currently owned by company insiders.

Institutional Trading of Cisco Systems

Several large investors have recently bought and sold shares of the company. Valued Wealth Advisors LLC acquired a new position in Cisco Systems during the fourth quarter worth about $32,000. Delos Wealth Advisors LLC lifted its stake in Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Cisco Systems during the 4th quarter valued at $33,000. Morton Brown Family Wealth LLC increased its position in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after buying an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC raised its holdings in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Company Profile

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.