Cisco Systems’ (CSCO) Hold Rating Reaffirmed at HSBC

Cisco Systems (NASDAQ:CSCO)‘s stock had its “hold” rating reaffirmed by equities research analysts at HSBC in a research note issued on Friday, MarketBeat.com reports. They presently have a $69.00 price target on the network equipment provider’s stock. HSBC’s price objective would suggest a potential upside of 4.23% from the company’s current price.

A number of other analysts have also issued reports on CSCO. Citigroup lifted their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Piper Sandler lifted their price target on shares of Cisco Systems from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday. Wolfe Research initiated coverage on shares of Cisco Systems in a research note on Tuesday, July 8th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. lifted their price target on shares of Cisco Systems from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Finally, Evercore ISI lifted their price target on shares of Cisco Systems from $72.00 to $74.00 and gave the stock an “in-line” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.53.

Cisco Systems Trading Down 4.5%

NASDAQ CSCO opened at $66.20 on Friday. The company’s fifty day simple moving average is $67.98 and its 200-day simple moving average is $63.36. Cisco Systems has a 52 week low of $47.85 and a 52 week high of $72.55. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a market cap of $262.15 billion, a P/E ratio of 25.27, a PEG ratio of 3.67 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. Cisco Systems had a net margin of 18.45% and a return on equity of 27.02%. The business had revenue of $14.67 billion for the quarter, compared to analysts’ expectations of $14.63 billion. During the same period in the previous year, the company posted $0.87 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts predict that Cisco Systems will post 3.04 EPS for the current fiscal year.

Insider Buying and Selling at Cisco Systems

In related news, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the transaction, the chief financial officer owned 309,543 shares in the company, valued at $20,281,257.36. This represents a 4.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the transaction, the executive vice president owned 131,676 shares of the company’s stock, valued at $8,365,376.28. This represents a 10.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,731 shares of company stock valued at $5,021,519. Corporate insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On Cisco Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Winslow Asset Management Inc. grew its position in Cisco Systems by 0.8% in the 2nd quarter. Winslow Asset Management Inc. now owns 132,893 shares of the network equipment provider’s stock valued at $9,220,000 after buying an additional 1,092 shares in the last quarter. Evergreen Capital Management LLC grew its position in Cisco Systems by 1.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 319,270 shares of the network equipment provider’s stock valued at $22,151,000 after buying an additional 5,517 shares in the last quarter. Strategic Investment Advisors MI grew its position in Cisco Systems by 3.7% in the 2nd quarter. Strategic Investment Advisors MI now owns 14,039 shares of the network equipment provider’s stock valued at $974,000 after buying an additional 497 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Cisco Systems by 13.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 152,695 shares of the network equipment provider’s stock valued at $10,594,000 after buying an additional 18,649 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new position in Cisco Systems in the 2nd quarter valued at about $36,546,000. Institutional investors 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.